Folks,
Can we please share our perspectives about this group? What is their comps structure and culture like?
Would you get decent exit opportunities if you do intend to leave? Do they support long-term career trajectory?
There are a few other MM banks in Minneapolis so I am not sure how this M&A group provides opportunities for analysts to get deal reps.
Thanks!
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Group has been gutted post-BMO merger. It was a boutique LMM firm named GHF that was acquired by BMO ~6-7 years ago and most of the people left. It's a shell of what it was (used to be 30+ bankers). There are basically two MDs left doing deals and they are both at the point where retirement is a viable option. I would not expect BMO to be investing much into Minneapolis as it's entire commerical banking team quit recently as well.
A few of the analysts have gone to MM PE funds, primarly in the MW and a few others to Corp Dev., so it's still a decent overall brand.
As far as other MM banks, it's a step below Piper, Lazard, HL and HW in Minnesota.
Thank you for your inputs. I appreciate it. Of course , when recruiter reached out, their playbook to advertise the group was “tremendous deal flow, good culture, etc.”. Hence, I wanted to hear more before I took the interview. Thanks, once again!
No problem. I don't know your circumstances, so it could still be a step upwards if you are trying to leverage a better brand and/or more reps, but the recruiters aren't going to give you the honest scoop.
This is inaccurate, at least for the team in 2023. The MM M&A group is 55+ bankers, with 13-15 MDs. (Team has more than doubled since 2021). Dealflow for the team has been exceptionally strong. (Probably 40-50 active deals, lots of things in the pipeline due to massive commercial bank, Bank of the West, and internal sourcing). Culture is very good from both a junior and senior perspective. Comp is in line with both broader BMO and MM street.
Exit opps are the same as any other MM bank.
Thank you. This is helpful!
OP specifically asked about Minneapolis. The team in Minneapolis is a shell of what it was. There are two MDs actually executing deals there. BMO isn't investing in the Twin Cities any longer.
They do have extremely strong deal flow. Target EV is under $250 million for that group vs. over $250 million for the rest of BMO.. so smaller deal size but they have a lot of live deal activity and strong pipeline (based on my convos with a few analysts and VPs there).
Wow that seems quite LMM range. Not sure how much fees they can pull in to well compensate their staffs.
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