PJT RSSG is the most recession proof group
Let me explain. First, RX is revenue generating, meaning the employees are not an expense. What happens when shit hits the fan? Companies cut expenses.
Second, PJT is an EB. Not some shitty BB. S&T or the retail/commercial arm can't blow up the bank with their fuckery like 2007 (although it's much harder for S&T to cause a BB to go insolvent since the Volcker rule).
Third, restructuring loves it when shit hits the fan. Companies lose their shit and fall on their knees in front of MBB and RX to minimize losses (usually by aggressively reducing headcount).
Fourth, RSSG is PJT's flagship group. Like EVR M&A, DB TMT or CS Industrials. No shop is going to trim their flagship group. That would be retarded. They'll trim the non-rainmakers first, not their primary source of income.
This is some hard hitting analysis, please keep explaining the obvious.
Ah I must've disguised the fact that I was bragging about how good PJT RSSG is and how prestigious it was and how I worked there too hard. My mistake.
This seems a bit odd... you're stating these facts like the group had controversial opinions lmao.
What is, then?
CS industrials is not the flagship group.
Ok intern
I interned at CS buddy. If you knew what you were talking about you'd know that CS refers to industrials as GIG and no one was selecting GIG as their first choice for group placement. According to a friend of mine in the sponsors group the sponsors group generated more revenue for CS in one quarter than GIG did in an entire half. GIG deal flow doesn't compare to sponsors and stop spouting nonsense. GIG is also the largest out of any group at CS
Lol as others have said, how is CS Industrials their "flagship group"? Has to be Sponsors
Obviously know nothing about deal flow, its industrials
Uhh I mean any analyst at any bank is pretty much recession proof let’s be honest here...but yeah I suppose if we’re speaking of higher up folks
Huh? You think some TMT kid at Nomura is protected if another dot com crash happens?
I reject the premise first of all, but yes an analyst will be the last out the door...
Given how small the RX industry is headcount wise anyway, can’t you say this for most top RX groups? Obviously pjt does the most high profile deals though.
How do you figure they are PJT's flagship group? They are dwarfed in size by strategic advisory, both in terms of headcount and revenue.
They're also not top in the industry and highlight that they are #2 in their investor presentation.
what if theres a restructuring crash bro
What? Then financial institutions with restructuring arms will have to restructure to adapt to new market conditions. Who will they go for restructuring?
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