Healthcare IB in San Francisco

Friend is looking at SA positions in San Francisco. Wants to work in Healthcare

Anybody have a sense for the best groups? I know of the following but have no idea how they compare. Did a search but didn't come back with much. Any help would be great.

JPM
CS
CV
DB
LAZ
Citi

15 Comments
 

Curious about this as well. Here's what I know - the CS team is pretty compact (~8 people total) and their analysts have placed into some very solid funds. Not sure how they compare to the others though.

 
Best Response

Don't like to rank but here we go. Based on what I've been hearing about deal flow, reputation, overall brand name:

  1. CV - kills it in the Healthcare space, literally been on almost every large biotech/pharma deal.
  2. LAZ/JPM - maybe Lazard slightly better but its quite neck and neck
  3. CS/Barc
  4. Citi
  5. DB

It gets quite diluted if you're not in the top three shops. Another one with great HC dealflow is GS, but everyone knows that and they don't have an actual industry group. PM me for more details

 

Healthcare at GS SF is run out of West Region Advisory - If you're not 100% about Healthcare, it is a top group to go to because you work across a couple of other interesting verticals like Cleantech and have placed better than SF TMT recently. And again, GS is a powerhouse in pretty much all aspects of Healthcare.

Another forgotten group is MS Menlo Park HC (Not Tech), heard its pretty small, and a lot of the work are all capital markets related. So if you want M&A, look elsewhere. Definitely gets overshadowed by the Tech group, but the brand name is still there.

JPM SF HC is supposedly a little more focused on capital markets. Something like up to 30% of total work is M&A. They have a dedicated M&A team out at SF which handles the modeling I think.

Not entirely sure about BAML, but it hasn't been as good as historically after a team left a couple years back(see below).

In regards to Centerview, its only a couple years old but some the biggest deals in the HC space are ran out of this office. They poached the BAML West Coast HC team a couple years back. Centerview has traditionally done a lot of HC stuff out of NYC, but as SF grows I expect to see more work being run out here. In terms of pay its definitely top, but track record and placement are more unsure (similar to CV NY). They also cover a little bit of Tech out of SF. I can't think of a better place to be at if you want interesting deals, focus on M&A, and have an interest in HC/Life Sciences.

 

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