I have signed an offer for an IB SA position. Since we have to submit our preferences for teams, which ones are the strongest ones in terms of dealflow, reputation and exit opps?
I have heard that Industrial/FS are good groups, but I would like to know more about if there are any other strong groups.
Thank you very much in advance!
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If FS is Financial Sponsors not sure I’d recommend them, know from a LevFin perspective they struggled quite a bit getting deals approved. TMT / Industrials seem to have done very well with the whole SPAC thing where Citi is really good at.
Thank you! For conversion purpose, would you recommend going to a large group?
For Europe only (there are sometimes differences in quality between the US and European teams):
Good: Industrials, UK team, Power & Utilities & Infrastructure, Media & Telecoms
Average: Tech (but getting better and trending up towards good), FIG, Natural Resources, Financial Sponsors, EMEA M&A
Bad: Healthcare, Consumer (clarification - they are quite good in luxury, but this is mostly covered out of Milan), Real Estate
NB leveraged finance is more of a capital markets group like ECM at Citi, so I haven't included them in the above list. However, Citi is pretty notorious for not being able to provide attractive LBO packages to private equity.
Surprised you put NatRes as an average group. I work for a competing bank in that space and Citi is top of the league tables by a decent margin. I would have thought they're Citi's best group as none of their other groups are top of the street except maybe P&U.
That could be right. Nat res is the team I know the least about.
For clarity, there is no official nat res team at Citi. Metals and mining sits in the broader industrials cluster and i believe they are pretty good. i dont know much about oil and gas in london - in houston they are good.
Wow very detailed, thank you! For conversion purpose, would you recommend going to a medium or good group since they are more likely to have headcount?
Believe P&U and Telecoms are the strongest for Citi LDN.
Fig, TMT, industrials, p&u used to be the top notch teams
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