Anyone know anything about Jefferies Tech and Wells Fargo TMT in Charlotte?
I'm a 3rd year coverage analyst looking to make the move to Charlotte. The groups I'm interesting in lateraling to and learning more about are the Jefferies Tech and Wells Fargo TMT groups.
I'm generally aware of the rep both of these firms have in the TMT universe but I'm more curious about:
- How vertical coverage is split between NY/SF/CLT
- What exits the regional offices offer for TMT
- Detail on deal flow / quality, comp, lifestyle, and culture
I recognize this is a pretty niche ask but any advice is appreciated!
Why are you movin to Charlotte?
Jefferies Tech in CLT is Tech-enabled Services. I believe it's split between CLT and NY. Unsure about SF.
WF only has tech in SF, so Charlotte would be media and telecom. I don’t know much beyond that but I think they’re paid street from what I do know.
Wells TMT is a sweat shop
Charlotte or NY?
Any idea how the analyst / associate experience is there? I never really see WF on deals
Good question - from what I’ve heard it’s a lot of pitching. Traditionally Wells IB business model doesn’t really fit tech because of the leverage constraints that the firm has been operating under, the old CEOs didn’t seem to be interested in that.
I know that there is a focus now on growing IBD and the new leadership is aware of their lack of presence of these kinds of deals as well as their absence in lending in that single B and below range. I really don’t know much about their tech coverage because it’s in San Fran, but certainly don’t see them on much, especially with IPOs. They did do ICE and Ellie Mae, think they may have been one of the lead advisors. Looks like TMT coverage handled that.
From what I understand they’re more involved in the tech business services, telecom, entertainment areas. Sorry I don’t have more color, I’m not currently working there. I learned about them from being in their summer associate process, but ended up going elsewhere. I liked the people in the NY team.
To get a better sense of what they work on you can check out:
- Consolidated Communications / Searchlight deal
- Legends hospitality / Sixth Street equity investment
- They work quite a bit with Six Flags and handled most of it not all of their financing during COVID. They’re 6 flags lead advisor I believe.
- Broadcom acquisition of Symantec
Hope this is helpful. ICE / Ellie Mae seems like their biggest by far.
Also might want to look at Suntrust and William Blair.
Does anyone know about the wlb of the other coverage Wells groups in Charlotte, FIG and Healthcare?
how do other groups in Jefferies in Charlotte look? Consumer, REGAL, A&D?
Interested to hear about REGAL
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