Best Groups at Citi / Barclays?

Based on the most helpful WSO content, here’s a breakdown of the best groups at Citi and Barclays in terms of deal flow and culture:

Citi

1. M&A: Highly regarded for its strong deal flow and excellent private equity (PE) exit opportunities, particularly for mega-fund (MF) placements.
2. Energy and Power: Known for being a strong group with solid deal flow and good exit opportunities.
3. Industrials: Another well-regarded group with strong deal flow and decent culture.
4. Debt: Citi is often mentioned as a top player in debt-related transactions, making this a strong area for deal flow.

Culture at Citi: The culture can vary significantly by group. Some groups are known for being intense with long hours, while others are more manageable. Overall, the culture is often described as dependent on the specific team and office.

Barclays

1. Power and Utilities: Consistently ranked as one of the top groups at Barclays, with strong deal flow and a good reputation.
2. Natural Resources (NatRes): Another standout group with solid deal flow and strong exits.
3. Consumer Retail: Known for its strength and good deal flow.
4. Healthcare: A strong group with good opportunities.
5. Tech/Industrials: These groups are strong but can be more demanding in terms of workload.

Culture at Barclays: Barclays is often praised for having one of the best cultures among bulge brackets. It’s described as collaborative and progressive, with a focus on work-life balance compared to peers. However, some groups, like Tech and Industrials, are noted for being more intense.

Key Takeaways

• Citi: Best for M&A, Energy and Power, and Industrials if you’re looking for strong deal flow and PE exits.
• Barclays: Known for its well-rounded groups, with Power and Utilities, NatRes, and Consumer Retail standing out. It also has a reputation for a better culture overall.

If you’re deciding between the two, consider your long-term goals (e.g., PE exits vs. staying in banking) and the specific group culture.

Sources: Thoughts on Barclays in 2020, Guide to LA IB Scene (2023 Edition), Best, Worst, Details about Barclays Groups, Citi vs CS vs Barclays for IB, Best Groups @ Citi