Citi Tech - Weakest Group in SF
Recently left this group it was nothing like what I was promised and experienced during my summer.
1) Too many egos without merit; chill out dude you’re going to a fund with $5 Billion in AUM.
2) Haven’t closed any deals since the rainmakers left to Everecore even heard one more senior banker left to join the winning team.
3) All they do is pitch and never win any mandates.
4) Exit Opps suck because you don’t do any modeling just stock charts and “BS”analysis
My friend is at Jefferies SF they have awesome placement, MDs that can make calls to help you place and actually do deals. Think twice before joining this group because in my book it’s not a BB.
End of Rant.
cool story
But true
I've heard some pretty shitty things about Citi SF as well...
I agree with all of these points.
Can confirm Jefferies has amazing deal flows
these 8 / 9x buyout trades aren't going to lever themselves. god bless jefferies
I heard Citi Tech went on a hiring spree of a bunch of MDs, personally never experienced the group so not sure what it's like, but I would also probably take everything on this forum with a grain of salt...
My MD just left to go to Citi tech.. this forum is a bunch of Jefferies kids who hate their lives in MM
This was relatively true in recent years (to other SF groups), but the IB heads took note and did what every investment bank does when a group is weak. As mentioned above, MD's were poached and the global tech head sits in the SF office. Granted, it'll take a few deals and some time for PE firms to notice and the ball certainly needs to get rolling, but the experience as a junior will still be a solid learning opportunities, especially given that M&A is done in house. The OP certainly isn't a good indicator of the culture and I suggest anyone who is interested in SF tech groups do their due diligence on each bank instead of relying on posts such as these.
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Anyone have anything more up to date on Citi SF Tech? Looks like they brought in a guy from DB and a girl from GS to co-head the group.
Bump
Bump. Heard they've done lots of hiring recently and been growing the group. Any updated thoughts on rep/deal flow/culture/experience there?
Agree with the above^. Be wary of these types of comments on WSO, some of them don't even work in IB/PE. From speaking to a lot of senior tech bankers in the industry, Citi SF Tech has definitely been on the rise more recently and is a great place for analysts to gain exposure. They do in-house M&A modeling and run very lean deal teams with only 1 analyst on each transaction, which gives you great exposure to develop key skills needed for PE or otherwise. This is unlike the tech coverage groups at firms like JPM and BofA that outsource the technical modeling work to a dedicated M&A product team. They are also currently the leader in SPACs advisory, followed by Goldman. Some of the recent exits from Citi Tech include Vector Capital, Marlin Equity Partners, Permira, H.I.G., GI Partners, JMI Equity, TA, Summit, Charlesbank, and Softbank. However, I did hear that the team is known for crazy hours at the analyst level (110+ hours for certain weeks) and an "intense" culture for the most part.
Can confirm the above. Citi SF Tech is a much better group now than it was five year ago given the current trend and progression. Maybe not the best culture or hours though.
Deal team is so lean they had to eat half their analysts to survive
They just do shitty lending at unprofitable rates and get people to pay them mercy fees for capital markets. Tech investment banking in sf is qatalyst and Morgan Stanley
CS SF tech pretty strong as well. Not as MS or Q but top of the tech ib league.
Friend in the office told me they are absolutely crushing it this year. Office has become incredibly sweaty given deal flow, but apparently they're on track to more than double their fees YoY.
What about NY office? How is the tech group there?
Interested how these rankings differ for NY Tech offices
just curious any update on recent CITI tech SF team?
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