Not well-versed in the ER side of finance but I was wondering if ER boutique/smaller firms exist or if this is generally just a division of investment banks?
Like can you start an ER firm that only does ER and sells its service to financial firms and banks or is it almost exclusively part of bigger/medium-sized investment banks and firms?
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Boutiques exist, but they are usually started by superstar analysts from big firms. Examples:
Not OP, but from a undergrad perspective how would you find these boutique firms? I heard some of the firms you listed thanks to Google and LinkedIn. Are there other sources you recommend using?
Go to a public company's website's investor relations section and see if they have a section called "Analyst Coverage" and you get to discover the less well known shops (some are really good, some other are down right sketchy).
For example, for Cisco (CSCO): https://investor.cisco.com/financial-information/analyst-coverage/defau…
If you are looking for a comprehensive of sell-side research shops for your job search (beware it's a bit outdated), here:
JP / BAML / MS / Evercore ISI / Citi / Barclays / UBS / RBC / Wells Fargo / Sanford Bernstein / GS / UBS / CS / DB / Cowen / Susquehanna / Jefferies / BMO / Macquarie / Oppenheimer / Robert Baird / Stifel / William Blair / Suntrust / Guggenheim / JMP Securities / Keybanc / Piper Jaffray / Wedbush / Mizuho / Instinet (Nomura) / Raymond James / BTIG / Janney Montgomery Scott / Cantor Fitzgerald / Stephens / MKM / SocGen / Loop Capital / Canacord Genuity / Scotiabank / TD
Boutiques:
MoffettNathanson, New Street Research, Wolfe, Keefe, Bruyette & Woods (KBW), Clarkson, Telsey, Leerink Partners, Needham, Melius Research, Gordon Haskett, Nephron Research, Seaport Global, Zelman
Thank you so much! Definitely used the list you provided before lol.
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