Layoffs in Houston Banks
Given last year, I was wondering if there were any rounds of layoffs for bankers in Houston? Aside from some firms lowering intern returns, were there any significant cuts for investment bankers?
Trending Content - Investment Banking Forum
| +370 | Evercore Intern Seizure | 54 | 14h |
| +71 | JPM M&A is Gone??? Purely Coverage Banking??? | 31 | 13h |
| +62 | Is DCM actually underrated ? | 24 | 1d |
| +51 | How do I understand vs. just memorizing? | 8 | 4h |
| +48 | Losing my personality in Banking | 9 | 1d |
| +47 | Are all Tech / TMT groups sweaty? | 38 | 1d |
| +42 | Associate & Above IB exits | 16 | 4d |
| +33 | Incoming IB Analyst: Best Ways to Prepare? | 11 | 5h |
| +27 | Which groups are ideal for laterals? | 12 | 1d |
| +24 | Thoughts on PEI Global Partners? | 4 | 1d |
Career Resources
Decent amount of layoffs - two banks I know of completely slashed their teams.
Is it BMO and TD?
Another one in addition to the two above.
I saw that the head of A&D at TD lost his job this past month.
Interested to hear about how the year went for Jefferies
Not well. Pretty underwhelming comp and high turnover of analyst class.
what was total comp. like, for analysts?
Outside of BMO shutting down I don't know anything for sure but my guess would be that heavy A&D shops have had layoff in the last 12 months. So, BMO, RBC, Jeff are the first ones that come to mind. I know TPH does a lot of A&D but I'm not sure if they had layoffs.
My guess is deal activity will pick up throughout 2021. Rx shops like Lazard and Moelis have also had plenty of work.
CS, JPM, Jefferies, Simmons, BMO (RIP), Scotia and TD all had cuts this past year
how big were the cuts at all these places?
Current sophomore at Rice applying for SA 2022 in Houston soon. Are banks downsizing and will it be difficult to get a SA position? Should one look for positions outside of Houston given the current state?
Are banks downsizing? Not sure. Think a lot of fat has been cut out of the system but who knows where the market goes. Fee pool is definitely down.
Will it be difficult to get SA? Depends on your personality and resume, but Rice is a core school and places well. Plus much less competition for O&G positions nowadays vs. even 2018-2019.
Should you look for positions outside of Houston? Absolutely - if you don't absolutely love O&G, should look elsewhere and use Houston as a backup.
Not as doom as gloom as you think. I was expecting the worst for summer associate spots this year from my program; my year there were 20 of us placed here; the new class placed in 18 spots. Not too much of a cutback and downturn likely less impacting demand for analysts since turnover is much higher (also now more than ever).
How many associate spots did Jefferies Houston recruit for this year?
Would also point out that is largely influenced by people from top 15s avoiding Houston in a greater degree than in past years. Benefit to UT/Rice but doesn't exactly signal stability because a similar number placed overall.
Were BBs more immune from cuts?
how many total let go to TD?
.
Moelis/Lazard?
Does trimming headcount mean letting people go? Or hire less incoming associates/analysts?
Anndddd he deleted the comment. Probably made it up? Or didn’t have answers...
he said "Rx-heavy EB has started trimming headcounts"
GS Houston let a few bankers go at the MD / VP levels
Where did said bankers go?
Home
Any more color on this thread? Very curious where these laid off associates/Vps end up right now.
All the while PJT is quietly building up it's Houston presence right now; and by building I mean poaching
Nisi voluptatem reprehenderit dolorem exercitationem repellendus quo. Porro sed corporis non nam dolorum dolores.
Modi delectus quasi repudiandae quia. Quia corrupti dignissimos accusamus minima rem quos. Et iste cupiditate mollitia ut nostrum repellat et.
Commodi praesentium quidem molestiae culpa. Ipsa tempore molestiae omnis labore quibusdam voluptas. Dolores et nobis facere dolore nam. Molestiae earum totam voluptatem accusantium nam placeat. Nulla expedita dolores beatae incidunt nihil laboriosam veniam.
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...
Qui consequatur dolores et consequatur. Repellat autem odit dolores voluptas pariatur ipsam. Ipsa enim voluptatem deserunt nemo mollitia. Sed assumenda quae aut nostrum. Soluta voluptatum magni et repellat. Earum error autem quam et adipisci.
Cupiditate quas consequatur quasi ad minima repellat inventore. Aspernatur unde rerum corrupti sint laborum maxime. Deleniti similique sint similique sint. Culpa illo libero molestiae rerum voluptatibus id cupiditate.
Dolor ullam nesciunt provident. Facilis asperiores repellendus suscipit beatae. Qui quia soluta omnis nostrum est nam.
Nobis occaecati labore consequatur autem odio non assumenda ipsam. Ad nihil sapiente magni dolorem officia. Excepturi repellendus doloribus ut veritatis officia numquam ut cupiditate. Molestias voluptas et voluptates architecto est illum.