CS Industrial - Chicago
Opinions on the group? Dealflow, exit opps, culture, etc.?
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Unless you have a specific reason to be in Chicago (Family, etc) I would seriously argue to move to New York. Generally the regional offices are viewed negatively and are at the bottom of the bucket in terms of getting better assignments, deals, respect (regardless of whether or not that is founded). The one exception I have run across are Natural Resources or Energy banking groups in Houston, but that clearly is just a coverage issue.
Chicago is a tough place to be because there's no specific need or client base to cater to for a bank to have an office in that city (unlike New York, Houston, or Menlo Park).
it houses the worldwide industrials group, and they are completely autonomous...meaning they source and execute their own deals, M&A and financing.
Thanks for the post, but I know several banks have decent industrial operations there...GS has their industrial and consumer group there, and both are doing well. If anyone has any specific knowledge of CS in Chicago, that'd be appreciated.
I have offers from both places and deciding on which place to choose. It seems like UBS office is new and gaining momentum, but the most senior bankers in the office from CS. CS has 2 or 3 co-heads and chairmen out of the office, so lots of deal flow. Kind of generalist experience (industrials, buisness services, little consumer). I know that UBS has done better than CS for the past 3 years, but what bank is better in terms of the people and prestige to work with? I have a final round with Goldman chicago in a week also.
CS Chicago office is up my alley...
The two co-heads of M&A in Chicago have been co-heads of that office for over 12 years! Steve Koch and Bob Murley. As a VP at CS once said to me "One knows everything, one knows everybody!"
The head of UBS North America is a joint JD/MBA who was bred and raised at the CS Chicago. Outstanding gentleman. Left CS in 2002(?)
A few years back, the office also had a niche healthcare operations practice. Also, ex I-banker also bred at CSFB is head of corporate development at Boeing. Anyways, I'm getting off base...
The CS Chicago office has one of the more collegial environments in the city. I believe it remains a highly regarded, influential office. Solid, stable group of folks in that shop. If Industrials is what you've been offered, I think you will be quite pleased there.
How can you have GS final rounds for Chicago?
The office only takes second years...
You have an offer from UBS Chicago? When did you get your offer? DId you intern there? I applied to that office, but was told that they were no longer hiring. They said they would forward my resume to UBS NY, but UBS Chicago was not an option. They even cancelled on-campus interviews at my school. :(
I have heard good things about both CS Chicago and UBS Chicago. I read in some other post that they were the top two banks in Chicago.
Does UBS Chicago execute all own deals or is it out of NYC?
they execute all their deals
CS is under hiring freeze...
They were on campus this week. They're on hiring freeze as the entire firm or just the Chicago office? I got into UBS Chicago right after the summer, but have been putting it off. I'm leaning towards either CS or GS if I get that (for Associate position) It seems like CS is better than UBS in Chicago. I think UBS is taking 4-5 people. As far as analysts, they filled class from summer interns. I have buddy who works there and was telling me that.
Can I ask you a few more questions?
What do you mean you got in right after summer? Did you interview for a position or did you come from another firm or did you intern there?
Also, what do you mean by UBS is taking 4-5 more people. Does that mean their class isn't full?
Also, do you happen to know what the size of their analyst class is?
Thank you very much.
You are a grad student, I thought you were a lateral. CS is under hiring freeze for all laterals.
As far as Chi shops prestige I'd rank 1) UBS tie w/ CS, perhaps slight advantage to UBS, 2) GS 3) everyone else.
Hiring freeze at CS is firmwide (perhaps minus LA, I have yet to speak to them)
I know people who are interview at CS in NY for analysts and associate postions. Who told you about hiring freeze unless you're referring only for laterals? THat might be true indeed. I don't think they filled up the entire class from the summer pool b/c they wouldn't go to their core schools for recruiting otherwise.
I worked at another bank in NY and had contacts at UBS in Chicago through friends. I meant UBS is taking 4-5 full-time associates starting in Augst 2007. For analysts, ti's definitely full. I think size is around 7-8, but everyone except 1 person that worked there over the summer is accepting.
The one great thing about GS Chicago is the presence of Byron Trott, one of the heads of the investment bank (I think he might even be a Vice Chairman). Regardless, he lives in Chicago and takes care of the bankers there. He's also the sole personal banker to Buffett and Berkshire.
speaking of CS industrials, looks like CS won the sell-side mandate in the Tata-Corus transaction, following on the mittal-arcelor deal - looks like pretty solid industrial creds so far this year.
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