Keen to hear any thoughts on the team, in particular
But anything would be helpful - thanks!
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Based on the most helpful WSO content, here's what you need to know:
Division of Workstreams with Other Coverage Groups: In general, M&A teams at top-tier banks like Goldman Sachs often collaborate with coverage groups. Coverage teams typically focus on client relationships, industry expertise, and pitching, while the M&A team leads the execution of transactions. This includes building financial models, structuring deals, and managing the overall process. The exact division of responsibilities can vary depending on the deal and the specific dynamics of the teams involved.
Who Holds the Pen on Models?: The M&A team usually "holds the pen" on financial models. This means they are primarily responsible for creating and managing the models, such as DCF, LBO, and accretion/dilution analyses. Coverage teams may provide input or context based on their industry knowledge, but the technical modeling work is typically the domain of the M&A team.
Broking Work: Broking work is not a primary focus for M&A teams at Goldman Sachs. Broking is more commonly associated with ECM (Equity Capital Markets) or DCM (Debt Capital Markets) teams. The M&A team is more execution-focused, handling mergers, acquisitions, divestitures, and other strategic transactions.
If you're looking for more insights or specific anecdotes, exploring WSO threads on Goldman Sachs M&A could provide additional perspectives from professionals who have worked in or with the team.
Sources: Please Help Me Understand Corp. Finance / M&A at the Big 4, How are JPM PE exits, ABCs of M&A/Coverage, Nature of Divestiture/JV Deals, Lev Fin Outlook & Best Groups 2020, Q&A: Corporate Banking Associate
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