Best NY Tech Groups (IB)
Thoughts on the best tech groups in NY recently for associates and VPs. Would rank by the following:
(Deal Flow / Culture / WLB / Compensation)
Anything anecdotal appreciated
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GS TMT and EVR Tech M&A are the top tech teams in NYC. They focus less on "techie" verticals compared to their West Coast counterparts, but overall they are a notch above other tech teams in NYC
GS tech coverage is overwhelmingly run out of SF. To be clear, GS TMT NY is a top group for deal flow and exits, but it's not a tech group.
UBS now top notch with all the hires
I know this is a joke, but as someone at UBS albeit not in NYC tech:
The team has 5 MDs, only 1 of whom has been there for more than 18 months, and 3 of whom have been there for less than a year. UBS SF at least has MDs who have theoretically ramped up. This is not to say UBS SF is good; there are a bunch of threads on it for a reason, but I doubt NYC Tech is any better since they basically do not even have MDs that are ramped up to the platform. I agree with previous posters that NYC has had more flow (largely financings) than SF, but I think that's a reflection of how weak SF is, not that NYC Tech is good.
I bet they claim they need 5 years to ramp up so they could go 5 years without a deal
bump
how is jpm? wondering how it compares to the sf team and how technical the experience is given the m&A team
mediocre, most of the action is in the West Coast for tech
what about M&C?
Barclays
UBS TMT #1
How’s BofA
I believe 4th on the league tables, no clue how that is split between Paulo Alto and New York though. Also don’t remember how big the gap is between them and the top 3.
NY is not great. Mostly just latch onto deals via capital markets in a non-lead role.
Their PA team is solid, did the google/wiz deal.
GS and Evercore then a big drop off. Don't think you're going to get a great Software experience in NY anywhere, but I think Barclays also covers it in NY.
Seems like Moelis NY wins a decent amount of MM/ UMM SaaS deals after the SVB Acquisition so could be interesting to chat to those guys if you're recruiting and would be interested to hear abt it.
Moelis NYC is basically the old UBS tech team that went to SVB, or at least the rainmaker MDs are (yes, legacy UBS Tech was stronger/had better MDs than the Moelis tech guys; there's a reason they ex-UBS guys were all hired together). That team were the financing bankers of choice for every large-cap sponsor and was top tier every year in LBO financing with sponsor-based M&A. The seniors there aren't really M&A guys.
Interesting to hear that – I see that they recently closed 3 SaaS deals with large-cap sponsors though so I presume some of those relationships are being put to use (although could be SF office?). Did some of the rainmakers leave to Barc? Would be interested in hearing.
Seems like they're absolutely crushing it in the data center/ digital infra space though with Coreweave and others. Ik their digital infra team was basically nonexistent post A'Hearn leaving
Don't do tech IB in NY man. They mostly cover quite boring verticals. If you're into the sexier tech verticals, focus on West Coast IB teams. Just my two cents...
Q, GS, Evercore, MS MP, then everyone else is mid to trash. Everything else is cope.
Anyone know anything about Citi?
Solid group. Software and services are especially strong. From a competitor bank, see them co-advising on many mandates and believe NY and SF analysts are cross-staffed
Would highly recommend not targeting NY if you know you want to do Tech IB. There are a few strong UMM/MF tech PE teams in NY, but the top Tech IB groups are all based out of the Bay Area.
MS Menlo / GS TMT SF are the best Tech IB teams in terms of deal flow and exits. Would include Q SF too if you care less about PE exits.
how are the non-Q EBs in tech IB (I know EVR, MOE, CVP, LAZ all have presence in the space)?
Very curious as to this as well
EVR Menlo is above the other EBs, the other three (CVP, LAZ, MOE) are more or less the same
Dude if you want to do tech IB go to West Coast. NY tech groups, even top ones, aren't working for the most part on hot verticals / sectors
Echo what most of these comments say, Barlcays iirc does everything in NYC if thats of interest to you
Overall Qatalyst, GS ans EVR tech top then a big drop off for the others really. EVR & GS NY crushes in industrial tech by a mile.
don't do NY tech, it is very limited in scope. If you want to focus on tech go to SF (Q, GS, JPM) or Menlo Park (MS, EVR). For exits it honestly doesn't matter that much, but in term of exposure it is better to be in the west coast
.
thoughts on CD&R tech? they don't have a west coast office so I'm wondering if that helps with the level of exposure
100% of the last two classes came from NY groups
What about Solomon tech?
For NY? GS and EVR for sure. For proper tech though, I would say that their west coast teams (GS TMT SF and EVR MP Tech) are doing hardcore tech across all verticals (Semis, internet, software, etc)
Any insight on mm space like Blair Gugg etc
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