Can somebody explain Lehman's groups to me?
The groups at Lehman are extremely confusing for me. I have to speak with someone from Lehman HK in the coming week to discuss what opportunity I'm interested in. Hopefully someone can help.
From my understanding, Lehman divides its groups into Product Groups and Industry Groups. Industry groups are self-explanatory. The website confuses me, however, when it comes to product groups. Lehman lists M&A as a team within the products group. I spoke with someone at Lehman NY who works in an industry group (but this was a couple of years back) who told me that the website is incorrect, and that Lehman does not have a dedicated M&A team at all. He said that Lehman does all of its M&A work through its industry groups, directly via whichever industry is relevant to the deal. Does anybody know whether this is correct? Also, would this differ between Lehman NY and Lehman HK? (I will contact the NY person again to clarify before I have to speak with the recruiter from Lehman HK).
Aside from M&A/industry groups, I also somewhat fancy the Debt Capital Markets group and Leveraged Finance group. I don't know very much about these groups - everything that I do know I've picked up via talking with analysts/associates working in the groups. I don't plan on staying in banking forever, and do hope to exit, eventually to bschool and possibly PE. I know absolutely nothing about PE. Can someone tell me which of Lehman's groups would offer the best exit opps into PE? (I'm supposed to speak with someone working at TPG in the coming week... would it be inappropriate to ask for his opinion on which group offers best exit opps?)
Thanks.
The product group descriptions are for the senior bankers. As analsyts / associates you would be working in the industry groups that do the M&A themselves.
TPG focuses on tech and media, so look to get into TMT. LevFin would also be useful for any PE firm.
Thanks for the responses. I wasn't looking to get into TPG specifically, but would like to keep my options open at any given large PE fund. I'm inferring, based gomes3pc's post, that it would be more useful to join one of Lehman's industry groups as opposed to a product group - is this right?
Would Debt Capital Markets be a bad choice? Is there a generalist group that is considered the "best" that PE recruiters would specifically target (as opposed to specific industries that get targeted b/c they are the specialization of the given PE firm)?
Regarding industry groups, I'm most interested in consumer products... I've heard Carlyle is good consumer products - would I have opportunities elsewhere as well?
You want to exit to PE when you have absolutely no idea what PE is? That's smart.
Very constructive feedback Danny_ish. Too bad you couldn't get into PE after your consultant stint. Quite being a prick per usual.
To: NYstateofmind: that's constructive feedback. he wants PE even though he doesn't even know what PE is. Too bad you can't understand the logic. Spend your entire day thinking about what I've said, and you may actually get the wisdom of it (although that may be too tough for you).
There's absolutely no harm in saying that it "interests me", as I have a general idea of what the work entails. I don't know how to break into the industry, what is required as prerequisites, or the very specifics of the job; that is why I am asking. I want to gather more information and learn more about it.
You don't seem to grasp the concept that people post on these boards for advice, not to boast via internet about how they went to some #1 school and got admitted to every single of the top 75 MBA programs, but sadly had to choose #4 over #1 because of personal issues, etc. etc. Honestly, nobody's impressed and that high and mighty attitude won't get you anywhere. Good luck succeeding in your interviews with such a high degree of arrogance.
If you don't like my topics, don't click on them.
Can anybody else offer any insight? Thanks!
Lehman does have a Mergers and Acquisitions Group, but the bank also has what are called "verticals" within its industry groups that focus on M&A
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