Incoming SA at one of the sf tech groups; was curious which tech group(s) are on the rise in the next few years, and, conversely, the ones that are losing talents and deal flow
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Ms Menlo declining — talent leaving for MS NY
UBS - they hired like 8 Barclays MDs in TMT within the last month. They hired multiple others in the months before it. It's not gonna magically become a great TMT group, but there's no way it stays as bad it is currently with all the new hires (think the total is way more than a dozen MD hires including some hires that were notable rainmakers at other firms). Not all are SF, but maybe like 50% are SF hires which is a lot of new MDs for an SF tech office still.
1+ years post all the Barclays hires tech team has yet to show for much, have not seen any big deals. Most are young MDs with less than 5 years of experience, and are not hungry sitting on guarantees
eh, senior hire ≠ meaningful growth. it's not that great but i suspect some ubs sf kids will ms.
UBS Tech team?
Like 99% sure the new hires started more recently than a year ago as UBS announced a few weeks ago the start of 8 new MDs and that many others will start soon. Also, know people in that group and the team have been taking some leads from other banks and winning new LBO leads. I agree that the M&A business isn't being won, but they are doing just fine in sponsor-based LevFin / single B leads (though to be fair, the bank is doing well there).
Saw Rothschild on a few big tech mandates recently
Del
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