RX Lay of The Land
Hi all, rising sophomore who is interested in recruiting for RX next year. Any sort of insight into the groups on the street and any additional commentary would be greatly appreciated!
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Restructuring is done through EBs primarily in NY but not all firms offer "restructuring-only" internships. Some examples include Lazard, CVP, PWP and Moelis which do an M&A/RX generalist internship program and make you select a group later on (although I heard that Moelis might be offering an RX-specific internship moving forward). Other top groups that do restructuring only include (in no order): HL, PJT, Evercore, Greenhill, Guggenheim, Ducera.
Any groups seen as rising, fastest growing?
Hopefully someone who's been working in rx for a while can answer this but I heard that Evercore used to hire ~5 SAs a few years ago and now its around 8-9 so I suppose that's a good sign. But honestly as a rising sophomore, that shouldn't really be a serious concern right now. Groups like HL RX, CVP and PJT RSSG may not have grown their headcount as fast as Evercore (don't know if this is the case, I'm just guessing) but they're all still top banking groups.
How is Rothschild? I heard they suffered after losing their co-heads, but that was back in 2017, and I can’t find much recent information
RX group is one of their strongest if not the strongest group in the NY office
CVP has a restructuring focused position as well in addition to generalist.
Is that a new thing? Thought they were only generalist
Ducera is technically generalist internship and analyst and the work they do varies a lot with the market. 2021 they were doing a lot of M&A, which will shift back towards rx once there is more activity. But although they are generalist and doing a lot of m&a, I have heard it is a very rx intensive interview process.
Some other non-EB firms in NY also do RX - for example Baird opened up a new RX group recently.
HL, Ducera, PJT, and a few others will heavily shift to mostly rx as this next cycle continues to heat up. These groups have already gotten much busier over the past few weeks.
A lot of the of the other firms have M&A groups that will struggle mightily during this cycle and really drag down full-firm margin.
How do the Moelis, Perella, Greenhills of the world stack up
Anyone know anything about GLC Advisors?
glc advisors - nyc
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