How are the energy groups in Houston for Wells Fargo and CIBC? Culture, hours, team, exit opportunities, etc.
Looking to pursue both but would love to know anyone's experience with these groups. Any help would be much appreciated.
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Wells Fargo is underrated in Houston. The office has been involved in high-profile energy transactions, including Chart Industries, USA Compression, Mach, and Antero. They recently hired a Midstream MD from GS to spearhead the midstream advisory. Exit opportunities are not purely traditional O&G, with many analysts placed into Texas-based lower-middle-market PE funds such as Capstreet and Insight Equity. While the exits are not top-tier. Among the balance sheet banks in Houston, I would say their comps are Barclays and Bofa, a tier above Scotia and TD, and clearly a tier below RBC and JPM.
CIBC’s stated focus in Houston is CCUS and midstream, but there is no actual deal activity. Their most recent notable involvement was the Colonial Pipeline transaction, where they served as maybe the third advisor and arranged some debt. CCUS is dead. For the exits, the sample size is too small. I know one analyst has recently exited to CIM Group in California.
So CIBC's not good what would you say is their total comp - recently interviewed with them for FT but didn't get it.
CIBC isn't relevant- 100% Wells. Agree with earlier deal flow point, Wells also has great culture
Wells without question
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