Saw a similar post for industrials recently. Wondering what the landscape will look like for consumer retail bankers for the rest of the year going into next year. Obviously M&A has somewhat come to a halt and there is a lot of uncertainty and restructuring work on the retail side, but what kind of work are CRG bankers seeing most of today and what is the outlook for the rest of the year?
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I'm in a consumer & retail group and honestly don't feel like M&A has ground to a halt at all. It's slowed down, sure, but we've closed two strategic acquisitions and an LBO since COVID began, with more in the pipeline. There is also a fair amount of restructuring going on with retailers that we're working on.
Anecdotally from meetings over the past couple months, a lot of our clients that are on solid financial footing (many on the consumer side) are looking at this opportunistically, as a chance to capitalize on the troubles that some others are facing and acquire them. We're also seeing a lot of consolidation in retail, new trends, etc. It's definitely an interesting time to be in the sector.
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