DB levfin
Can anyone please provide any color on the culture and hours? What’s the outlook for the group given they’ve been downsizing IBD?
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It's quite the opposite. They are investing in their IBD, the CEO made it clear multiple times and they hired 50+ senior MDs last year while everybody else was downsizing. However from my understanding the new strategy is to focus on the capital-light aspect of IB, i.e. more M&A and less LevFin (with limited success so far). Imo they won't increase the size of the group but it is such a legacy franchise and an important source of client relationship for DB that I don't see them abandoning it.
Thank you! That’s really helpful. Would you have any insight on the culture/hours within the LF team?
Idk about culture but I expect them to be extremely busy given the pickup in refinancing / acquisition financing and the limited number of hires they made at the junior level. I wouldn't be surprised if they are now working sector coverage hours
Bump
Strongest group at the bank historically alongside REGL and sponsors. They will still be the best for DB generalists just because of their historic reputation. Yes, the other groups had more hiring and LevFin isn't the focus but ultimately they get the best interns as the strong interns all try to recruit there given historic exits and have the strongest historic reputations and thus they will remain a top group at DB. Ic other groups eventually overtake them especially if deal flow in any specific group picks up significantly, but that has not happened yet.
any updates to the group and how their culture is? Assume long hours despite the short market turmoil in April?
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