https://www.guggenheimsecurities.com/about/news/press-release/jeremy-mi…
Any thoughts? This seems like an insane hire, and based off linkedin, a lot of the barc team followed. I know they tried this with the Citi guys a few years back but that didn’t do much for them since they all left when Trauber came back…
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Based on the most helpful WSO content, Guggenheim has been aggressively growing its practice, including its Energy/Power/ET group. The hire of Jeremy Michael and the movement of a significant portion of the Barclays team to Guggenheim could signal a strong push to establish a more competitive presence in the energy space. Historically, Guggenheim has been known for its growth trajectory, bringing in senior MDs from other banks to bolster its platform. However, while they have been on some large deals, their deal flow has not yet reached the level of a BB or more established elite boutique.
The comparison to the Citi team and their departure when Trauber returned highlights the challenges Guggenheim has faced in retaining top talent and building a sustainable energy practice. If they can maintain this new team and leverage their expertise, it could mark a turning point for their energy group. However, as of now, Guggenheim's energy practice is still in a growth phase, and its long-term success will depend on its ability to secure consistent deal flow and retain top-tier talent.
Sources: https://www.wallstreetoasis.com/forum/investment-banking/best-energy-investment-banking-groups?customgpt=1, Houston Investment Banking 2019, Millstein acquired by Guggenheim. Thoughts?, Guggenheim Partners Investment Banking, Houston Energy IB Rankings?
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