Citi TMT Team --Deal Flow?

Citi splits TMT into Tech and Communications. They lost a lot of the tech team to BX a few years back, but they are rebuilding. Communications has been strong historically, but am not sure how they have been doing in the past year or two. No clue about satellite offices.

I was focused on getting tech so I interviewed with a number of the groups in Menlo Park/Palo Alto. What I took away from it was that in terms of tech m&a I don't think citi stacks up all that well relative to a lot of the other groups out there. They're competing with GS, MS, BAML, JP... not to mention some of the boutiques like Qatalyst Partners who are killing. I'm not dogging on the group, but that is just the feeling I got.

With that being said, I probably wouldn't worry about it until after you get an offer from them. If you have an offer and have to make a decision between them and someone else, that's when you dig a little deeper. If it's between Citi tech and some less known MM, you'd have to make the call whether having the Citi name as a starting point on the resi is better than no-name but good experience. That's a whole new topic though.

T and MT are split between tech and communications groups. Not sure about west coast offices (I think they did Zillow IPO) but in NYC Media & Telecom is supposed to be very good but the separate Tech group isn't that great...

Citi comms is a strong group that is fairly selective in picking their summers. Citi tech doesn't really have a significant NYC presence if I recall correctly and does not seem like a strong group in terms of deal flow.

I will say that I heard the NYC tech group has a good culture as of 1-2 years ago. I think their deal flow is picking up, and that they've benefited from the recent tech mini-boom.

thanks guy! that's also how i feel. i know the citi communications group is fairly strong but felt the tech lacked some power. im sure the deal flow will pick up now with these recent hires, but it sure will take sometime to match up to the other big guys.

i can comment on the fact that tech team is pretty bad in palo, not sure about M and T

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Citi is currently in Palo Alto but they are moving to SF within the year.

I interviewed with the Technology group and was not impressed. The group is composed of your typical math geeks who can crunch numbers like no tomorrow but no social skills. Perhaps this will change and maybe they can attract some better talent when they move to the actual city.

I declined their offer.

What products do tech teams normally deal with? HY? Equity offerings? M&A? Traditional advisory (ex. takeover defense)? Or really an even mix of them all?

from the looks of it, seems like a team to avoid at Citi!

What's stronger. Citi or BAML