What are the strongest firms/groups in Chicago right now? I've heard generally that Blair has fallen off over the past few years and Baird is historically strong, but what's the overall scene? Looking primarily for insight into LevFin/M&A teams, open to any sort of color however...
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On the MM and EB side:
Blair: large presence in Chicago with multiple groups. Historically the powerhouse of the Chicago IB scene but has gone through some turnover and culture issues. Still the largest Chicago presence
Baird: Another MM bank with large Chicago presence across multiple groups, with Industrials the largest in headcount and probably strongest in terms of deal flow. Historically been a solid place to be but pretty sweaty.
HL: M&A and RX teams in Chicago, with HC and C&R the strongest M&A groups in Chicago (HL C&R Chicago is especially strong). Sweaty.
Guggenheim: PEAG group (read: MM group). Pretty large presence, with strong deal flow primarily focused on tech services and business services, with C&R and Industrials a smaller focus
Greenhill: Industrials focused office. Historically one of the strongest groups in Chicago from a junior perspective with good deal flow and strong buyside exits, but their best MD left for Solomon Partners.
Solomon Partners: Relatively new office focused on business services and industrials. Pretty lean group that's been on the sweatier side, but deal flow has been good across the MM space.
Evercore: Paper and packaging. Chill group of people
PWP: Industrials with a focus on metals and mining, automotive, and business services. Culturally on the chiller side.
Moelis: Small group that focuses on industrials but also gets cross staffed with NY. Heard good things about culture.
Why no commentary on Laz given your experience?
laz has a rx and healthcare team in chicago
healthcare is satellite asf, one md, two analyst, not sure what’s in between, chill team, hella chicago bankers leave 5pm friday
rx more competitive i would assume
Super helpful, thank you. I've seen some Chicago FT openings for M&A at JPM, any idea what industries that'd be? Also seeing openings for the newer Cross-Markets group at GS which is fairly industry-agnostic, how've they've been doing so far in Chicago?
Bump
JPM Chicago M&A is generalist, but you'll do both middle market (I think they call it mid cap?) and normal JPM deals. You'll get staffed with deal teams in NYC and SF, so not really sure why they sit in Chicago, but I understand it's a small team. Don't know much about GS CMG except they lean more towards business/consumer services deals to sponsors.
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