Gleacher Shacklock? Good enough?

Read a lot about other investment banking firms in the UK. Wanted to understand how Gleacher Shaclock fits in the space? In which category would you put it? Is it below DC Advisory, Greenhill etc? How is the deal flow and exit opps?

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To be honest, very hard to categorise them. They're a boutique with only one office. A lot of the Partners/Senior Execs there have insanely impressive backgrounds, virtually all Oxbridge --> Goldman Sachs/Lehman/JPM etc. Understand they have a decent RX presence. Their website includes a list of huge transactions, although I doubt they were the exclusive lead financial advisor in most of them. Seen exits into other EBs and some Infra funds. Culture there seems a very Old School British Banking vibe.

 
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I've seen pretty good exits on LinkedIn, but I have heard also they don't have a great culture; I have a friend who had a very unpleasant interview.

Agree with the above, a small shop with what I believe is an old-school banking vibe with (very) well-educated seniors who have very well-established industry connections - don't see them as an exclusive advisor but they clearly have some expertise as they're on some pretty massive deals.

Definitely above DC Advisory, yes. 

 

Done through Freshminds (Also do Greenhill in London).  Application is 3 questions (short-answer ie 200 words) on how to find information for an acquisition target. Then second round interview and progress to AC. AC is group case study, slightly technical interview and cultural fit. At the AC, they don't see or have your CV as they interview you to make it a 'blind' process. 20 people are invited to the AC, Gleacher usually pick 4 girls and 4 boys.

 

Just to add on, the technical interview is different for every candidate and seemed like it was catered to each person's background (i.e. finance v non-finance ug study). In terms of you being in 3rd year of your course, I remember meeting people in their final year at the AC for Gleacher. But not sure if they recruit straight into FT, but definitely offer Off-cycles and Summers.

 

I interned there a long time ago so take it with a pinch of salt. 
I broadly agree with the comments above:

  1. Very Old School British - Was told multiple times before starting by the recruiting agency to absolutely not wear brown shoes. Got the story while I was an intern that a past intern was wearing these one day and was laughed at and went home to change
  2. Their deals are very UK-focused, so highly dependent on the UK economy.
  3. Serious culture: people always eat at their desk and rarely hung out after work
  4. Pay was really good as an intern, heard it was still very good as a full time employee
  5. Hours didn't seem too bad
  6. People I was with at the time ended up in middle market PE firms
  7. While I was there, there were not many live deals, most people were working on pitches. My understanding was they they rely on a few significant deals and in some years, it pays very well as their team is not very big. This tends to be confirmed by 
    1. The fact I rarely see them on deals despite now working in one of their specialties
    2. Checking their website I still see tombstones at the front which are from a very long time ago.
 

Agreed, very old-school British public school. Huge affinity for Oxbridge. And yes, the no brown into town thing is very very believable. Spot on with UK-focus, they did do some work on Thames Water (or another similar water company that was facing bankruptcy if I remember correctly). Given how established their partners are, I'd hazard a guess a lot of their deals are from legacy relationships.

 

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