West Coast Tech Groups

Wouldn't necessarily place CS at 3 anymore. They've come down significantly since the Quattrone days. ML, JPM, LEH, and CS are 3-6 depending on the rankings and who you ask.

don't agree with nystateofmind on cs, they still get strong share of the issuances and M&A.

Lehman and JPM probably come after, with ML bringing up the rear.

What about DB or Citi? I've heard Bear Stearns and BofA are essentially non-players.

Neither Citi or DB are real players either - Citi over DB if picking between the two. BofA, Wachovia, and BS are like you said, non-players in the Tech space.

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Where is UBS in this ranking?

UBS is decent....probably below those mentioned in the thread, but above BofA, Wachovia, BS, Cowen, RBS, etc

when the Lehman Semi ppl moved to DB, they kicked out most of the old DB Semi team and some of those ppl moved to UBS

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First Tier: GS, MS and CS

Second Tier (in no particular order): JP Morgan, LB, UBS, ,Citi, ML

DB is much closer to BofA / BS / Cowen / Wachovia than it is to the rest of the bulge brackets in Tech.

Agree with poster above to an extent.

GS, MS and CS are undisputed leaders in tech banking.
Arguably GS and MS slightly head of CS.

I have a hard time seeing JPM as a tech player though, haven't really done any marquee transactions. Perhaps you can credit them for putting together the slide that has "JPMorgan's Summit Partners team" and having a TA Associates logo on the same page. Probobly the biggest tech banking blooper of 2006.

ML is decent got the Postini transaction done with Google, but other than that are a Right bookrunner or converts shop.

Deutsche Bank is not a tech player sorry, TZL. Just because you hire an all-star roster from Lehman, doesn't make you a top tech player. I know it's tough to have a Deutsche Bank business card and feel proud.

Also as an analyst you want deal experience and based on the hype of this board exit opps:
GS clearly strong advisor with ridiculous exit opps: multiple TPG, multiple Silver Lake, KKR, Vector, Top hedge funds (Perry) etc.
MS: Silver Lake, Hellman (although FSG), TCV, Hedge funds, KKR, Francisco Partners
CS: Golden Gate, NEA
Lehman: HIG
ML: World Bank, Carlyle Ventures
JPM: ???
Lazard: TPG Japan
Bear: Lateral to a bulge, Summit Partners
DB: Lateral to a bulge, Macquarie Bank (infrastructure fund), Newspaper front cover suicide
UBS: Carlyle, Weston Presidio, General Atlantic, TCW/Crescent, Canaan Partners, TA Associates, Oak Tree x2
Wachovia: Newspaper front cover suicide
Thomas Weisel: Newspaper front cover suicide, Summit Partners

Looks like UBS is among the top for exit opps; people might be more complimentary of them now.

If you were to pick between Merrill Tech M&A and Credit Suisse coverage where would you pick and why?

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Merrill Tech M&A - much better exit ops. You're not only learning a product group in M&A but you're learning coverage as well focusing on Tech. M&A's going to be easier to place into PE / VC if that's what you're looking for.

You've also got to understand ML is in Palo Alto, CS is in SF so if the city life is what you're looking for CS is clearly where you should go.

nystateofmind, you also gotta realize that CS' tech group has Tech M&A built into it. Thus you're not actually choosing between coverage at CS and M&A at Merill. You're actually choosing between the group that Quattrone built and... Merill.

Ballyho128, from my understanding CS has a Tech M&A group, separate from their coverage group.

Tech M&A and Tech Coverage are separate, like Morgan Stanley.

I'm in a generalist program in LA, but worked with an summer analyst, who didn't get an offer and has the two offers mentioned above.

Do you think the two groups impact exit opps at all?

Great commentary on the groups though, I think city living vs. outside of the city will probobly make it tough to meet people outside of work.

I think it's a big component in the decision.

Great commentary on the groups though, I think city living vs. outside of the city will probobly make it tough to meet people outside of work.

I think it's a big component in the decision.

Great commentary on the groups though, I think city living vs. outside of the city will probobly make it tough to meet people outside of work.

I think it's a big component in the decision.