Currently in process to move from BB M&A to EB RX. In processes with most (LAZ, EVR, PJT, HL, ROTH, GHL, Gleacher… all excluding Moelis basically). Is there a pecking order? I understand PJT comes out on top mostly. Also, how does Morgan Stanley’s Financing and Restructuring team hold up?
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have been discussed previously on wso but I think the consensus top are PJT HL Laz
I thought HL was a top shop for Rx in London, with Lazard being just underneath them ( i think they primarily operate under different sub-sectors, one covers the creditor's side and whatnot). PJT might be better than both tbh but it's important not to conflate US perceptions with London.
Overall its hard to say, all I wanted to emphasise was that HL is pretty good. Maybe not better than PJT
I work at one of PJT/HL/LAZ RX in London and my staffer always mentions the other two as main competitors I think it is safe to assume they are very similar. From an analyst perspective, there are differences: HL is RX specific while most juniors are generalists at PJT across Advisory and RX
This guy definitely works at LAZ, cause HL and PJT wouldn’t see LAZ as a competitor 😂
PJT and HL, Laz is below
PJT juniors are staffed across m&a and rx, some will find that attractive and others not, but personally i have no strong pref for one or the other (generalist vs exclusively rx)
Actually, they can indicate whether they want to do RX or M&A. A good deal for someone who wants to get exposure to both, but even if you only want to do RX it is great cause your preference is (apparently) taken seriously
Sounds miserable
any insights on PJT hours and culture?
How is Roth's RX team in London? Seems like they are struggling lately
Could I ask why Moelis is excluded? They are quite relevant, certainly more so than Greenhill, when looking at rx league tables.
from a pitching perspective, my MD only ever talks about roth/pjt/laz/hl as the competitors in london (im obvs currently at one of the four)
I have a contact inside Lazard rx London who was hired specifically for rx but now works on M&A as well due to lack of rx dealflow. His words not mine.
Separately, we need to mention PWP rx in this thread. They aren't topping league tables yet but are gradually rising and hungry for growth. Also pay on par or better than pjt in London
Would be interested in PWP as well. Does somebody have insights how they (or London PWP in general) are doing?
Shoutout to the Alixpartners RX/M&A practice in london
Wtf is dis shit
AHAHAHAHAHAHAHA
HL are the kings of Rx
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