From my understanding it's the least prestigious coverage group, earns the smallest fees, doesn't do much M&A and generally the easiest group to get an offer for because most people don't want to get pigeon-holed in RE. Have heard a lot of non-targets end up in REGAL. With all of this being said, is REGAL even considered front office these days?
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Still front office, it's just more niche. What this functionally means is RE groups get both those most interested in RE and those who didn't get any other coverage group. REPE is still a very lucrative career, but since not everyone wants to be in it post 2 years a lot of summer analysts don't go for the group and thus it's lack desirability usually. So, among the traditional coverage groups at BB's, a lot of the non-targets end up at RE during placement.
Nice one
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