Rothschild & Co reputation in Europe 2024
I see a lot of discussions on here about Elite Boutique banks from the Americans, but as a European I wonder why I don’t see much mentioned about Rothschild & Co. As they are arguably one of the most prestigious and dominant EBs, albeit mainly in Europe
Can people currently within the industry please speak a little about Rothschild’s reputation within European M&A and IBD in general?
They have some of the top deal flow and presence in Europe, and compete with LAZ / EVR but barely get mentioned in the US especially compared to other boutiques (admittedly the Rothschild business model is quite unique and is arguable not boutique due to their size and scope)
How well do Roths bankers exit into the buy-side? How is the culture at the firm? How is compensation? Is there a particular industry group / team that’s very strong or is renowned for their culture?
Would love to hear some first hand experiences
I am at Rothschild, in their Paris office. In France, the firm is the most prestigious boutique, with a stellar deal flow and excellent exit ops in both PE, corp dev, and politics (obviously Macron, but also numerous high-level politicians). Comp is very good. Hours are tough though… Excellent credentials across sectors but infra and sovereign are top groups in Paris. I would say Rothschild enjoys a solid reputation in continental Europe and in the UK, but not that much in the US. This is due to the US BB oligopoly in America. US market also doesn’t seem to be a priority in terms of strategy.
This makes no sense and is absolute copium. Hardly an oligopoly when the us markets have pretty much every BB competing with all EB's for a spot in the top 15 for league tables. If anything there's more of a BB oligopoly in europe with every BB competing with only Some EB's (Lazard, Rothschild, Evercore, CVP) for a spot in the top 15 and just a few years back the only competitive EBs in the European space were Lazard and Rothschild. Rothschild Management just don't have the same goal when it comes to expanding in weaker regions as say a pjt or evercore for example. Unlikely for this to change anytime soon. Just look at how the current dynamic is as an example. You hear of a superstar rainmaker md being poached, your thoughts would almost instantly jump to them heading over to evercore, cvp or pjt. Not just in the US but in EMEA too (Just look at what cvp and evr have been doing in Paris the past few years). It's not because rothschild isn't 'prestigious', its just that the firm will never offer the same type of packages that those aforementioned EB's will offer, This doesn't mean its inherently weaker than those EB's, its just not their business model to grow so aggressively at the moment.
You make some great points about the market landscape, albeit I don’t think it’s copium from OP / reply lmao - just a limited perspective on US firm expansionism since they’re in France where Roths is dominant.
What’s your thoughts on Roths exit opps & how does this line up compared to other EBs, since LAZ / EVR has high placement into PE etc, is it the same for Roths in EU?
How does the culture of the Paris office compare to London?
Is Infrastructure mainly a Parisian team? I wanted to go to London and heard good things about FIG and Consumer
Is there any teams to steer away from? Eg classic Roths Healthcare lol
I will say they are scary
In London I see Roth mainly as a mid market volume shop. Lots of deals, but mostly midcap. I wouldn’t expect to see them on some of the larger deals. That said, the name is very prestigious.
Culture-wise, they seem very old school. I went there for a management presentation and everybody was wearing suits and ties. I’m in an EB and haven’t been wearing a tie since my interview..
In terms of labelling Roths a mid market shop I’d reconsider, given that they have a separate business called Arrowpoint Advisory which specifically focuses on the mid market. To the point where they exchange deals with each other based on size, that being said the deals usually are smaller than LAZ / EVR
In terms of work attire suits and ties definitely aren’t the case😂 maybe you caught a day with a lot of presentations / client meeting, usually it’s pretty standard shirt and gilet / quarter zip and dress down on Fridays, even seen people wear trainers etc
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