Bulge Bracket Consumer Teams
What bulge brackets have the best consumer and retail teams? Also would appreciate any insight into how those groups are at the respective banks (culture, deal flow and level of sweat)..
What bulge brackets have the best consumer and retail teams? Also would appreciate any insight into how those groups are at the respective banks (culture, deal flow and level of sweat)..
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What kind of question is this? Which BB doesn’t have a consumer retail team.
Mistyped the first sentence - meant which is best
In no particular order
BAML has a strong team. Lots of execution.
MS pretty bad culture, unhappy people and too much politics at the top
CITI is ok, many deals, there are some assholes too, but overall not a bad place to be.
JPM don’t know that much, feel culture not great but could be wrong
CS has a strong team, probably best group behind Sponsors to be.
UBS don’t go there
GS go there for the brand name, but would prefer other banks to be honest. Still a good deal experience but bad culture.
DB better than UBS. Good culture and nice people.
Any insight into Barc,Jef,EVR,PJT?
Small, close knit team. Hard to get into from SA, lifestyle team for Jeff CR
Isn't GS C&R supposed to have one of the best cultures among the other classics groups?
CS advised on 1 deal, C&R is not top coverage behind GIG and Tech
CS advised on the 2 largest deals in Retail in the last 2 years. Albertsons/Kroger and 7-11/Speedway. It’s a top team across the street and understand also within CS, according to my friends there.
I can only imagine how much they would do if they didn’t have to deal with all the noise of the restructuring.
Work with the Citi C&R team a lot and can confirm the above. Decent deal flow (more so on the capital markets side than M&A tbh) and mixed bag culture wise.
They lost a lot of MDs recently to the likes of RBC and Jefferies but are trying to fill the void.
Were on the Albertson's Kroger deal as well which was a pretty landmark transaction.
Albertons / Kroger hasn’t closed and doesn’t count given FTC scrutiny
JPM consumer team is toxic source: i was a intern in 2021 in different coverage group and heard bad stories from my freinds
Can confirm as a 2022 intern LOL
Here’s the league tables from Factset since 01/01/2021 until now.
M&A advisory only. North America.
Sector filter: Retail trade, Consumer Durables and consumer non-durables.
So basically the bulk of R&C. Appreciate that some eCommerce gets covered out of R&C at some banks vs tech, so this is not adjusted for that, etc.
I’m surprised about WF & RBC. Probably just advisory credit for league tables in connection with balance sheet financing.
WF only has 5 transactions so probably just got lucky as joint on a big one
was joint buyside on the albertson deal
This is a pretty wild lineup:
Seems uncharacteristic for Citi and BofA to both be ahead of GS which also raises the question, how tf is Jeff, RBC, WF ahead of MS which isn't even listed on the top 10?
Is MS C&R really that weak?
edit: not even sure why I’m getting ms for this
Citi C&R combined with HC so that could be why. Also confused about MS lol
Something wrong with your screen. There is no way Gugg does that much in consumer M&A.
Didn't they hire a Rothschild Consumer M&A guy last year
Can you share the industrials league table
Would appreciate this too.
Surprised, seen MS' consumer team do a handful of $1-3bn sell-sides in just 21/22 (though dislike working with them) would've thought they would be in the top 10
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