Thomas Weisel Partners - Prestige?

What is the prestige of Thomas Weisel Partners as a MM. I know they are known for their tech group, but what about their health care and consumer groups. Will TWP offer a good stepping stone to MBA or lateral move to BB groups.

Thanks in advance!

 

TWP is a good bank to lateral if thats what you want, they are still well-regarded by senior people on the street, however the prestige of the firm has fallen somewhat from its grace in the early 2000's when it was doing $40bn deals. their tech group competes with BB's for a lot of deals, their healthcare group has had some big deals recently, like Dannipon's $2.6bn acquisition of Sepracor, but its not as well-known as the tech group.

 

Hands down an elite bank that is very very solid. their tech group is really good and I know of a MS Financial Sponsors SA who turned down his offer to go to TWP. If you mention their name to some chicks in the club, they'll pretend they have no idea but you'll be able to feel the emanating heat as their body temperature skyrockets and mating pheremones come blasting out.

========================================= We are excited to formally extend to you an offer to join Bank of Ameria
 
fembotma:
they're not as good as piper jaffray. I know someone that turned down KKR PE for piper jaffray.

wtf?

-------------------------------------------------------- "I do not think there is any other quality so essential to success of any kind as the quality of perseverance. It overcom
 

They are definitely not what they used to be. They relieved a lot of their IBD http://dealbook.blogs.nytimes.com/2008/05/02/thomas-weisel-to-cut-20-of… and they are burning cash like there's no tomorrow.

They have negative gross margin :/ . They are not weathering the storm well. I saw them on a few pitches in the last 24 months - none of which they won. They also don't do a very good job of relationship/market management post-deal from what I have seen.

Tom Weisel goes on most of their big pitches, or at least he used to. Exit opps would be similar to other boutiques. Their rep has taken a severe hit over the last couple of years.

Of that group you posted, Piper is the best respected tech practice.

 

Agree with 2Stop in that the tech group was the driving force behind their reputation and it certainly isn't what it used to be. I'm not sure I've ever come across a PE associate that came from there, although that's probably a product of their smaller size. Disagree with 2stop, however, on the Piper call, as I believe Jefferies still operates under the Broadview platform and I think they're pretty elite. Also consider Oppenheimer's tech group (Oppenheimer is one of few comparable firms that is actively recruiting at all levels, esp the top), as they're broader IB franchise is more respected than the others you mentioned, except for maybe Jefferies.

 
Best Response

nice people and respectable hours. sf headquarters is the main office, but i think both the sf office and ny office has 1-2 floors dedicated to banking. NY office is generally busier than SF. but deal flow is weak and the training is not particularly rigorous. many of the class of '04 and '05 analysts have jumped ship already, or reportedly attempted to move into PE/HF with limited success (obviously tough to compete with BB analysts).

as sharp mentioned earlier, the firm is not only levered to the wrong markets but their strategy of generating more revenue growth from their institutional sales hasn't been as effective as expected (unfortunate because there were quite a few top sales guys with good relationships that had migrated from BB's). too bad, because while there is some talent at the firm, it seems that they just aren't able to leverage their core competencies towards optimizing their top-line. (you can look at their recent 10-q's if you're really curious)

​* http://www.linkedin.com/in/numicareerconsulting
 

from what i heard, the investment bank is tech focused. however, they are not the strongest tech group on the street - mostly co-manager (don't really do much on the IBD side and collect small fees) position in capital market deals and virtually non-existant in tech M&A

 

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