31 Comments
 

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.

 
Controversial

Dollar Bill Stearn

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 

 

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. 

 

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.

 

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

 

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