hi folks...according to the news that i ve read over the past few weeks, citi and deutsche are the only ones that have announced job cuts in corporate finance m&a...
citi havent given a number but deutsche have put the figure at 70.. wat do ppl think? have u heard from ne other banks? and is it likely to get worse in m&a
| +184 | Analyst: Why is UBS IB doing worse than peers?, UBS CFO: No Comment | 34 | 2h |
| +167 | Leaked Interview Questions to Recruiting Services | 65 | 2h |
| +153 | UBS’s M&A BANKERS ARE DOING TERRIBLY. $200M EXTRA IS BEING CUT | 31 | 2d |
| +67 | How do YOU manage networking requests? | 20 | 1d |
| +61 | Are target prospects getting dumber? | 27 | 2d |
| +35 | MBB Pay Raises | 27 | 3h |
| +27 | Career Crossroads | 5 | 8h |
| +26 | Another $115bn Mega deal for these banks. Congrats! | 16 | 29m |
| +23 | US 2027 SA IB worried about background check | 8 | 13h |
| +23 | Investment Banking is Divine | 5 | 9h |
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.
i think banks have been reluctant to cut M&A so far because they held out hope that strategic acquisitions would replace LBOs. that's not going to happen with a weakening economy. so yes, i think you'll see cuts in M&A over the coming months. first they'll try to reassign people to industry groups and then they'll start laying off.
so basically, we should all join the industry groups for a while?
so basically, we should all join the industry groups for a while?
i'm reluctant to give specific advice because each firm is different. however, generally speaking, industry groups are safer than M&A groups during a downturn.
That one of the BBs fired a good portion of one of their industry M&A teams.. not sure if it's true or not, but M&A activity even among strategics has slowed tremendously and there will be cuts going forward. We are in a recession now even if "officially" GDP growth has not yet been negative for 2 quarters.
Interesting post ibd_london. Do you have links to the source for your Deutsche cuts and can you recall which regions the cuts are going to hit hardest?
Someone correct me if I'm wrong but I think Deutsche's European M&A franchise has a much stronger presence in strategic vs. financial M&A than their US franchise (example, they are a sell side co-advisor on the $15bn Carlsberg Heineken/S&N merger in the UK). Deutsche's US M&A activity seems relatively dependent on leveraged finance commitments. Case in point, layoffs in Deutsche M&A may not signal a threat to M&A bankers at firms with more of a strategic focus.
Enim sequi magni aut provident. Dolor nihil praesentium voluptate et autem ex.
Qui consequatur non culpa occaecati. Quasi sapiente et molestiae qui dicta quaerat ipsa. Dolore distinctio dignissimos consequatur atque cum. Non laboriosam tempora qui et quae eveniet est.
Delectus consequatur aliquid qui repudiandae. Culpa atque nostrum officia laudantium harum. Voluptatem esse beatae sunt iusto.
Quasi quo nulla ad officiis fugit voluptatem laborum. Labore rerum quam voluptate nobis cumque. Tempora aut sit quo dolore veritatis nostrum. Eos nisi laudantium libero cumque velit. Officia minus et esse mollitia et.
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...