Bunch of seniors / partners from Goldman Sachs TMT seemed to have joined Evercore Tech in the past few months. Also the Vice Chairman of IB from Morgan Stanley left to join EVR.
Anyone in GS TMT care to shed light on what, if anything, may be going on with the team in NY? Have heard the seniors are discontent with the leadership.
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There's no mystery lol, everyone's jumping ship because of the absolute disaster that D-Sol has been for GS
Ngl working at a bugle bracket is shit
Ngl working at a bugle bracket is shit
Ngl working at a bugle bracket is shit
Ngl working at a bugle bracket is shit
Ngl working at a bugle bracket is shit
Can you repeat that? Missed it the first time
🎺
What, you're trying to tell me bankers don't love BJ D-Sol?
this dork really had 5 chances to spell "bulge bracket" correctly and fucked up every single one
He’s talking about bugle brackets—y’know in preparation for the NCAA brass horn tournament.
Clearly works for everyone's favorite headhunter Pinpoint Partners. Received multiple "bugle bracket role" emails from them despite many blocked addresses...
EVR Tech gives partners a larger slice of the pie and is the best positioned boutique in tech besides Q—already a leader in the sponsor and auto tech space and the GS partners will increase exposure to large cap semis and software. Global Co Head of Citi tech also joined recently.
Which Partners moved over?
Chris Buddin - Autotech
Tammy Kiely - Semis
Michael Tarulli - Aerospace
Oh no, like Analyst 1 said, GS is an absolute disaster
How hasn't DJ Sol been fired yet? given that TMT is one of GS's biggest groups, surely the board of directors have to do something now to sack him.
Surely at this point a new CEO appointment would have to be external (new for GS) since all the internal candidates e.g. Waldron and co. are complete rubbish and are DJ-Sol MK-II,.
As long as the share price tracks the S&P and the dividend keeps rising Solomon keeps his job.
The stock has underperformed opposite to the S&P 500 (in a lot of cases) over the last YTD and it's fallen (1.12) behind MS (1.68) and JPM (1.60) on price-to-book ratio.
Even 16% of shareholders voted to want an independent chairman via a tabled motion and that figure is projected to rise since its vote in March due to the partner exodus.
This is going to be entertaining to watch as time goes on.
Fwiw Tammy and Pomponi haven’t really brought in any meaningful deals in the last few years. Throw monkey shit all you want but the deal origination at GS, especially in TMT (maybe with the exception of Telecom), isn’t indexed on partner relationships as much as other banks, unless we’re talking about rainmakers such as Kim P and and Lemkau. The c-suite situation is definitely a shitshow but TMT will hold its weight in the foreseeable future
Very surprised to hear this. I know 2022-3 has been a bad year, but have only heard fantastic reviews of Tammy in semis/industrial space. Are you saying they didn’t bring in deals because they’re bad bankers? Or is it more cyclical/structural and market related?
I’d say it’s mostly market related, and have only heard great things about Tammy. Semi hasn’t been a big focus for the group and most of the resources were devoted into software, internet, telecom and media
Partners leave all the time, although the number seems slightly higher under DJ Sal's regime. That said, GS never lost its spot in league table for a single year.
Hey man, as long as people want to go to goldman they'll be fine
Saw another MD in industrials (head of A&D) from goldman going to evercore..
Kudos to evercore. can they even be considered a boutique since they are so institutionalized now?
They havent liked being called a boutique for a while
Curious if anyone knows whether the new additions will be for their NY tech team or their Menlo office
Mostly Menlo
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