PWP LA
Hey all - ignore the flair, current AN2 planning to go A2A at my BB and perhaps moving to LA down the line. Does anyone have any good insights on PWP's LA office? I noticed they've grown a lot over the past few years.
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Strong office - primarily Industrials but they also have a partner focused on P&U and energy transition as well as another partner focused on Tech in the office. As I understand the ex-BofA and JPM seniors largely focus on large-cap client coverage and are whale hunters, whereas the ex-Laz senior focusing on A&D is more focused on bringing in MM to mid-cap sell-sides. Heard that the office is a pretty technical place because a lot of deals they do involve public companies, and the seniors still get into the weeds and Excel files themselves. The office is pretty lean so expectations are high, but I've heard good things about culture; people in the office are chill and understanding, no face-time culture (3 days in office and people go home in the afternoons where they finish up work), and seniors that are genuinely focused on mentorship. Also, I guess it doesn't apply to you since you want to go A2A, but apparently the seniors are very open to buyside recruiting and help out with that. Overall seems like the place to be if you're into Industrials and want to be in LA.
would LGP hire from PWP's LA office
Have a few buddies there, and can second what's been said above. Strong seniors that bring in a good variety of deal flow. On the culture aspect, the office is definitely hard-working and juniors are expected to take on considerable responsibility because of how lean the office is at the mid-level, but the culture's good. Mid-level employees limit the amount of unnecessary work and are understanding, the team has good camaraderie and no face-time culture, and seniors are genuinely great people to work with.
How does staffing work given that there's also a Tech partner in the office? Are juniors generalists?
Know the ex-Bofa guys that started the LA office well - definitely a strong group and also smart people, and their recent senior hires are also very high quality. Not in the Tech space so less familiar with the Tech guy, but the Lazard senior's a rainmaker and also is genuinely one of the most likeable bankers I've met, and the JPM guy was responsible for covering a lot of the largest WC P&U clients as well as the O&G supermajors from his seat. Also, iirc nearly every junior there went to UCLA/USC/Wharton.
Great info above, and just plugging another thread on the topic that was very insightful.
https://www.wallstreetoasis.com/forum/investment-banking/pwp-la-0
Does LA cross-staff with other offices?
Yes / no - will generally be primarily staffed within LA / those verticals, but can be cross staffed with other offices depending where there's a need.
Yeah they work closely with NY and Chicago Industrials
Heard that the office has good deal flow and culture, but juniors get crushed there because of how lean the junior:senior ratio is.
Juniors definitely get crushed there, can confirm that.
How many interns does the LA office usually take?
Believe that it was 4 this past summer.
4
heard they're aiming for 5-6 SAs down the line.
Echoing what's been said - strong office, good deal flow, good culture, wlb can get pretty sweaty because the office is so lean. Also, they probably have the best real estate in LA out of any IB group for what it's worth.
Facts on the real estate part - I don't get why so many firms are in 1999 when the Century Plaza Towers are so much nicer.
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