Barclays/JPM Private Capital Markets
Hi All - I currently sit in a vanilla ECM team at a BB, 1 year away from Associate. I like the seat and enjoy the equity markets, but don't love the vanilla "IPO" process and think I want to have a slightly more bespoke role, as I feel like that is where a lot of value can be added in a commoditized business. I am currently in discussions with both Barclays and JPM (luckily had a connection at Barclays from my family) regarding their Private Capital Markets/Private Placements teams, and was wondering if anyone had any opinions on these teams. From what I have gathered, it seems like they do equity raises, with some convertibles/structured notes, with earlier stage companies, so I assume lots of VC/Growth Equity investor interaction.
The seat sounds cool, and I like the people at both firms. I have a few questions:
1) What kind of technical skills do you build in this seat? (I know this is broad, but any feedback would be helpful)
2) This seat sounds to me like a cooler version of vanilla ECM, as the deals are private and thus I assume more negotiation/nuance to the transactions. What kind of progression/exit ops do you see here (including moving up at the firm)? I am NOT set on PE, in fact, I am 50/50 on going buy-side vs. staying sell-side.
3) Is there any range regarding comp here? Would it be pretty in-line with coverage groups, or would it be at more of a discount like ECM is once you start moving up?
Any and all color would be great here, as I have not been able to find much information online about this team.
Thanks all!
Private Capital Markets = SPAC PIPE team for the most part
So they do work on that to an extent, but they said that most of the stuff they do is growth equity deals w/ early stage tech companies (this sounds pretty cool/like good experience), and then some more structured preferred/convert notes and such. I feel like I have the overview of what they do, but would be great to hear on the above questions as to what that means for an analyst experience. Do you have any opinion on this group? Note: not interested in buy-side at this point, am looking to move up the ranks in IB.
Thanks for your reply :)
Is your group operating in a specific sector?
Bump
Bump
Don't want to rain on your parade but if you do end up going to Barclays, you're kind of just switching out the color blue for cyan, things won't differ too much from where you're at and don't expect some crazy salary increase, depending where you come from.
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