No such thing as EB in London?
When researching around, EB’s like Moelis, Centerview and Evercore are basically ranked among GS/JP/MS (ish) in the US. At least if we consider prestige and prestige only. However, doing some deeper research basically tells me that the above firms are nowhere near the top tier BB’s in London. Are there anyone out there that could make it a bit more clear regarding the rankings of EB’s I London compared to BB’s and mid-market banks? Heard Lazard and Rothschild seems to have a stronger presence in London, although nowhere near top BB’s? I’m really curious about this in terms of prestige and exit ops! Please let me know if you have a better insight. Thanks!
Tier 1 EBs in London are Rothschild and PJT, Tier 2 are PWP and Lazard.
However, the top 5 BBs (GS/JPM/MS/Citi/BAML) offer much better exit opps - EBs just don't carry the same weight in Europe because they mostly do middle-market deals compared to the US where they have access to megadeals.
Simple and clear, thanks for the insight!
Ngl I'd switch Laz and PJT personally, PJT's M&A franchise is weak in London (did 4/5 deals last year total). Laz's is quite strong and they have a strong Rx platform, not quite HL/PJT RSSG though.
Agree and disagree
You are roughly right on the top EBs but the top 5 BBs don't offer much better exit opps. Top 3 will offer a bit better but there is a lot of self-selection with people who go to EBs just less likely to be the kind of people who want to go to megafunds etc. You will get looks from all the EBs you have mentioned
PJT is not Tier 1 EB. Their M&A is very weak and RX top-notch but then you also need to name HL, which is leading RX with PJT by far.
RTH and Lazard are very good in EMEA and PWP is also well-known. All other American EBs are nowhere near the reputation they have in the US
KEA, PER, Blackwood and co all proactively reach out to EB juniors for UMM/MF opportunities
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