Hi,
I am a little surprised that there is no thread on BarrenJoey. I would love to get some dialogue or just some conversation since they have certainly made an entrance in Australia (I am also immensely curious and idolise the company's future).
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Yeah they’ve definitely been in the news recently a lot due to the high level staff they have recruited from other banks. Bankrolled by Magellan (Hamish) and Barclays it will be interesting to see how they perform this year.
One of the biggest transactions they’re working on is advising Transurban on the NSW governments 49% stake in WestConnex.
What is a bareenjoey?
It certainly seems like they are winning a fair chunk of work. I believe they already have 200+ people on their books so they are on the larger side in terms of employees at Aus IB’s.
Currently based out of Australia - just looking at the daily news and seeing the amount of work done by Barrenjoey, I reckon they will definitely join UBS/Macquarie within the next five years
I think it’ll depend on their ability to retain staff. They obviously have some of the best deal-makers in the country, but if these guys retire in the not-too-distant future, which is a possibility seeing as they are all quite senior with 20+years of banking under their belt, the allure of the firm suddenly drops quite a bit IMO
Yep agreed.
Given it's a new firm, clients are attracted to the seniors, and not necessarily the platform. If BJ (not sure if that's an appropriate abbreviation haha) can attract enough momentum in the next few years (by advising on landmark transactions), I think they will be in good stead for the future. I think they've publicly stated that they wanted to become the next Macquarie, so hopefully it will work out. Keen to see more Aussie banks do great work!
BJ will be - if not already, the best IB in Australia, no questions
- Poached the best rainmakers from UBS and JPM
- Took the best junior talent from literally every bank (over 50 different ones I recall reading)
Heard pay is comfortably the best in Aus too
And will offer the best BJ in Australia, no questions
Any data points for pay? very interested as an Aus banker myself.
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