Best REGAL groups
Super interested in going into REGAL. So far I have heard a lot about BAML and Wells Regal.
BAML: seems to be the consensus number 1 in REGAL. Spoke to a few Associates in the group and they seem to enjoy it a lot and are very sharp. Lots of recent high profile deals they have been involved in.
WF: Seems to be strong and spoke to a MD in the group. He switched over from another BB and mentioned WF being the number 1 CRE lender and having a large balance sheet, which has been helping the group. Great deal flow and lots of Blackstone related RE deals last year.
What are opinions on the REGAL groups at these two banks? Additionally, what are some of the other banks super active in the RE world.
Thought JPM was the best.
Other groups that are good are Moelis (better GAL than RE) and DB afaik
Really? I haven't heard too much about JPM. Also heard Moelis is strong in gaming but I am more focused on the RE aspect
Moelis advised on a few Marriot and Hyatt deals that I’ve looked at
You are correct on BAML, WF probably a tier down from JPM as others have mentioned. WF and Citi would be tier 2 IMHO
So would you say tier 1 is BAML, JPM and tier 2 would be WF, Citi, MS?
Assuming boutiques aren't that active in RE compared to BB due to the debt needed in RE?
I’m not in Regal so I am just asking - Wells and Citi are that close? I used to work at WF and know the team did a lot of lead business with blackstone, I think they have led a considerable amount of their REIT transactions over the past few years.
How is Lazard’s REGAL team?
To be clear, “advising” Blackstone is about as meaningless an assignment as a junior banker can do. If there is even work to do in those projects, it’s unlikely to be anything more than summarizing data the buyer downloaded from the data room
The best banks for REGL are the best banks in every industry… JPM, Goldman, BofA, MS
I did qualify my comments above by saying I don’t work in REGAL. Do you have any tables available?
Bump on that
following
There is really not a ton to differentiate the different REIB groups. BAML, WF, Morgan Stanley, Goldman Sachs, JP Morgan, Barclays, Moelis, Lazard, Evercore, PJT, Citigroup will all get you solid REPE exits at the analyst level and REIT exits at the VP Level.
If you’re looking to move up in banking, needs to be at a bank with a balance sheet. Debt financing is the most important aspect of REIB. You’ll be awarded M&A deals because you do a lot of debt financing for client - not because of your M&A prowess
As someone said above Moelis Gaming, Lodging, and Leisure is pretty strong. They advised barstool, numerous hotels, and many casinos. I am not sure how strong real estate specifically is but gaming and lodging seem to be top of the street with some strtong MDs. Spoke to an MD that works in REGLL, more on the Gaming and lodging side and he was proabbyl one of the nicest humans I have met. Culture seems to be very good as well, but hours could be brutal
lol dave portnoy cursed them out after the barstool deal
BAML followed by Wells (I work at REGAL in another bank). BAML has been crushing it in REGAL for many years and Wells is up there as well.
After that, you have MS/JPM/RBC. I don't get the hype around Citi. Besides the Duke deal last year I haven't seen much from them.
If you are looking more at the gaming and lodging, MS/PJT/Moelis are solid choices
I know I am late to the thread, but I heard PS has a hospitality group that acts like a REGAL group. They are apparently well known in the hotel space and have been growing in recent years.
Just go directly into repe. If you go to a top schools it’s pretty easy to make the jump. Why waste two years in IB just to end up in the place where you could started at.
In London it is Jeffs but if you want to do really RE IB please go to Eastdil
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