Is Greenhill really that bad? (M&A)
I know that GHL is not the place it used to be, but I have seen people on this forum say that culture is bad, deal flow is poor, and it is not really an EB. Have also read that comped meal policy is bad too.
Obviously, WSO is not always the best info, but this seems to be a consensus.
Does anyone have any insight into the quality of the analyst program? Do analysts just spend all their time pitching? I've read on here that exits are still decent. Does anyone happen to know anything other than what has already been posted?
Bump
Have friends at GHL and interviewed there-
The place is definitely a shell of what it used to be- look at league tables, their stock, anything can confirm that. In my experiences, junior culture is solid and people are generally nice/normal, but senior culture not great. No different than any other struggling bank, but you’re going to have more pitching + angrier seniors who are feeling the heat.
That being said, think exit opps haven’t fully caught up to the banks reputation, meaning GHL kids are getting similar looks to other EBs just off of the strength of the brand. No idea how long this will continue to last, but there’s a case to be made that analyst seats at GHL are probably still a good launching pad. Would absolutely not want to be an associate+ here though
Thanks for the input. Can you expand on exits?
Would imagine this is more NYC focused... how do the regional offices (SF/CHI) stack up?
According to LinkedIn, there is an Analyst at the SF office who graduated from McGill.. I think that sums it all up
I didn't go to Mcgill but they have alum everywhere so you're either misinformed to the point of hilarity or a girl from Mcgill broke your little heart and you're salty
I honestly don’t know why anyone would pick Greenhill over an EB or most BBs. It’s just not what it used to be and other banks are better in every way.
Friend picked Ghl RX over Citi/CS
I would put GHL Rx in a different category entirely than the rest of the firm.
Makes sense if you’re interested in restructuring, even though he got the shittiest of the relevant restructuring banks
I had a friend with a horrible analyst experience there. Rumors about Neil Augustine all true (writing comments at all hours of the night)... to think of the lack of self-respect those mid-level bankers have there to put up with that. Culture is next-level bad gtfo while you can
How is it compared to Rothschild in North America
Roth’s NA is def on the strong come up (look at league tables). tho this wasn’t the case a while back. Seems like they and GHL almost switched places in terms of deal flow, reputation, etc.
At Roth’s you probs won’t be pitching often they do an insane amount of deals with average size being around 600mm-1 bil (similar to Moe/LAZ). Exits are strong from their top groups (Rx, Industrials, Consumers). Deciding between GHL or Roth’s in terms of experience and better senior folks I’d go Roth’s.
All the GHL analysts/associates MS’ing are clearly delusional LMAO
How is their SF office?
Chicago is seemingly a good spot for analysts. MD count has doubled over last few years and culture appears strong. Exits to Silver Lake, Thoma Bravo, Golden Gate, Madison Dearborn in recent years. Analyst class size of 3-4.
Any insight into GHL reputation outside of the U.S.? Toronto, London, Hong Kong?
Greenhill Toronto is a great shop, I worked in Toronto (not for GHL but for another shop) and those guys generate a lot of fees per head. Certainly hasn't declined like the US franchise. You can actually go to their website and see closed deals by region to give you an idea.
Cap
sure, if doing middle market cannabis deals makes you a great shop...
Any additional insight on GHL TO? Culture, comp, etc. Looking at potentially lateralling. Can PM if preferred.
This question (and most of these types of questions) depend on your profile and whether or not you have options elsewhere.
If you’re a nontarget and have no other offers outstanding, absolutely sign with no regrets.
If you have an offer from a BB, EB, or EBish (Gugg, Q, Liontree, Allen & Co, Ducera, etc.) probably worth taking those instead, but it still varies person-to-person.
Ducera as well
The firm is just bleeding talent every level. They've had double-digit associate/vp departures this year and several key departures at the MD level. Firm struggles to even pay its rent
how do you know they are struggling with rent lol
Does anyone think Greenhill might get acquired or is the firm doing well enough to hold on its own. Was wondering because many of the once successful firms in the 1980s were all bought up to this point.
Would be curious to see if that Happens to moelis Greenhill Centerview later in like the 2030s
Greenhill’s not even appealing enough to be acquired at this point. If firms wanted Greenhill’s top talent, they can just buy them out and offer comp packages (Look at Greenhill’s stock the past few years).
A lot of boutiques start struggling after their founders leave, die, or step down (Gleacher, Greenhill, Wasserstein Perella although they were acquired), and it’s usually pretty hard for boutiques to maintain the longevity of BBs as boutiques are far more built on individual bankers than a brand and a large product offering like BBs. I think it’ll be a test for the “new” gen of EBs like Moelis, CVP, PWP, PJT, etc to see if they can maintain their brand and momentum after their founders step down. Although, to be fair, Evercore has been a notable example of an EB that has succeeded in passing the torch.
So yo think when Blair Effeon or Moelis retire those companies could eventually bought?
Over half of the current M&A class going to UMM/MF
And Rx going to UMM/MF special sits-type groups
Can you elaborate please?
Over half of the second-year analyst class is exiting to 5bn+ funds
Dealflow and comp wise, a shell of their former self. Exits wise, still incredibly strong - much stronger than pretty much any MM.
Do you happen to know what bonuses are at the analyst level?
Also curious on their comp range for AN and AS
Ya is bonus similar to other boutiques? Base also 110 now
GHL crushed associate recruiting at my M7. Got more people than Laz, EVR, and Moelis this year (these people didn't directly turn these other banks down but I still think its an interesting thing to think about). I think at the analyst/associate level its a solid choice to start your career in IB, but the firm definitely is not what it used to be as others have said.
none of the SAs at GHL CHI are returning if that says anything
Doesn’t say too much. I know top groups where less than half the interns don’t come back. Usually some go to PE, switch to slightly better groups, or switch locations (like NYC is in a non-NYC group)
do u have any idea why? incoming 2022 sa
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