Any insider know-how following their acquisition by Mizuho? Saw they just changed their logo, which honestly doesn't look good. Are they poised to simply become Mizuho from now on (ie the GHL brand will be removed)?
I'd appreciate some insights in this regard, as I really liked the team/people and the overall culture, including the exit opportunities, but not sure whether things have (or will) changed dramatically.
| +296 | Return Rates For Interns Are Falling? | 122 | 5h |
| +132 | Article: Why UBS's Asian M&A bankers are thriving and UBS's American M&A bankers are not | 14 | 6h |
| +115 | I am a drunk MD AMA | 39 | 1d |
| +79 | UBS Offer Day | 27 | 14h |
| +67 | Evercore > Goldman and I don’t think it’s particularly close anymore | 33 | 6m |
| +64 | VP Lifestyle at Top BB Coverage Groups | 40 | 2d |
| +57 | An Outsider’s View of RX Banking Out of College | 6 | 5d |
| +42 | I hate Wells Fargo | 10 | 6h |
| +41 | WF Return offers | 28 | 17h |
| +39 | Should I go back into a junior IBD role for comp? | 16 | 13h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Also interested
Following
bump
Can someone also explain how Mizuho is going to navigate through potential conflicts of interest with Greenhill RX?
same thought here
Talked to an analyst before the recruiting process. According to them, the team went through all prior rx mandates and there was no conflict with Mizuho. That being said, it’s hard to deny that the team will possibly struggle to get new mandates of the same quality
GHL Rx will be fine. Mizuho is not a big player in lev fin. Your Goldman /JPM / DB / BofA are often conflicted because they’re lead left / agents on a ton of syndicated term loans and HY bonds. Mizuho prob doesn’t crack the top 15 lev fin banks.
Mizuho doesn’t have an asset management arm a la CSAM or GSAM that would be in a cap stack either.
Delete
Heard from analyst they’ll remain as independent as possible. Don’t know how true that is though.
When was it?
Within the last month
Curious as well
Bump
Know the firm pretty well, Greenhill brand still stays completely independent where analyst from Greenhill will work with Greenhill MDs 95% of the time. The 5% might be when Mizuho brings in a deal for and there will be some cross over. With that said, analyst still don't do any financing or BB work besides traditional M&A. In terms of the experience, the culture and hours are still top of the notch for most analysts where you are not going to get grinded like other sweatshops (EVR/LAZ/MOE). However, this also means you have worse deal exposure. You are most likely not going to work on multi-cap billion dollars deal and mostly within the middle market size. Generally, the deals are going to be low profile and basic. You are still going to learn a lot as you are usually the only analyst staffed on the deals but wouldn't expect to have same experience as other top EBs.
The exits will still be top notch and it will be mostly comparable to firms like LAZ and MOE. The premise is if you are the same quality candidate at both firms, you can have the same probability of placing at a PE firm. GHL is not going to limit your chance of getting into a MF.
So why would you not take Greenhill? If you want super strong deal experience where you can work with public companies and do many interesting transactions. If you only want to go to PE, I'd say unless you are 100% dead set on MF, maybe take EVR/PJT over it but otherwise its still a marginal difference.
Source? Only concern whether there would be a brand dilution… they are pretty much sticking the Mizuho name everywhere, and it is definitely not great PR wise
Source is I work at the firm
How about possible brand dilution? I honestly prefer GHL over all other non GS/MS/JPM BBs, and some EBs, but I'm not sure to what extent will Mizuho dilute the GHL brand (which is still valuable/very well known)
I am not sure what specifics you are looking for. If you going into PE, the brand is the same. If you go into corporate development, its the same as other EBs where no one knows them.
bump
No offense, but MOE and GHL are doing similar kind / size of deals, with MOE doing higher reps / volume (hence the sweatshop stigma they rightfully got).
I'd say that the only EBs that truly focus on large cap multi-billion dollar M&As are CVP and EVR. You could argue that GHL was in a similar position like 7-10 years ago (ie, focus mostly on large cap deals), but since then they also shifted their focus to mid cap deals, similar to MOE (and LAZ to an extent).
PWP?
CVP yeah but EVR has a well diversified business that also reaches into the MM. EVR is basically a bulge bracket investment bank..
I agree but it also depends on what group you are in. The M&A team advises on large cap transactions like WWE/UFC as instance. I know they were also on Cleveland Cliffs back when pursuing targets. Its still depend on what group you are in but MOE definitely sees more large cap than GHL. Obviously not as much as CVP and maybe a bit less than EVR
What's the vibe like among the junior folks following the Mizuho deal? Also, wouldn't you expect GHL to do more large cap deals, given the access to Mizuho's financing platform? I would have guessed that it would be a major value proposition of this deal
Mostly analysts are optimistic given there was a big probability that GHL was going under. Your point makes sense but in reality I think most clients would rather go to a BB unless its some extended Mizuho clients. Tbh we will have to wait to see how it plays out
I would agree with most of this.
But disagree that Greenhill is the same level as a Lazard or Moelis. Perhaps in the past but often it's prestige is based on its history rather than current deal quality.
They also lost their Telco guys to Guggenheim I believe. Which was a blow as these guys did deals.
Besides the deal quality, which obviously is behind in the last couple of years compared with other EBs, how would you say the firm stands up against others in terms of experience, exits, comp, etc?
Impedit ea veritatis earum. Enim maxime quod vero numquam consequatur voluptates non cupiditate. Et ut et autem in. Expedita mollitia nemo aperiam quos doloribus. Est sed sed ad id.
Enim pariatur qui qui impedit. In fugit suscipit explicabo explicabo. Et perspiciatis deserunt animi nulla repellat natus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Aliquam amet dolorem repudiandae illum aut. Aut similique nihil sequi corporis et eum quaerat velit. Facilis ea voluptatibus fugit atque autem cupiditate voluptatem. Qui atque harum esse quas. Vero occaecati et consequatur consequatur.
Repellendus vel molestiae magnam dolores quis. Quam velit sint sint. Ipsa eos fuga quas. Omnis vitae molestias eum neque. Repellendus dolorem ea dolores voluptatum magnam. Libero molestiae non dolore distinctio libero. Eos est iure eos.
Sint unde ad sint. Nisi error consequatur aut debitis dolorem incidunt. Reiciendis eveniet fuga enim assumenda. Quibusdam quaerat magni et excepturi quis dolores. Incidunt dolorum error sed.