I talked to an incoming analyst at Rothschilds who said that they cancelled their group placement and are making everyone become a generalist and that they might even be staffed in deals in different offices remotely. Can anyone verify this?
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Thats standard across a few of the EBs.
You end up being sector and product agnostic.
Good from a standpoint of deal exposure. You'll likely close more deals on average per junior and have a wider product experience (M&A, Restructure, Ipo, Levfin).
Downside is that in those places there isn't any "group prestige" until you make associate.
I don’t know of any other bank that staffs analyst on deals in other offices remotely regularly and for everyone. I don’t know if this is just their coverage groups or if it includes their product ones like restructuring or ecm, but it does others
Moelis does for example. Others do it for first year analysts before moving to sectors.
Also nobody said remote staffing were "regularly". Where did you pick that up from?
Every bank I've been in has had London or NYC support for non core country teams if staffing is tight in the regional offices.
Regular as in it’s not supposed to be support but rather the primary analysts on deals will be assigned regardless of office location
Not true at all nowadays for NY
Larger EBs all have group placement processes for analysts. Only top shops that I could think of with generalist programs are PJT M&A and CVP.
Moelis and Evercore still have a portion of their juniors act as "generalist M&A" analysts where they get plugged in where needed. Not sure if they got rid of it recently though.
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