SVB vs. Guggenheim Healthcare? Which Bank is Better in 2022?
which firm is better in healthcare? I know the answer a year or two ago would have hands down been Guggenheim, but SVB has taken major strides in healthcare in the past year, with some of their biggest accomplishments having recently been the lead sell-side advisor in the $6bn sale of LHC Group to UnitedHealth, lead bookrunner on the $3.3bn IPO of Komondo Health this summer, and co-advising on the $1.9bn sale of Zogenix and the $3.3bn sale of Dicerna. Coincidentally, according to Axios, "SVB’s big push into M&A advisory started with the February 2021 appointment of heavy hitter Barry Blake. The bank poached Blake from Guggenheim Securities, naming him global co-head of investment banking. Shortly after, Robert Minear from Guggenheim jumped ship to steer SVB’s financial sponsor origination efforts."
Given all the recent developments, which firm has a better healthcare practice?
i'd say svbl
Don't have a horse in this race but seems like an odd comparison. SVB poached a few bankers from Gugg and has closed a few big advisory deals but is still a much smaller player. Not a knock on SVB in any way.
Neither, they're both glorified designated co-managers for Cantor and to a lesser extent Piper.
If you just want to work on specific subverticals, Gugg since they have specific vertical teams (all of which are strong)
If you want to get a more of a generalist experience in Healthcare, SVBL is better.
Real question is who comps more. Any specific data points?
More dealflow at SVB
Bigger deals at Gugg (believe at once time Gugg was Pfizers advisor of choice but this may not be true anymore). Ive also heard really good things about med devices at Gugg
Centerview owns the Pfizer relationship now
How did they snatch it from Gugg, thought Alan Schwartz was their man?
Similar tier but SVB has more deal flow and usually smaller in size. Have heard similar comp levels as well. Pick based on team fit, location, and long term career potential.
I can't speak to svb but as someone at gugg but not in a hc group I can say without a doubt all three verticals are top groups on the street and compete with healthcare heavy-hitters like jpm and gs, especially on the hcs side. Medtech at gugg is still probably the best on the street in terms of deal flow. Biopharma still holds the pfizer relationship. The flipside is that it's sweaty as fuck aside from biopharm.
Centerview owns the Pfizer relationship now
This isn’t true - Gugg does specific Pfizer segments
How are the exits for healthcare analysts and does it vary significantly between specific healthcare groups? Would really appreciate your insight
SVB An1 base is lower, currently at 100k (below street)
How is SVB total comp?
Is it just me or has Guggenheim absolutely tanked in the M&A tables? I had to pull some data a few days ago and saw them somewhere way down but didn’t really look into it beyond that.
I noticed they are well below last year, as well. Would love to hear if this because perhaps their year is backloaded, or does this sometimes happen with EBs/MMs -- their yearly ranking (deal-wise) can swing fairly dramatically from one year to the next?
I mean, high level thoughts here, but a lot of the independents will have years where they work on a few massive deals which shoots them up the tables from a txn value basis but then they won’t have the same next year which brings them lower. Not necessarily specific to Gugg but my cursory glance of the tables looked like they have fallen considerably.
Think a little of both - PWP also way down there this year, even lower I believe. Just one of those years for those guys I guess
Edit
Wow, all-hands call? Did they say what it's about? Did you guys have one of those last year?
Edit
Oh, wow. Wonder if they're going to brace you guys for lower bonuses. Curious as to how that will be received, since Gugg is known as paying near top of the Street.
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