Citizens thoughts
How is their consumer team and can you lateral from corporate finance or you are better off doing m&A
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exit opps to bb or eb
this is straight cap. the only place you could probably lateral to after working at citizens is Tobin&Co... ok that might be an overextension but their IB/banking side of things is non existent even though they claim to expand it.
Re-recruit if possible. Unorganized management post-acquisition spree. Summer Analyst experience is hit or miss
How’s the hours/pay for other teams or insight to their m&a team
Former analyst at citizens here.
Agreed with prior comment that it’s disorganized post-acquisition spree. Some groups are immensely understaffed while some have significant bandwidth. To clarify, Corporate finance is the same thing as M&A, just affects which coverage group you are applying for. Not sure why the Corporate Finance and M&A are labeled differently. M&A in NYC means you are doing digital infrastructure coverage, M&A in southern offices means you’re probably doing Commercial Services. Corp fin could be Tech, HC, FIG, REGLL, and more. No idea why they are labeled differently as M&A is all handled in-house by coverage group (no M&A specific product group).
With that said, culture and deal flow depends on the group. On a deal flow/experience basis, Digital infrastructure (formerly DH Capital) crushes it. So do Commercial & Industrial Services and real estate/gaming, lodging, leisure. Those groups are relatively strong when compared across the board with larger banks (even BBs).
Then there is a large drop-off, where other groups are significantly weaker than banking peers and hardly do M&A, generating almost all fees from ECM.
Banking peer comps are totally dependent on the Citizens coverage group.
Can you PM me. I’m interested in getting a bit more insight on Citizens from you if you have time.
how is their fig coverage group? I’m assuming mostly capital markets?
Almost all fees generated from capital markets. You’ll have M&A deal flow, but it will be very low quality companies for the most part (depending on your MD). Still, there are some good MDs. Aside from that, I loved their junior bankers. Some great people in that group.
Might add the the consumer team is a cool group… they do a lot of smaller franchise systems sellside deals (specifically with restaurants and fast food chains) and are mostly from Trinity Capital (one of Citizens’ tuck-in bank acquisitions to bolster M&A). Understandably they do a lot with sponsors like Roark and Rhone. MPs often have raising canes or zaxby’s, which is fantastic if you ask me
Any advice on getting an interview? I'm reaching out with a good resume, but no one is responding.
They take referrals from current employees pretty seriously, so networking is important
Whats the SF team like?
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