Nomura Greentech vs top lending PF (MUFG/SMBC/BNP/Macq)
Hey yall, recently got an offer from both. Nomura is in SF and the PF offer is in LA. If my ultimate goal was to break into M&A in LA, which would you guys pick? Wouldn’t mind summering in SF but can’t stand the thought of working there FT. Feel like it might be easier to lateral into M&A from nomura but the PF offer is already in LA and for me, location > work. Lmk what yall think pls 🙏🏻
Easily Nomura Greentech. Even if it was non-Greentech Nomura, I'd have gone with that.
Have seen ex-Greentech juniors in the past year or two lateral to EB/BB. Overall, the LA IB scene is much smaller than other major cities, but you'll be much better positioned coming from a group that does a decent amount of advisory within its subsector versus PF.
Have heard bad things about nomuras deal flow whereas the PF bank has very good deal flow. My issue lies in the fact that I cannot be in SF FT for familial reasons. While I recognize that it is better for career optionality, I’m really more so worried about my odds of lateraling for FT.
Deal flow for Nomura non-Greentech isn't good, but for Greentech, it is really good as they are one of the industry leaders in that space. And a PF deal is much different than a typical M&A advisory deal, so even if you are getting a lot of exposure to deals from one of those balance-sheet banks, the skills really won't be that translatable and I'd guarantee all the LA banks that have a substantial presence in M&A would first look at someone coming from Greentech before someone on those PF teams.
If location matters THAT much to you, then just be aware that if you do the PF route and end up not being able to successfully re-recruit full-time, it becomes harder to pivot out of PF into M&A as an experienced hire.
For m&a would do Nomura. You’ll be working on actual m&a deals. Nomura Greentech is still probably their top group.
The PF group will be better for modeling reps, but it’s not as transferable for wider IB. Personally, if given the chance I’d take Macquarie PF lending over Greentech any day.
Interesting, why would you say that?
I just think PF is a cooler job than M&A. You get to think more critically and play creatively with debt structures. Also, I'd imagine at a shop like Macquarie with alumni across infra buy-side, you would get decent looks.
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