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Blair > Baird = WF > Truist
Ew
What group? That makes a massive difference. If you're talking REGAL / FIG then I would go with WF in a heartbeat. If you're talking Tech M&A I'd go with Blair. Really in no situation would I go with Baird.
In Industrials Baird is the clear choice. Also Blair is clear choice in Healthcare.
So the consensus is Tech, go with Blair. Industrials, go with Baird. REGAL/FIG, go with WF. Any circumstance that I should go with Truist? Also, what about other groups such as HC/C&R?
Baird has hands down the best MM industrials group and a solid consumer group as well
He’s talking about Lazard middle market, not freres.
Fairly clear choice of either Blair vs. WF here. For Wells a handful of groups stand out significantly from the rest which are REGAL, Sponsors, Lev-Fin, and E&P. These groups are able to utilize WF's gigantic balance sheet. For Blair, Tech and M&A are its bread and butter but the majority of its groups do well and place well. If you can place into the those top groups at Wells go for it, otherwise the Blair generalist offer is much better, especially if its Tech / M&A.
Wells sponsors is not a good group
Yeah, as a former employee it’s always strange when I hear about the sponsors group. That being said, they have made a few key hires in order to turn that group around. Their new head of IB was C level at CS IB for a long time, there have also been MD level hires who seem like they would have some sponsor relationships. These things take a while but I have seen WF in more active roles on some sponsor led deals, some recent lead lefts as well. When I was there I don’t think there was as much sponsors activity but it’s hard to tell what it is like now as the league tables don’t paint the full picture and sponsor activity has obviously slowed a great deal.
Truist is not in that conversation at all…the others depend on which groups
Who would you say Truist competes with?
Regional banks…comparing them to boutiques listeed in this thread isn’t a good comparison and WF is top 8 in IB fees this year and just below top 10 in buy sure M&A. I used to work there, we weren’t baking off against Truist.
I would personally go with WB based off the groups you asked about especially if it’s for Healthcare. As someone mentioned (which I wasn’t familiar on), Blair seems to do really well in Industrials and WF is more financing that pure M&A work. If location is a factor for you (Chicago is big for WB, Charlotte for WF, Atlanta for Truist), something to consider as well, whether it be now or in the future for your career but not sure if you’re willing to disclose the groups / locations for the offers.
Congrats on all the offers though - would love to hear what you decide on
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