Stifel vs Brown Gibbons Lang vs Cain Bros vs KeyBanc

I'm trying to learn more about the above firms to know which I should be focusing on. Are they all in the same tier (mid MM IB)? What's the order of the above firms based on comp, prestige, exit opps, business school placement and culture? Assume main NY/Chicago offices.

I understand KeyBanc and Cain merged but I think they act separately recruiting for now.

7 Comments
 

Curious that you place KeyBanc lowest in both. I thought they would be a solid middle market player given they have a balance sheet and are making acquisitions to improve their IB.

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Most Helpful
  • Cain (HC vertical for Keybank) (gap)
  • Stifel (gap)
  • Key (vertical specific - solid in certain industrial segments) (gap)
  • BGL

My impression of Stifel is that it's deal flow is more sporadic as it chases larger deals and from my understanding, does not win at a high rate vs. Jefferies, HL, Blair, etc. And I've seen several sub-$10 million EBITDA businesses that Stifel has been marketing (not talking huge multiple deals either). It also shows up as much as anyone in the MM on buy side advisory.

If you want MM HC, Cain has very strong deal flow. Heard mixed things about culture (seems to have been a bit of turnover lately in NY office) and execution, but hard to imagine they would lose to many groups on relevant HC services deals

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