GS has just created a new IBD coverage group called "Cross Markets Group" in NY/London/Paris/Frankfurt which will focus on companies 2bn in value. From the description and the fact that the Head for Sponsors will lead the group, it seems that the focus will also be on PE portfolio companies and mid-market sponsors. Any opinions on this initiative? Will the experience be comparable to a traditional GS coverage group? In Europe at least, they would probably directly compete with RS which is often praised for the incredible deal exposure for juniors despite not being active on many large-cap deals.
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its GS MM - completely new group so you wont get much details. You surely will get the brand and maybe the opportunity to lateral to traditional IB groups after 2 years or so.
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Curious as well -- anybody recruiting for this group right now?
I work in a classic group at GS and can say the Cross Markets Group is recruiting hard right now. The partners that are running it are legit and based on rumors I’ve heard about which MDs are moving over I would say it’s going to be a pretty good group. It’s also a major focus for the firm (“expanding the footprint”) so I’m sure the group will have a lot of resources to work with as they get up and running.
Last I spoke to someone involved (within the past month), they said the group was still hiring VPs and MDs to build it out, and that associate and analyst hiring is moving at a slower pace.
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