IB scene in Dallas/Austin
Did an internship at a BB in Houston and loathed the culture.How's the IB scene in Dallas/Austin?
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Some banks have nice cultures actually while others are just god awful - it’s more about the shop and your VP / Associate than it is the location.
Do you happen to know what are some good spots in those respective cities?
I don’t not really to be honest - but I think it’s mostly in Dallas and Houston. I talked to the Evercore people in Houston once they all seemed very nice but who knows anyone can hold it together for 30-45 minutes lol.
Why was Houston bad?
Sweaty, toxic culture from analysts up to MDs.
In general Houston is like this unfortunately.
Dallas has a decent bit, mostly O&G but some others (ie GS has some real estate ib out of there)
what O&G IB is in Dallas? They are all in Houston. Dallas does have some O&G PE
I can chime in for Dallas, living there for many years (there are also multiple threads on this so I would do a search).
Dallas doesn't really have a I-banking scene (more PE/Hedge Fund town), none of the large bulge brackets really have a presence in Dallas. The banks with the biggest presence will be your MM firms like Houlihan Lokey and Stephens (I think Lincoln might have one out there now as well).
How are exits at these banks?
Mind if I DM you?
Other than GS are there any other BBs with presence in Dallas?
JPM has a consumer IB team in Dallas I think, but otherwise not really
Not a BB but RBC has a real estate team in Dallas
GS only has real estate though right?
HL has a group but if you left Houston for culture I don't think you will like that one much better...
JPM has a very small C&R IB team in Dallas, think it's like 1 analyst per year. I don't work there but imagine that's a bit of a challenging dynamic when everyone else is in NYC. Stephens has some.
Also, Cowen has a presence - they bought MHT Partners fairly recently, and of course Cowen themselves were then bought by TD... but interesting generalist group, not sure how all of their buyouts are changing the team. This would be my choice above the others though
How's the TD acquisition going to play out for them?
Sounds like on a larger scale, TD is leaving everything in place from Cowen. For that group specifically I believe MHT was pretty successful so I'd be very surprised if anything major changed there with TD coming in
HL HC is very strong, but sweaty.
Legacy MHT Partners team is medicore and placed in a weird spot at Cowen. Once the TD acquisition goes through, I'd expect some turnover. Things don't usually work well in these scenarios, unless TD is providing significant deferred comp.
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