BofA Coverage Groups 2020
Hello everyone,
I saw posts like this for other banks and was curious about BofA. What are the exit ops for coverage groups like? Which coverage groups are best? Which have the best culture? Any insight would be appreciated
BofA Palo Alto (Tech) places fairly well into a variety of tech-focused growth and private equity shops.
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i know you asked for coverage but their SF sponsors team is small but places really well into TPG etc. don’t know about LF exits but their LF team is top 3 right now.
Also interested for NY
for NY - I know Industrials and Lev Fin is very strong. Might be some other teams that are on par but I work with those teams.
BofA is very product strong- M&A and LevFin are your best bets. FSG is probably the best coverage group for PE exits/dealflow/culture. REGAL is also good, but very niche.
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Fair. My comment on REGAL is based on what bankers in the group have said, so probably inflated.
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Baml REGLL is top tier within the space, obviously not for generalist exits but same can be same for JPM, Citi, DB etc
From what I've heard, C&R and healthcare are considered very strong with some of the best exit ops from coverage groups
For what it's worth, everyone I met in C&R has been super friendly.
also, does anyone have experience with FT offer rates at BofA? I heard previous years FT offer rates are pretty high. Any insight? or opinion on how they will look this year ?
historically theyve been low but recently theyve been higher, im sure this year should be good too
Industrials is very strong
Any thoughts on TMT, Industrials, FIG, and NatRes?
I just finished my time at BofA in a product group but worked some with Nat Resources and my experience with them was pretty toxic. I was working with some of the most senior guys in the group and they were what you imagine the old school banking aholes as.
There is a rather high turn over on the junior team for this reason.
Nat Res only has four MDs and between the four of them they bring in ~$200mm in fees on an annual basis. Turnover is high, and MDs are tough, but deal experience is great and working in the group will turn you into a savage.
what about healthcare and industrials ^
Healthcare/Industrials both have mediocre PE placements, with MF and UMM exits being very rare and MM doable.
Not true. It is more of a selection bias tbh- kids I know in these groups got interviews p much everywhere
How is the culture in the industrials group?
I just finished my analyst program in a different group but worked a bunch with GIG. Overall a decent culture, a bit fratty from the social side, but nice people, with at least one group head who is very much a human being. They do grind pretty hard cause BofA is decently strong at industrials.
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Recently left the firm as well and would say desirability of the groups from an exits perspective is close to the following:
FSG >= LevFin = M&A >>>>>>> C&R = HC = TMT >> REGL (strong but niche) > FIG > NatRes
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