Gleacher Shacklock in London - MM or EB?
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Pick them last p sure they're conversion rate is terrible
I would just say boutique probably
Also heard the conversion rate is balls but apparently they have a chef.
What is the tracker you are using?
Never heard of these guys tbh
Have a friend that works there.
Correct that conversion is low - they do two sets of 6 weeks for interns so they take a lot of interns relative to their size, but note that GS, MS, JPM also had around 40% conversion rates this year.
Correct that they have a chef! Culture wise - they are quite old school.
Exits appear to be strong for what it is, partners are well-connected.
I believe their bonus is paid in two instalments and has a clawback if you leave? Maybe someone can confirm.
Deal-flow is strong particularly in defense and regulated utilities.
Labels are stupid anyway but I wouldn't call them an EB - they are a regional boutique. I'd say similar strength to Arma Partners, but better than places like Alantra, Torch Partners, Santander, etc. I would definitely put Houlihan Lokey above them, but not sure about Raymond James.
Were the top BB conversion rates actually that low?
For GS, MS, and JPM, yes. BofA was high (90%) but they take much less interns and are more selective earlier on. I believe Citi was somewhere in between the two.
This is such a bad answer it is actually concerning - the comparison part at least. Torch is miles ahead of Arma and to put Alantra in the same bracket as any bank paying over 50k to first years is just ridiculous lol so idk how it’s in the same breath as Torch and Santander - both of which are better than the Arma and gleacher. Yeah houlihan is better than all that of course is different
I'm interested to know why you would put Torch as "miles ahead" of Arma? Arma is the leading bank for software M&A across Europe, and pays much more than Torch to its analysts.
I do not work at Arma or Torch but I do work in TMT at a BB and this is a generally accepted view. You can take a look at how many deals Arma has closed this year vs Torch.
Not saying Torch is a bad place.
Torch has fallen a lot during the past >1 year.
Do you know much about Peel Hunt? Comp? Reputation of their coverage/product teams? Exits?
Cheers
Below market comp across the board.
Okish rep in corporate broking/capital markets advisory but nothing really in terms of genuine FA work and consistently finds itself in "broker only" roles when a client gets taken private (and not actually particularly strong on the IPO front, only did three IPOs in the last wave vs Numis on 12, Berenberg on 9 etc).
Exits at junior level to better brand name banks (lots of analysts go to Laz/Roths/bulge when hiring markets are better, never PE), seniors go to other mid-market banks that pay better.
Conversion rate was 50% this year, and only 1 set of 6 interns for 10 weeks. Would say Gleacher is MM regional boutique. Also had a friend intern at Torch, says Gleacher > Torch
He presumably did not get the torch return offer lol
Assuming you did?
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