Lazard vs Moelis Chicago Offices
Any insight into how Moelis vs Lazard are in Chicago? Any other EB's in Chicago to look at? Interested in deal flow, exits, culture
Trending Content
Career Resources
WSO Free Modeling Series - Now Open Through
May 31, 2024
9 Free Financial Modeling Lessons
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.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
Perella Weinberg Partners
The smallest EB presence in Chicago. Last I heard, Perella Weinberg Partners's Chicago office takes a handful of summer analysts and one summer associate, which confirms their smaller presence in the Chicago market. While I cannot comment on deal flow, culture seems strong. Many of the individuals that I have met from Perella Weinberg Partners's Chicago office are great people.
Lazard
One of the largest EB presences in Chicago from a headcount perspective. Chicago is home for quite a few senior bankers within Lazard's advisory, middle-market and restructuring practices. Lazard had some recent banker churn with certain employees being relocated to New York or lateraling to MM/BB platforms in Chicago. More importantly, it appears that George Bilicic has returned after a brief stint at Sempra Energy. George's return is huge for Lazard's Chicago office. From a culture perspective, I have enjoyed everyone that I have met; however, I have heard rumors of a few unique personalities at the senior level specific to Lazard's Chicago office. Deal flow is strong.
Evercore
In Chicago, Evercore has ~6 managing directors with a few focusing on restructuring. Comparatively speaking, Evercore appears to have one of the larger EB presences in Chicago. I cannot opine on culture specific to this office, but I'd imagine it would be similar to the collegial culture of their New York office. Deal flow is obviously strong.
Moelis
From a culture perspective, Moelis Chicago bankers have been among my favorite in Chicago. I've heard anecdotal stories of recent churn in the Moelis Chicago office, but I am confident that the existing team (and HQ) is committed to the Chicago market. I've heard mixed reviews regarding deal flow, so I'll refrain from commenting for now.
Greenhill
The Greenhill Chicago Team has ~ 15-20 bankers and has been committed to the Chicago marketplace for an extended period of time pre-dating the 2008/2009 recession. The team appears to enjoy strong deal flow and client relationships within the Midwest, which is a testament to the platform's commitment to Chicago. The bankers that I have met are quiet, but more importantly, nice.
Guggenheim
Guggenheim has a newer investment banking presence in Chicago. It's been discussed in other threads highlighting the Chicago banking scene, but I believe the office began with several senior banker laterals from Lazard's middle-market practice and William Blair. Deal flow is comparable with other EBs' discussed above. It might not be fair to comment on exit opportunities at this time given the newness of this office. I've seen quite a bit of in-bound headhunter activity targeting experienced associates, and I'd imagine many of these opportunities are with Guggenheim. I definitely believe that they're committed to competing in the Chicago banking scene.
As always, please feel free to correct me should you disagree with anything mentioned above. I certainly don't intend for this post to be turned into a hierarchy/prestige discussion. Each of these platforms carries extreme respect throughout the banking and sponsor community. Ultimately, your deal experience, modeling skills, and personality will determine placement during buyside recruiting.
I've added details regarding Guggenheim above.
Houlihan Lokey
Houlihan Lokey has a strong presence in Chicago with restructuring (obviously) and consumer & retail considered to be the platform's strongest groups in Chicago. From a cultural perspective, again, I've enjoyed many of the interactions with these bankers. Notice a trend within the Chicago marketplace? I do find a few bankers to be goofy, but I don't think that's ever been a disqualifier in deciding on one's fit with a platform. Houlihan Lokey has an extremely respectable middle-market franchise that competes with William Blair and Robert Baird, and exit opportunities will be group-dependent given the strength of some of the platform's groups.
Macquarie
I do not know much about Macquarie's Chicago office past a few senior bankers lateraling from Credit Suisse a few years prior. Based on other threads here on the forums, I believe this group focuses on paper & packaging and other industrial-focused verticals. I'd imagine exit opportunities would be weaker, comparatively, to some of the built-out EB presences in Chicago, including Lazard and Evercore.