Thinking of pivoting back from the buyside. I'm not interested in any exits rather culture and long term potential.
I'm talking specifically about the european offices. Would love any insight.
From my POV it looks like GP Bullhound does the more onteresting deals (fundraising for startups) vs stifel which seems to be simply (L)MM Banking.
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Based on the most helpful WSO content, here's what you need to know:
GP Bullhound and Stifel have distinct focuses, especially in their European offices. GP Bullhound is known for its specialization in tech-focused deals, particularly fundraising for startups and growth companies. This makes it appealing if you're drawn to working on innovative and high-growth sectors. The culture at GP Bullhound is often described as entrepreneurial, given its niche focus and smaller scale compared to larger banks.
On the other hand, Stifel operates more as a (Lower) Middle Market (LMM) investment bank, with a broader range of services and deal types. While it may not have the same tech/startup focus as GP Bullhound, it offers a more traditional banking experience with exposure to various industries. However, Stifel's culture has been noted in some WSO threads as less favorable, with mentions of lower deal volume and a higher focus on pitches.
If you're prioritizing culture and long-term potential, GP Bullhound might align better with your interests, especially if you enjoy working in a more dynamic, tech-driven environment. However, if you're looking for a more traditional banking setup with broader industry exposure, Stifel could be worth considering.
Sources: B Riley, Blair, Stifel, Baird, Lincoln - Any Insight?, Citadel Global Equities (pay, culture, career path, lifestyle), Non US/Europe IB/PE Overview, Non US/Europe IB/PE Overview, Guide to LA IB Scene (2023 Edition)
Can’t provide any colour on Stifel but have seen they’ve done a couple mergers in Europe (LMM focused).
GPB is slightly below market comp with the trade off of having better WLB and working exclusively with software, if you’re into that. Deal sizes used to be sub £100m but currently 100-250 ; they recently got a $330m sell-side in the US so they’re in a positive growth trajectory in terms of deal size. Decent culture although can’t say it’s significantly better or worse tbh and similar shops. Also heavily involved with founder-led businesses if that’s your thing.
I interned for 6mo in Ldn hence my knowledge on the above but left for Arma/FT Partners which for me aligned better. But there was an Analyst on my team who switched from Arma/FTP to GPB which was mainly rooted in culture.
What are your opinions on other tech boutiques such as Torch Partners, DAI MAGISTER, Drake Star Partners?
I'm assuming you're talking about Arma and FTP London? Those are not in the same category lol....
Yes, I was. How so?
Would definitely say GPB (although full transparency I’m a tech banker in the U.S.). I know GPB in Europe has been doing larger deals lately than their bread and butter 50-100M sell sides. They handle some really large fundraisers and buy sides too (Ecovadis).
The U.S. GPB has been killing it lately, they just did the billion dollar fundraise for Flo Health and I know they’ve upped in deal sizes since a decade ago.
Stifel is frankly only ever doing those small sell-sides but you will likely get paid better. Not too sure on culture but I heard the GPB U.S. team has great culture so not sure if that translates to Europe.
Have a close friend who worked at GP Bullhound London they worked on rather crappy LMM deals and struggled to win pitches (don't think they have even done a fundraise in the 3 years if that is what you are looking for). Pay is below market, and bonus structure is favoured for partners/founders to cream the profits - hours are better compared to competitors but still IB hours. Also the talent at the back is pretty poor with weak exit opps (a quick linkedin search will struggle to find exits at all). All that being said GPB are good at marketing themeselves in the software eco-system and the US arm looks more promising having completed the Flo fundraise towards the end of last year.
I worked in Stifel London and I would say that their Tech team is definitely not LMM anymore. They only do 100mm+ deals now + they recently bought Bryan Garnier (not sure how the teams will be integrated). The downside is that it is an absolute sweatshop and they will work you hard. Not sure about the culture there. In general, everyone seemed to be nice. Ppl mostly exit to other banks or LMM funds
Thanks, actually am interviewing with the Tech team had the 1st round today. Let's see how it goes
But I guess Stifel Tech > GP Bullhound. For aspiring TMT career banker?
Given the momentum they have, I would definitely say that at least in Europe, Stifel Tech >>> GP
Bump. Stifel Tech is a strong team, sure they will predomintantly do 50-250m sell-sides but they have worked on a few in the 500m-1bn+ region. However, absolute sweatshop and lean at the junior level. Been aggressive in hiring a few MDs from direct competitors in the MM tech space.
I assume you're talking about the US office?
Any insights into analyst comp in the bank or if separate for tech team specifically?
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