I was listening to a WSO webinar not long ago about how several BBs moved their NY teams to San Fran to be closer to where the action happens. If you had to choose a bank specifically for their TMT division in San Fran, which one would it be and why?
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GS and CS have been historically strong in SF.
GS and MS basically dominate west coast scene for tech banking and exit opps as well.
Not much media or telecom
after gs/q/ms which are the biggest players, prob jpm is next. they are leading weworks ipo. CS hasn't been great lately
yeah definitely didn't hear great things about CS for the past few years, I know last year all their MDs left and their analysts were all quitting within a year (class of 2017)
GS TMT, MS Menlo tech, Qatalyst JPM/Laz tech EVR/Moelis CS/BAML/Barc tech Jefferies
Db?
Listened to an alumni talk about Jefferies' operations in SF -- very impressed with their deal flow and culture. Looking at their recent transactions, they played a big role in restructuring iHeartMedia for $16.2 B, and ran joint for the Lyft IPO.
Won’t agree with this list. Jefferies tech has been very active
Surprised Gugg TMT isnt on here
Where does UBS fall? Have some friends that say they've been doing well recently.
The top BB tech shops are GS TMT SF and MS M&A Menlo. After that there is quite a gap in overall experience/deal-flow/exit opps from what I have seen (JMP and CS are probably next).
I think you meant JPM not JMP
Yes, JPM. My bad
I'm surprised EVR/LAZ/MoCo aren't higher up on this list - seems like the analyst experience atleast is stronger here than many of the BBs, especially for the former two.
Something prospective monkeys have to realize is that many BB Coverage groups do zero modelling (looking at you JPM SF), so the PE exits are almost non-existent.
Going out on a limb here, but I'm pretty sure WB SF places kids more consistently into middle-market PE than some lower BB coverage groups.
Interesting. What about the UBS SF TMT group? Have a connection there so I want to see how good they are.
I'm not sure about UBS tbh - I'm based on the east coast and most of this info is from my friends who recruited/my paltry attempts at recruiting SF.
You make a very good point. To add on, some of these EBs like EVR and MOE in particular have been growing very rapidly and eating into the senior banker talent pool at some of the BBs. Just look at the exodus from Citi to EVR at the senior level. Also, nearly all senior CS tech guys jumped for JEF SF a few years ago.
LAZ sorta has its own thing going on and doesn’t really have a traditional banking experience.
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