2021 MD Poaching - Where are they going?
One can say that it's been quite the year when it comes to MDs being poached from bank to bank. Ultimately, some smaller shops have been very fortunate to take on MDs bringing a hefty client base with them. Which shops have been hurt the most / which have benefitted from this past year's events?
CS got eviscerated and rightfully so, senior bankers saw their deferred comp evaporate overnight. They lost 30+ MDs across a broad range of groups. Head of consumer, EMEA TMT head, multiple MDs in FIG, head of Life Sciences M&A and the list goes on
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By far the biggest loser has to be UBS with most of their TMT MDs being poached by SVB Leerink to form a new tech coverage group. SVBL's tech team also managed to grab MDs from Evercore, Barclays, Jefferies, and even Goldman's Global Head of Internet Investment Banking.
tf is SVB Leerink
Wish we can get insight on the senior bankers offers at SVBL - the guarantees/incentives etc.
Business Insider actually has a piece on some of the guarantees/incentives to woo rainmakers to SVBL. The article is behind a paywall but here's a little snippet:
"[SVB is giving] 3-year guarantees and uncapped bonus pools... SVB is also kicking in more to the bonus pool than traditional banks, with no limit on total compensation, sources told Insider."
Inside SVB Leerink's Hiring Push, With Rich Multi-Year Guarantees (businessinsider.com)
Geez. How many MDs do they have? Sounds bloated.
16 including 4 that run tech-only product groups
Anything in regards to RBC?
Took a couple of MD/Ds from CS tech SF. Group head Kirk Kaludis (wasn’t respected internally not sure if this is an impressive hire) and some people that came over with him from his previous spot (Barclays maybe?)
Yeah it was Barclays. They've lost a lot of good seniors over there
Expand on second sentence plz . thx
.
This is just a guess but the fact that you always preface your comments with “I don’t work there but – ” makes me me think that you do work there
Regardless, it’s true
Have there also been juniors going to SVB Leerink? What are their target schools? Are they a real firm people aim for or to use them as interview practice/offer as leverage for other solid shops
A recruiter randomly reached out to me and my initial impression was TMT banking for a German washing machine appliances company based on their name. It is very strange sounding, like that try hard kid in class who wears his shirt all buttoned up
It’s the last name of the founder and the bank they were acquired by, idk why that’s too crazy.
I know the intern class size has shot up hundreds of percent yoy
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