Hi monkeys,
I've seen similar threads popping up for JPM & MS groups recently and to my surprise could not find any info related to BAML. I would be curious to hear your thoughts on what the strongest groups are at BAML and how they place in terms of PE exit opps (MF & MM).
I am personally a bit uncertain about exit opps despite having heard good stories, since I only rarely come across former BAML analysts when sifting through e.g. MF's LinkedIn or MM's team webpages.
Thanks and have a good one
Would be interested as well (particularly wrt London and European offices more generally)
Bump
In terms of product groups, LevFin is one of the best on the street. M&A is very strong as well. On the coverage side, C&R and HC are both very good. I could be missing a few though.
M&A and Lev Fin are both great groups with great exits. On coverage i'd echo IBY1229 with CNR and HC, but also REGAL which is the best REGAL group on the street.
Consumer >>>>>>>>>>> M&A > FSG > LEV FIN > REST
You in consumer bro?
Does consumer place in MF or MMF PE?
Possible but very rare
Anyone know anything about the LA office?
...
LA has consumer + retail I think?
LA has a generalist coverage and have a strong pipeline to Oaktree
What about London office?
Don't know anything about the london or LA office but in NYC in no particular order M&A, Lev Fin, Sponsors (good PE exits obviously), CNR, HC, and REGAL are the top groups. M&A and Lev Fin and Sponsors probs have the best exits and REGAL if you want Real Estate PE or investing exits.
Do you know what the culture at C and R is like at BAML?
I have heard the group has a fantastic culture. Great offer return rate too. They get excellent deal flow as it is one of the best C&R groups on the street.
Don't know much else but hope that's helpful.
Do know anything about the HC culture?
Didn’t the Consumer team leave recently? https://www.reuters.com/article/us-citigroup-moves/bank-of-america-cons…
Can anyone speak about the exit opps in the C and R group at BAML?
.
Consumer Retail is supposed to be the strongest group (in terms of deals, don't know about culture). However, as an intern you will be pooled so steering towards your favorite group beforehand may prove rather difficult.
Thanks for the insight. Did you do your summer at BAML? if yes may I PM you to learn more about your experience?
Anyone know about Power, Utilities, & Renewables?
Am also interested
In no order the best groups are product groups (Lev Fin, M&A), anything doing with debt, (Sponsors), and REGL and HC.
Forgot about C&R they are also a good group but dont have the exit opps in PE like the other groups do above. The rest other the groups are ok (industrial is on the come up).
Why do you think that's the case, i.e. C&R being the best on the street but having a subpar exit?
I've heard that PE exits are stronger for the product groups (particularly sponsors, M&A, and LevFin). LevFin is fairly large, while sponsors is a tight-knit group (not sure about size/culture of M&A).
Just left the bank, but for NYC, M&A, LevFin, REGL, and FSG give you the best exits
Its funny to see how the bank has grown during these last years in London, literally seems a different player in terms of deal flow, reputation and exit opps
FSG >>> LevFin >=M&A >>>>>> Rest
REGL is outlier bc a top group for REGL exits
Second this. The rest of coverage groups get very mediocre exits (MF impossible and UMM extremely rare), at least for NYC.
Wouldn’t say impossible but def tougher
Is this just for NYC? I am curious about LevFin NYC vs Charlotte.
Yes, for NYC. Not familiar with how Lev Fin Charolette places but definitely good group
How about tech coverage in Palo Alto? I’ve heard they’ve been growing a lot? How do they place in terms of PE in the West Coast?
PA has both a tech coverage team and an M&A team specific for tech. Iv heard from multiple people in the office that the M&A team is extremely strong and lean - they cherry pick the top candidates from the coverage process and throw them in the M&A one if interested.
Quite a bit of the info in this thread is stale. Some comments are right though.
For PE exits: Sponsors >> M&A > Lev Fin Real Estate exits: REGAL
C&R has historically been strong, but had a brutal 2019. I don’t think they’ve recovered yet (could be wrong here; idk how COVID has affected the group). Not great culture, especially at the junior level.
HC has strong deal flow. TMT is up-and-coming with many more bodies than previous years.
In general, with Matt Koder as the relatively new head, there has been a push to cover the MM. The regional investment banking groups are growing incredibly fast (at least pre-COVID). Goal is to capture these clients early and bank them as they grow in size, using the entire BofA platform to do so. Think it’s working well, BofA got out of the hole it found itself in at the end of 2018.
Overall COVID has been good for BofA. DCM has gone off and has been the majority deal type since March, with absolutely incredible figures.
Also, unrelated note, it’s BofA Securities now not BAML. If you see BAML on LinkedIn, it’s because people haven’t updated their profiles.
How would BofA FSG PE exits compare to other top BB FSG groups like CS/Barclays/JPM?
BAML and CS are generally considered to be the best (maybe slight edge for CS). JPM is less execution-focused but still strong, Barclays seems up-and-coming but slightly below
What is the experience like in the regional coverage group? Is it similar in terms of pay / hours / exits?
Currently viewed as an internal lifestyle change transfer, though I'm not too sure just how true that is. Bonus is lower (in the same way coverage IB bonuses are lower than M&A bonuses at the associate level). Hours are supposed to be much better, though I have a few friends who are working quite a bit. Think this is due to the teams still being fleshed out; hours should come down once these teams are fully ramped up. Can't speak on exits since there's not enough time/data. I can't imagine exits will be good at the analyst level; general coverage IBK does just-ok, so think the regional groups will be targeting the MM and LMM PE markets.
I don't think this is a group to go for if you're concerned about exits. It's a good group if you want to make a career out of MM banking. I think the main perk, besides lower work hours, is that you'll be closer to your clients. These are not math-heavy groups, more relationship focused. Giving MM/regional clients more attention than they'd typically receive at the general IBK level. Think it's a great market opportunity for BofA; the revenues they've pulled in so far and the speed at which they are growing already prove this.
Any info on FSG in SF?
The technology group in PA is strong
Ranking the groups?
Tier 1 - FSG, M&A, REGL, LevFin
Tier 2 - HC, C&R, TMT, Industrials
Tier 3 - FIG, NatRes, Regional Coverage
^
All coverage and product groups at BofA will check the box with headhunters. The rest comes down to you as a candidate and how prepared you are for interviews. Group is not nearly as important as you would think. The cream always rises so go wherever you think you will be happiest.
I would avoid NatRes in the US - terrible culture, mediocre dealflow and weak exits. This applies to both energy and power.
Aren't they leaders in renewables/doing well with SPACs?
Are we talking about the Houston or the NY team here?
This is a pretty unique opinion on the power side - BAML has been widely considered a first mover in IPP advisory, asset divestitures, and project financing (which is where the power industry is moving).
They’ve historically had one of the strongest power and renewables practices in the US.
Agree with you that the energy side of natural resources isn’t particularly strong.
How are the exits opps for BofA LevFin Charlotte
Not even close to NYC. They don't even have the same placement pool as the general IB pool. MDs are generally awful as well. Seems like night and day between NYC and CLT LevFin
Del
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