Santander IBD London Update
Hey all, I’ve been offered a summer analyst position at Santander London but wasn’t able to find any up-to-date information on the team. I know they’ve hired a lot in the past couple of years, but I haven’t seen much m&a activity from them. I would really appreciate any insights on the m&a team, the culture, and how they place in terms of deal flow and exits.
bump
Mixed bag.
Clearly not a strong M&A shop, especially in London.
Are paying big money to attract talent. Some of it is good, lots of the Seniors coming are shit (cough Tech cough)
Will see some deals but leverage balance sheet and loan book to win m&a mandates. Like a hsbc or Citi
Obviously it's better than nothing. Just depends on your other options.
I guess exits are probably LMM PE.
Thanks for the reply.
How hard would it be to lateral after 1-2 years? Alternatively, would it be better if I were to do an off-cycle at a better bank?
Why are those senior guys not good?
Hired a lot but no M&A deals so far. Would expect juniors to work on a huge amount of pitches that will go nowhere
Can you give any insights on best teams and the size of the London office?
It's a growing bank at the moment which comes with its pros and cons. On the downside there will be lots of pitching and brand building on the upside you don't risk layoffs and would be part of a growing franchise. By the time you would join full time (in two years) they should already be more established and with more consistent deal flow.
Hard to say whether they would succeed, but they brought on some very strong senior people (CVP cofounder as head of tech, lifted the Moelis tech team) so odds look good. I imagine exits would be higher tier banks and LMM PE. Pay is more or less street
Edit the CVP guy is head of HC not tech. Also energy team, which is the legacy franchise is very strong
Who’s the CVP guy? Was this recent?
How easy would it be to lateral to a better bank after 1-2 years, given that by that time, they would have a more established deal flow. Do you know what their top groups are outside of energy/infra?
bump
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