BMO levfin spiraling?

Know it’s a mid bank for advisory but they do have a big ass slutty balance sheet that can support LF platform. Pretty active UW but hearing LF is imploding and basically will have no bodies by year end.

People are saying some inappropriate relationships and huge egos are wreaking havoc. Blah blah. And Chicago office got rug pulled out to build “culture” or something 

 

Based on the most helpful WSO content, BMO does have a significant presence in leveraged finance, particularly through its Sponsor Finance group which is known for handling mid-market leveraged loans. However, there is no specific information in the provided context about the internal dynamics or issues such as inappropriate relationships or problems within the team that could lead to its implosion.

For more detailed insights or updates on the situation, it might be beneficial to check recent discussions or news on the Wall Street Oasis forums or other financial news sources.

Sources: DCM and LevFin in Canada, BMO Sponsor Finance insight?, LevFin in London, JPM Lev Fin vs. BAML Lev Fin, Not a Boom Time | The Daily Peel | 8/25/22

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
Funniest

Associate 2 in IB - Gen:

Lots of people are quitting in droves because of the shit pay last year (across BofA IBK, not just levfin). But I can’t speak for the more juicy stuff (inappropriate relationships etc).



What I can say about the group - people are frustrated by the firm’s reluctance to “lean in” to their competitive advantage of ability to deploy a strong balance sheet, etc. This is happening for 2 reasons.



- BofA is traditionally a very conservative / bureaucratic bank from a lending standpoint, even moreso than other banks like JPM and Wells



- The bank got BURNED in 2022 by a few huge leveraged loans (Twitter etc), and a few high profile (and competent) MDs got canned. This has the remaining LF MDs spooked and they’re nixing a lot of potential deals



IMO, the bank’s built in competitive advantage is its balance sheet, and it’s a shame they aren’t leaning into that and are instead spending a ton of resources trying to win dinky M&A sellsides (EGRC). I understand the strategy to some degree but it also doesn’t take a rocket scientist to figure out that you’re not the caliber of GS and MS from pure advisory standpoint, and they need to leverage the balance sheet to counteract that. 

 



Anyways, I think that’s moreso the reason why LF at BofA is dying. No willing to take risks & no pay, driven by some adverse events in 2022.


Maybe you should confirm the bank this thread is about.

 

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