Santander Exits
Anyone have any insights on the exits for Santander analysts? Assume varies group by group but would appreciate any color on placement %
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What’s Santander? Genuine question…
This is the same question I get asked in almost every PE interview I have been in. I guess this sums up OP’s question for better or for worse lol.
At least you're getting interviews?
Have you guys really never heard of it? Santander is huge in latam + Europe. Here in Brazil it's well known to the point that idk, even my grandma with Alzheimer knows it lmao.
Exit to the streets
Other banks mostly. Minimal buyside placement
All groups? Would have assumed sponsors places some
Are you confusing CS Sponsors with Santander - which may have hired people from that team?
Recruiters are not pretending like Santander is CS quality for exit ops bc they hired some senior guys from there. It’s a bottom tier shop where most groups have minimal deal flow
Spoken like someone who couldn’t even get an offer at Santander — their LA office is strong as is NY sponsors/levfin
Tell me about the Santander exits then
Worked in MF Infra PE - nice try…I was at an EB before.
Some Santander kids believe their exits will be exponentially better after CS absorption, which is a bit unfortunate. LA seems to be better than NY, as they seem to have better quality senior bankers though they still will not be getting many looks from HHs.
LGP, TPG, Arini, Crescent… with looks at plenty of names like SL, TB, BX, ECP, Oaktree, Ares, Silver Point, GA, Carlyle, HIG, Citadel, KKR, ISQ, Bain, EQT, CD&R, Genstar…
Know LA has consistent good looks
I think calling Santander sponsors or LevFin strong is a bit hyperbolic. Is it a better franchise than pre-CS hires? Yes. Are they an improving franchise? Yes. Is it a strong overall franchise? No. They still don't win lead-lefts, the vast majority of their deals are going to be on the right. Would say you need to be at least be a top 10 franchise in a product or coverage area to be "strong", Santander is not close to that in the US.
Think the people who used to work at Credit Suisse will be fine; others will have a hard time exiting
Anyone have any insights on their tech group’s exits (SF)?
Are you on their SF tech team?
Yes that’s why I’m asking
Have some friends who went over there as An1 after CS / UBS fiasco. 3 of the 5 have exits lined up to mega funds or big credit shops
Think it highly depends on the group and deal flow (more so than at other firms). Seems like sponsors / levfin / energy are really driving the ship while other groups lag behind quite a bit
So they were all previously Credit Suisse? Or came in through Santander summer/grad scheme?
All previously interned @ CS.
Started full time @ Santander over UBS to follow their teams
Have heard the LA office makes up for 60% of total fees generated for the banking arm. Any insights on that? I assume the LA office has the best exits although only on the West Coast I’d assume.
I don’t think it’s true. If anything, their NY Levfin/sponsor generate most of the fees
is this for the London Office?
is this for the London office?
Pretty sure this bank is heading in wrong direction
Any reason why?
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