Biotech IB... top groups/offices?
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JPM Hong Kong is pretty focused on healthcare. Apart from that, a number of middle market firms in that range in sell-side. From what I remember faintly, Cain Bros SF and Cowen and Company are also leading in healthcare. Haven't heard of a strong rep from Wells Fargo SF.
Thanks! But do they also cover Biotech in HK?
I know Cain's pretty strong in HC, but they do not cover Biotech (yet), only pharma and services...
Dunno about biotech specifically, but if you're narrowing down to specific Biotech coverage, I doubt you'd find many banks doing so. Even if they would, they wouldn't hire a guy rightaway out of undergrad SPECIFICALLY for the biotech group (you'll have to go through the generalist process and yada yada), or you could hedge your bets and luck out too. Best bet is to go for pharma focused groups.
Note, I'm advising coming from the same problems as you. I once focused on just biotech groups and did not get selected in any banks for internships. Ended up going into an engineering intern that summer. Which sucked. Don't want to get into that quagmire.
I've seen biotech in Boston offices for a few banks; Piper, Baird off the top of my head. There are a lot of boutiques out there too (Leerink, JSB, Backbay Life Sciences, etc). If you're really that passionate about biotech, theres a lot of consulting for Biotech out there as well. I dont think there are many big banks with groups specifically covering biotech companies, mostly its just HC groups that cover all verticals.
Agree with this. Boston is great for healthcare opportunities, while SF banks are just too hard to get into, considering everyone's behind tech and HC in Cal. Ideally though, you should be looking at where your school is to maximize chances.
For Piper HC in Mpls is broken up into 3 verticals: medtech, HCIT, biopharm/biotech.
Thought their main biopharma office was NYC though...whats in MPLS?
Pretty confident Baird does not have a IBD office in Boston. Piper's office is like 10 ppl only doing Tech.
They have 2 IBD positions in Boston listed on their website right now.
They most definitely have a life sciences office in Boston.
Would add Cowen and Leerink to the boutique list.
Cantor is actually making a huge push up after they hired Sage Kelly. They just recently started building out the research arm by drawing over some big name analysts and brought over Barclays head of US equities to lead their global equities business unit.
I would def shoot for going there because no doubt orgies and, for the more senior crowd, wifeswaps, will be included in your comp package.
I didn't know about this. When did Cantor become a fuckshow? Thought they became real solemn after 9/11.
In SF, Wells Fargo is strong in biotech -- but I know someone who worked there and was basically a slave.
I've heard of the shit culture at WFC in general (not encouraging of exits, too slow and hierarchial compared to other firms), but not heard of it being a strong biotech shop. Usual names are MS, Laz and JPM, though I may also be wrong/underexposed.
leerink jeffries Cowen are all really good. cantor is doing really well getting exclusive book runner on a lot of deals, but the word on the street is that the VC's are getting upset with Cantor for selling bought deals. A lot of their clients wont be banking with them again.
http://www.roth.com
Roth hc team just left for op. Co
FYI, this is a SF perspective. Can't believe no one mentioned CV... CV has been killing it in biotech the past few years; I would say CV is the current leader (coming from someone heading into a life sciences HC team that's not CV). JPM LAZ and GS (WRA) are strong too.
Also, just to answer your question on whether GS WRA covers biotech--yes they do. Have a friend who worked there this summer.
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