I was wondering how you guys would rank Blackstone M&A with doing M&A at Lehman or Merrill. Also, does anyoe know how good Merrill or Lehman's Financial Institution group is compared with the Goldman or Morgan stanley's in the US?
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I would take Merrill M&A over Lehman M&A. Lehman M&A vs. Blackstone M&A depends on if you think a stint in Blackstone's corp. finance department will lead to the PE side. I would talk to Blackstone about where you would go after their corp. fin. group since corp. fin. at Blackstone is an also ran.
FIG at MS and GS are way ahead of Lehman and Merrill. Probably put MER above LEH but neither is even close to MS or GS. I have heard that FIG at MS is a difficult work environment because some of the top guys in the group are real jerks.
The Prince of Wall Street
http://www.princeofwallstreet.com
Lehman has no M&A group.
Lehman M&A
http://www.lehman.com/ibd/product/ma/
The Prince of Wall Street
http://www.princeofwallstreet.com
what do you guys feel about the financial sponsors group at the ML and LB? which product/industry group is typicaly the best gateway to a PE job afterwards, both at an analyst and associate level? Thanks
financial sponsors is not a grreat group to be in these days, regardless of the bank. PE shops will look at all industry groups, so what ends up being more important is the actual deal flow, and your performance (getting top bucket bonus). everything equal, spnosors is a great stepping stone, however you have to be realistic about where the markets/dealflow stand
i know some kids who joined some BB sponsors groups, ft, this summer. they are working about 70-80 hrs a week, sounds nice, but they are hating the fact that everyone around them is gaining more expierence.
The website is wrong. Lehman has no M&A group.
I actually heard that FIG was one of MER's top groups?
http://blogs.wsj.com/deals/2007/12/13/lehman-gets-an-ma-boost/
where did wsj get all these lehman brothers m&a facts from then?
"In fact, Lehman has raked in almost $1.1 billion in M&A advisory fees for the calendar year to date, a 28% increase from a year earlier, according to Dealogic."
They do M&A in group man. ie. the teleoms group does all telecom m&a executions -- same with Goldman. Jeez, you don't need an m&a group to do m&a.
ahhh gotcha. thanks for the info =)
Check your facts Prince of Wall Street - preferrably not from doing a quick search of their website. As Wharton said, LEH does all M&A within their industry groups.
FIG at GS is a great group, if you have the opportunity to go there, do it. All banks do M&A work (i.e. 'have an M&A franchise' they talk about on website, that gets ranked, etc.) but nystateofmind and Wharton04 are right that those two do it out of the industry groups -- there's no dedicated M&A group at either bank. Several other banks went to that model after the tech bust, but LEH and GS are the only ones that have stuck with it. It fits them well because they both aggressively deemphasize the star culture. In LEH's case I think it hurts recruiting bc without an M&A group there's no one group that has off the chart exits, but it has the positive effect that most kids going to LEH aren't as worried about exit opps they just love the firm itself and it's culture. In GS's case all groups have strong exits so it doesn't matter. Neither Lehman nor ML is strong in Sponsors and Lev Fin -- if you want to do that stuff you should think DB or CS. Would have added JP and MS a year ago, but jobs at JP SLF aren't looking safe and MS moved summer analysts this past summer in Sponsors to other groups and gave like 2 offers in Lev Fin. As far as Blackstone M&A goes, Princeofwallstreet is kind of off the mark. He's right they aren't a top M&A player, but they do have strong exits, just not to Blackstone PE, which hires from outside the firm.
Wow Ranger, that was the dumbest question I've ever seen posted. =/
Nothing good is going to come out of people insulting each other over this. Ranger's original question, which reads as if he asked it out of confusion, not arrogance, didn't even have a hostile tone to it. After someone corrected him, he posted a pretty humble retraction "ahhh gotcha. thanks for the info =)".
It would be a waster to turn this into another sniping-fest like the "My Chinese Interviewer..." thread. Besides, Ranger says things like "thanks" and uses smily faces -- there's no way he's here to get in anyone's face.
yeah ranger--beware of what you write, others may be reading =/
j/k
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