FIG M&A
Trying to get some basic info re: FIG M&A. Anyone willing to PM me and talk live briefly? Thanks...in advance.
Trending Content - Investment Banking Forum
| +67 | Any tips for sleeping well? | 36 | 6h |
| +50 | Wealthy Parents / Jaded | 13 | 14h |
| +40 | Background check issue IB Full Time | 21 | 13h |
| +36 | Venezuela Debt Restructuring - LAZ vs CVP | 12 | 5h |
| +34 | How are hours rn for SA (interns) | 21 | 3h |
| +28 | Q dealflow slowdown | 22 | 2d |
| +25 | HL vs WB | 19 | 17h |
| +24 | Investment Banking in Mexico | 6 | 4h |
| +23 | UBS GIG, LevFin, FSG Interns working Sundays and 85 hour weeks their first week? | 11 | 18h |
| +22 | MM bottom bucket bonus | 9 | 15h |
Career Resources
FIG M&A usually more process experts and strategic tactics than doing the modeling. Obviously exceptions but always in my exp it’s been me in coverage is doing the model and then overseen by a D/MD in M&A
I’ll echo this. We run our own models.
Thanks. What I'm trying to figure out is how FIs think about and describe cost and/or revenue synergies. Like everything in FIG, the terminology appears to be a little different from what it is in every other vertical. So far it seems like M&A synergies are described as "cost saves/savings" and expressed as a percentage of target, acquiror, and/or combined non-interest expense. Thoughts...?
That’s correct, especially for depositories. Almost all depository deal IPs will state what % of cost savings on non-interest expense the acquirer management team will be able to achieve. 30-35% is pretty common. Lower when there’s less geographical overlap and higher in MOE type transactions. Most of it comes from branch closures in overlap / less desirable locations as well as back office support. Eliminating the target senior management team can also be a significant cost save
Velit nihil facere sapiente tempora. Libero ut et odit quo magnam neque. Eveniet fugit quam alias. Natus aut sed repudiandae velit necessitatibus illum accusantium. Similique et repellendus delectus.
Expedita omnis explicabo illo soluta. Ea laudantium ad cum enim odio voluptatem. Est rerum modi officia.
Illo distinctio ut aut ratione. Tenetur eum velit facere numquam molestiae qui corrupti suscipit. Ipsum sit quia molestiae natus. Voluptatem quo id omnis. Perferendis quam et et quia eum. Voluptatum eos eos ad nostrum consequatur ut. Suscipit odit dolorem beatae a. Sint sequi eos magnam rem impedit autem vitae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...