Barclays Consumer Retail
How is the group in terms of deal flow, hours, exit opps, etc? I am aware a lot of seniors left recently, but how is the outlook now? Is exiting to PE feasible?
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I’ve heard they’re not happy with the division in UK/EU. some directors from CS are underperforming
but I wanted to get input from others as well
For reference, talking about NY office
Are you going through group placement too?
Yep
They just posted the $5bn Mattress Firm deal - sounds like a solid group. How's your luck networking with them?
Definitely one of the weaker C&R groups of BBs, but still a solid group deal wise. Unsure about culture.
Thanks. Do you know anything about exits?
For consumer PE pretty weak (TSG, L-Cat, Sycamore, etc), although you’d still get a good amount of looks.
Issue with Barclays is you don’t get enough of the headline deals like the top BB groups (plus they also do small deals), or the volume of top MM groups that burn and churn $500M-$2B deals where you get a lot of learning and interactions with these PE firms.
If you like consumer though then do consumer it’s not a bad group by any means.
MF/UMM are extremely rare. MM is doable.
HH prefer some of the other groups for Generalist PE placement. CRG lags behind some of the other top coverage groups like Sponsors, HC, Tech, and PU&I in dealflow and prestige (yes, this is important to HH for some reason). I would also put it behind groups like Industrials and Energy Transition, which have historically been extremely strong groups.
CRG is sort of in a "best-of-the-rest" situation. If you do not have any options for group placement in the aforementioned groups or simply don't have an interest in those verticals, I would take it. Its peers like FIG (too niche) and CMG (too weak) have their own problems.
Pretty much my situation regarding the other groups you mentioned. Thanks for the clarity. Would you happen to know how easy switching coverage groups is from the summer to FT?
didn’t crg lose a lot of people to ubs? were they rainmakers?
I heard they lost a lot of seniors in the group as well, just trying to see the current perception of the group now
Some of them, yes. UBS had a non-existent deal flow CRG franchise before the Barclays hires. Since then, it's still a pretty weak franchise, but they were the lead advisor on Celsius - Alani and Wallgreens - Sycamore (Sycamore being a top Consumer PE firm), and advisor on Supreme - Luxxottica, among other smaller things. Given the timings of things, it suggests these were deals brought from Barclays people. This doesn't mean UBS CRG is better than Barclays; I heavily doubt it given the overall league table standings of both banks, but I think the Barclays CRG team is likely weaker than it was pre-hires.
Do these group rankings change frequently? I feel like NR (now ETG) used to be the best, and CRG used to be a top group people wanted a few years ago.
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