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Heard its insurance vertical is quite strong - led by Jawad (ex Lehman) and he had one of the best track record in several niche verticals within insurance including group benefit and life. Recently announced several capital raising and the Farmer deal (advised Resolution).
Do you know what the exit ops from the group are like? How does the insurance group place for PE specifically, considering that it is a strong team?
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Citi's insurance team has been historically pretty strong (historically top 5, maybe more top 10 now). We've co-advised with them a bunch of times. However, there is a lot of turnover constantly. I remember two deals, which were dragging on for a bit, where both of Citi's entire deal teams (execution MD down) had turned over before they closed. That being said, they always seem to bounce back, probably just a good platform franchise and reputation.
Analysts always exited pretty strong. They would end up at a variety of the top FIG funds.
I've coadvised with their fintech team and was not impressed (unsure if fintech falls under FIG or not at Citi). They were on a few cool deals, but their execution sucked and I remember their analysts being very difficult to work with.
Yes, FinTech falls under FIG at Citi
.
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heard from someone there they are waived to work Saturdays 1x a month
Is this on live deals only or even for pitches and BD work?
Known as nerd heaven in London
Yep fucking nerds all around
Lol FIG guys are generally nerds
Used to sit on same floor as them and agree 100% lol
Are they smart people or no lol
Curious about their exit ops as well?
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Great group, definitely one of the stronger franchises at Citi. Group is broken down into three verticals: Banks/specialty fnce/diversified, insurance/AM, fintech.
Fintech is a growing group (group only really started 4-5 years ago) and is now quite large. Great people and have closed some huge deals in payments including Evo and worldpay.
Insurance has plenty of deal flow but is a bit more of a sweat shop.
Banks has seen better days with a large chunk of their spec fin and div fnce divisions leaving for DB.
Do you know what their exits are like? Is MF/UMM possible?
Recent exits honestly didn’t seem too strong. Saw one go PE and a few to corp dev. People there were nice though, long hours tho
Fig sucks
I wouldn't join Citi until they're done cutting bodies en masse but do you.
FIG is boring bro
I know bro but I heard exits can be good for PE from BB
We'll make it one day bros
Nobody enjoys working in fig bro
Why bro
mediocre. Not many people consider Citi a FIG shop. Although some people who were decent went there.
care to elaborate?
personal experience. Working with them on a live deal, knowing a few folks that have worked in that group, etc.
can give more details in PM.
FIG is a fruit btw , so maybe be careful
Bump. Heard there were multiple senior departures lately...
Heard the head of insurance left and is probably being a few with him. Can anyone confirm?
went to JPM
whole team gone to db and jpm
Which is strongest vertical now?
How many at each level left aside from the one MD? I'm surprised at this given they seem to have strong deal flow and culture.
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