BEST Restructuring experience in London
Hello monkeys,
I wanted to get an impression on the best restructuring experience in London in terms of skill building and exit opps. I assume that specialist programs like Evercore/HL/RS prep analyst better for distressed roles than generalist places like PJT/Laz/Moelis, even though PJT is top notch in RX.
Another thing that caught my attention after a quick linkedin search is that the London offices of Oaktree and other loan to own / distressed for control places hire mostly from GS/MS and not candidates from restructuring backgrounds. Is this simply a statistical phenomenon since the analyst classes at these BB are larger or do GS/MS place better at a distressed PE than a RX guy from HL/Evercore?
Appreciate any replies!
Easily PJT in my view.
Deutsche bank will offer you first hand experience on restructuring
Rothschild probably top RX firm in London over the long-term.
RX experience not necessarily required for buy-side distressed roles. It's probably more valued at leaner shops though.
Deloitte really is top notch in restructuring. They used to compete with EBs, but nowadays they can’t compete with the EBs specialism. Deloitte usually takes 5-7 people each summer in RX. Then come PWC and KPMG, who are relatively good in RX. KPMG have recently launched a Special Situation M&A group, which should beef up their rx division. EY are generally quite poor for corporate finance.They have a very Lean team, of course this gives you great exposure, but this results in you often being in the office to 1/2am for pretty rubbish pay. If your willing to stick through it, you will be able to get a decent exit, but would choose any of the other big 4 firms instead. Ultimately, Big 4 Rx is a decent path to take, as you can do your ACA and shortly after qualification you can lateral to MM PE or an EB, who will appreciate your technical background. Lazard/Rothschild take 6 each from the big 4 every year. Greenhill usually take 2. Other firms are very receptive to big 4 Rx. You will come in at Analyst 3 or associate 1. This will almost quadruple your salary.