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Analyst at a BB with friends over there. Overall PWP probably has one of the best cultures in London if not the best (Dietrich Becker is apparently super serious about culture), and people there are definitely on the friendlier/chiller side. Top teams are Industrials and TMT. Industrials consistently gets on some of the largest headliner deals across Europe, especially in DACH (which London juniors work on as well) and is a powerhouse group. TMT is mainly focused in telecom & infrastructure (data centers, telecom infrastructure, satellites, etc), and is also very strong with a strong senior team in France as well. TPH does a lot of work with the US team. FIG and FinTech is smaller but gets on a fair number of bank deals, insurance and InsurTech, and quite a lot of FinTech capital raises. Capital markets is obviously focused on growth capital so deal experience is different, but juniors there get a lot of client exposure. RX has grown quickly from basically nothing in 2019 and also has good deal flow, although RX has the sweatiest culture out of all groups. There's also a junior team focused on UK coverage, but I don't know too much about that besides that the two UK coverage partners are strong.

Overall exits seem to be strong as well (historical exits include Apollo, KKR, Carlyle).

 

Old TMT team was weak but they were culled in 2020 - new TMT has been pretty good (although largely buoyed by the French seniors that PWP hired in 2021). 

Would say that RX is pretty good - they're a newer team that was just built out in 2019 and they've been on some quality mandates. Wouldn't say that they're as good as us yet but they're definitely competitive among the best-of-the-rest crowd of Laz/Roth/Moelis but behind us and HL. High quality but small team.

 

Analyst 1 in IB - Gen

Why exactly does PWP have the best culture? Can you provide any example pls?

What comes to my mind is that juniors leave the office earlier or rarely work on weekends/no face time

Dont work there but have heard that people are very friendly and supportive

 

Heading to a weak BB for SA, and even though the top BBs are unmatched by EBs in London I want to keep my options open and look at EBs that are still stronger than my BB.

 

TheUKMonkey

I'd second this, unless its one of the less regarded BBs (DB, Citi...) I don't see why you would even consider moving from a GS/MS/JPM/UBS to PWP.

Even the less well regarded BBs are still BBs, and I wouldn't consider switching. 

Don't understand your rationale behind putting UBS in the same category as GS/MS/JPM. Honestly if it's UBS, I wouldn't even think twice before moving to a shop like PWP. I'd even take DB above UBS.

 

Not sure why you lumped UBS with JPM/GS/MS, they're worlds apart.

In London for deal flow, it's the top three, then BAML/Citi/Laz/Rothschild, then the rest of the BBs and maybe BNP.

 

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