SF Tech Banking Update
Hey guys,
I was hoping to get an update on the tech banking scene in San Francisco. How do these shops fair now? Well aware of the dominance of Q, MS, and GS but was hoping to get more insight on any up and coming players. Also, relevant info on these offices (comp/culture/exits) would be appreciated as well.
Thanks!
To add, here are some well-known tech shops in SF & SV but in no particular order within each deal size:
I would say for the "stand out" or "up and coming" groups you mentioned I would say Union Square, Centerview, and Code fit this bill. That being said I think a lot of these groups tend to foster more of a "career banking path" but of course a quick linkedin check will show you some do make the move to PE or VC. Would be curious if people have seen the same or different.
In regards to comp... I think groups generally pay the same as the street for Analysts but your boutiques like Qatalyst or Centerview tend to compensate their Associates and up quite well. Just the nature of being a smaller shop with high deal flow.
From reading around, I think moelis sf is considered a top shop in terms of exits/up and coming in terms of dealflow.
Yes and Qatalyst is the top upstream A&D shop in Houston
Goldman, MS (Menlo Office), Qatalyst — Evercore (Menlo), JPM — Centerview (Palo Alto), BAML (Palo Alto) — CS, Citi, Jefferies (although Jefferies places on buyside like the tier above^^) — Barclays, UBS, DB, Lazard, etc.
Notes: -This isn’t necessarily indicative of how well these shops place people on the buyside (Jefferies for example) -Lazard does mostly consulting work for clients they have on retainer -DB is somewhat strong in the semi space but struggles elsewhere -Centerview does a lot of consulting work, but they do some big transactions for clients like Seagate -CS used to be a top shop but they have really struggled as of late with tons of senior bankers leaving to other shops like Jefferies -BAML uses its balance sheet a lot, however, they do a solid amount of M&A (Salesforce & MuleSoft acquisition for example) -MS is probably the best for IPO processes and is also strong everywhere else -Goldman is the most well-rounded bank and best in my opinion for tech