BAML - Tech - Palo Alto

Any info on this group? There is some outdated stuff that comes up through search but wondering if anyone has any updated info. Primarily interested in deal flow, culture, people, reputation, etc. I know they have a tech M&A group out of that office as well but do they execute any of their own M&A within the coverage group or is it primarily equity + pitching?

 

I can't be of a lot of help, but I have a couple of friends in this group (analysts) and they love the culture. Deal flow seems solid.

"I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant."
 

Talking to one of the M&A VPs, I got the impression that the coverage group pretty much stayed out of M&A execution...no comment on the deals (haven't heard of them being on anything major though)

 
Best Response

My friend worked in the tech M&A group as an analyst several years ago. The tech M&A group does all execution of M&A deals (from due diligence to negotiations to legal). The coverage group is responsible for equity and debt financings. The coverage group had a bout ~30 to 40 people at the time and suffered significant layoffs a few years back. Overall, the coverage group bankers were much more happy and pleasant to work with than the M&A bankers. Pay was good and matched the street at the junior level. Hours were pretty brutal for analysts and associates in both the M&A and coverage groups. Most associates would come into the office on Saturdays/Sundays. Lots of internal promotion. Almost every associate was promoted to VP after 3.5 years.

 

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