Best banks for healthcare?
Not familiar with the best banks for healthcare IB. Can anyone point me in the right direction?
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CVP, GS, JPM are top tier for sure
LAZ, JEFF, and GUGG also have good groups
Leerlink? I'm not going to work there but always heard that they were very good
ECM focused, not as much M&A like the others listed above
nailed top tier in terms of deal flow. PWP also strong here
pwp hc is quite literally only good in med tech
MTS
Hi
Frankly, the HC advisory landscape is very volatile and has seen plenty of changes over the years.
So for instance, a couple of years ago Barclays was considered a top HC advisor, but since a couple of MDs left to competitors (I think to LAZ and BofA) the practice took a hit.
Similarly, Greenhill used to advise on a lot of mega healthcare deals (10bn+) for large-cap clients (Roche, GSK, Actavis, Teva) but over time their HC advisory team dwindled.
Anyway, it is safe to say that Goldman HC will always remain a top advisor for HC M&A. Centerview is very active too, mainly on biotech deals.
Alum at my school is on the corp dev team of a CVP client. Appears to think very highly of one of their HC MDs.
That's the issue though with EBs, as exemplified by GHL - it's enough that a couple of MDs leave and your entire practice is gone. That is what truly differentiates BBs (eg GS) from EBs - Clients go to GS for GS, and not for MD X, Y, or Z. On the other hand, clients go to EB X because of MD Y. Once the MD is gone, the client goes with the MD.
.
No doubt cvp
JPM
It’s more or less in-line with the tier lists for general rankings you’ll find countless of on this forum but some underrated players would be Cain Bros and SVB/Leerink, obviously wouldn’t recommend these over EB/BB if your end goal is PE, but they’re still great places to start your career or even build a long-term career at
Others not mentioned but worth mentioning:
- Tripletree
- Crosstree
- William Blair
- Canaccord
- Ferghana
.
Congrats on Crosstree
Gordon Dyal occasionally do mega cap large pharma deals.
For those saying Leerink, yes you are right. It's a good bank for healthcare IB. HOWEVER, for the author as well as others that want to do HC IB do not go to Leerink. There was a post sometime within the last 6 months that blew up of people shitting on Leerink and how they destroy analysts and just isn't a good place to work.
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