Strength of EBs in London
Want to get everyone's opinions on EBs in London as I feel that their UK operations are greatly overhyped on this forum. Are Evercore and PJT as reputable in the UK / Europe and should they be viewed in the same light as their counterparts in the US?
This does not include EBs like Lazard and Rothschild, who are known to have a strong presence in Europe, and pertains more towards firms such as Evercore, PJT, Moelis etc.
In London things are very different, so lets start:
Generally speaking BB's are superior with regards to their deal flow as well as exit ops in Europe, but if you were to rank the EB's it would probably be this order:
Lazard + Rothschild PJT, Perella, Evercore Centerview, Moelis Greenhill (maybe on a level with moelis and centerview tbh)
Best,
This is correct for London. US is entirely different story.
Lol find me the guy that’s choosing Rothschild over Evercore
This is 100% Frankfurt not London. Centerview in London does way better. GHL and Moelis FFM however don't really have a dealflow
In Europe, BBs are definitely above EBs for LBO PE recruiting. SS/HF may be a different story though.
MFs just seem to prefer GS/MS/JP by a bit. LMM PEs are not that picky re BB "ranking".
Can't agree with the ranking though.
It's more like PJT/Perella/CVP/LAZ>Roths>MoCo>GHL
Roths is more mid-market to low-billions re deal size but quite established so would rank it above MoCo/GHL. Keep in mind though that one should separate Roths UK from Germany and Paris as they're very independent from each other!
Heard that its quite the sweatshop though. Would be nice if others could pitch in on this.
Keep in mind that this is M&A only and re Exit opps/deals.
If you're a strong candidate at either of the top one's there will be no difference for buyside recruiting (re LBO PE).
They're hyped because they're fantastic shops. Everyone I know at PJT and Evercore are super smart - they're all extremely happy there. Analyst size is also increasing year on year which indicates more dealflow. Seems like EBs are more and more becoming the best places to be (At a BB myself and in the process of lateraling).
For what it’s worth among my peer group the US EB’s (specifically PJT, EVR and CVP) are very highly regarded - on a similar footing to Laz/Roth and would be chosen over BBs aside from GS, MS, JPM (maybe BAML).
PJT especially for those interested in RX for obvious reasons - seem to attract a lot of highly experienced European masters candidates.
For M&A, while EVR, CVP and PWP in Europe are obviously not as established as their US, they all execute a number of large and high profile transactions each year from London. EVR seems to do more in the mid market, while CVP and PWP do a smaller number of larger transactions. While the number of deals is quite low, given the tiny analyst classes, I can only imagine the experience is stellar.
Heard the same - a lot of people have chosen PJT EVR and CVP over JPM Laz and Roths as well.
Lol why is this forum hyping Evercore so badly haha. No one is taking Evercore over Rothschild in London lmao
Not sure why this is getting so much MS. Rothschild stronger and more established in London whilst Evercore much stronger in the US. Deal flow etc is much better for Roth’s than for Evercore.