Would love to hear from any of you WSO veterans about your thoughts on M&A groups at Lazad. Does any group have a particularly good reputation/deal flow/culture. Do any groups have a particularly rough culture. Would love to hear your thoughts. I have searched the forum and have found very limited information regarding particular groups.Any information you could share would be greatly appreciated. Thanks!
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Industrials and FIG are kind of brutal in terms of hours. Richard Shaw is an MD on industrials in London, and he just doesn't understand the concept of sleep or personal time. They just chose to pool analysts this year, though, so you're not going to be assigned to a specific industry right off the bat. Instead, you're going to be a generalist, and staffed on projects by a specific director.
TMT is pretty cool--maybe the best team. They had some deadweight in middle management, but they recently cut a few people, so they are gone. The real estate team is pretty laid back too, and is run by William Rucker in London. They've had several deals over the last year, and they staff people well (they don't really do trading comps, which is fantastic). Natural Resources is a new amalgem of the old Oil & Gas (which became Power & Energy) and Chemical teams, so they do a lot of seemingly random work.
I don't think much of Capital Markets there, and restructuring is, well, restructuring, so if you want to get into that, go for it.
isn't capital markets in a separate entity?
I don't know about NYC, but in London they used to sit back-to-back with the restructuring team and on the same floor as the FIG guys. And they used the same recruitment programme and superday as the rest of the bank.
Thanks Brotherbear. Anymore thoughts, particularly NYC?
I don't know too much about the New York office. As a whole, the firm is pretty solid across the board. You (clearly) want to work on a team that has good deal flow. A team like Industrials works quite hard in London, but the analysts don't really do any more work than the seniors, and there is something respectable about 'leading by example.' Also, if this is for a summer analyst position, you don't just want to sit around all summer, so working on a team like FIG or Industrials can be excellent exposure.
Like I said, though, you're going to be in a pool, and are going to be staffed from on-high. If you're lucky enough to choose a team to work with, choose the sector in which you're most interested, not by the one some guy on a forum said was good or bad.
FIG advised on Bear Stearns/JPM, AIG bailout...pretty solid.
Stay away from Restructuring. Half of the problem is the restructuring business itself: it is literally the IB equivalent of digging through the trash. Don't get me wrong, you find fees in the trash bucket of restructuring, but problem is that the guys in that field have a general bad odor. Guys from lower tier schools. Guys who just don't look, or act, like top tier bankers. Lazard has to be the best of the junk haulers in restructuring, but one look at their group head says it all - Barry Ridings is, in short, a man of few virtues (certainly not the intellectual kind). He graduated from the bottom of the business school barrel, Cornell's Johnson School (even today it's crap, after decades of efforts by Cornell to upgrade it - can you imagine where the admissions bar was like in the 1970s for that school, when he graduated? Barry Ridings does everything he can, and I mean everything, to push that school into the realm of respectability. Keep pushing, buddy). Ridings sits in a sad, dirty, messy office - 30 minutes of conversation with this guy and he reveals himself to be a petty, always-mad-at-the-prep-school-crowd type of guy. It's amazing to me that someone like that can be so ridiculously pathetic and obvious. Guess these guys are garbagemen and they know it too. Don't be fooled by the current market, when restructuring is "hot" - it hasn't been hot for the last 5 decades.
Hahaha you got it man....
Damn !
Sounds like a prep-school guy (probably sitting at Citi right now or something) that went to H/Y/P and is mad that someone from Cornell (Oh no! Not Cornell!) is Vice Chairman at Lazard.
Some people really like restruucturing. Usually ex accountants or audotors.
Put down the keyboard and go get help, dude.
Well said ! ! !
Bump for an old thread, would love some new information. Thanks in advance.
Bump for an old thread, would love some new information. Thanks in advance.
HC is rough from what I have gathered.
LAZ Groups (Originally Posted: 10/26/2009)
Tried searching but didn't find a definitive answer. As I understand SA's are hired into a generalist pool then assigned into product groups.
Do these groups do only M&A or restructuring, or both? Does anyone have insight into Lazard's metals and mining group?
Group selections/placements occur during training through a sort of informal "courting" process.
I see. So do groups do M&A and restructuring like GHL or just one?
They are not like ghl or evercore. You are placed into an industry group at Lazard (I believe) after training. I don't think that there is an M&A group, but there might be a generalist restructuring group...can anyone add to that?
there is no m&a group. you can be in an industry group or the generalist restructuring group. however, right now the most industry groups are also doing a lot of restructuring in addition to m&a.
ahh, ok. So it's industry group vs. generalist restructuring group.
But given that restructuring is hot, industry groups are also doing restructuring. So is it wrong in an interview or conversation to say that industry groups do M&A and restructuring? Or is that the case only in this climate?
bump
I think it's wrong to call them industry groups. Lazard has M&A and restructuring. M&A is broken down by industry group. This is not like an industry coverage group at a bulge bracket.
LAZ NY Groups (Originally Posted: 02/18/2013)
I was wondering if anyone could provide a breakdown of the groups at Lazard in terms of culture, work experience, deal flow, exit opps, etc.
I am interested in RX (and I understand it provides a different skill set/exits than traditional M&A), but I want to get good M&A exposure over the summer as well. The SA program is generalist although you rank groups you are most interested in and usually get staffed based on level of work in the group, preferences, etc.
Wtf is a lazard? some type of lizard? did you not get a BX offer? idiot...
This is hearsay from my friend. general banking - very european tmt - chill guys, good dealflow healthcare - chill, good dealflow restructuring - a shitload of hours but good guys energy - a shitload of pitching
This is accurate. Adding:
FIG: Noooooooope.
RX and TMT are great in NYC
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