Top BB Consumer Retail Teams
Coming from the TMT thread, would love to see an update in the Consumer Retail space. I assume GS/JPM are dominant. Thoughts on the other BB groups?
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Wouldn't really say JPM is "dominant" in the space.
BAML, Barclays, GS, JPM, MS are all known to have good groups.
Some really solid EB and MM banks in CR as well.
What? I'm pretty sure the other 5 banks you listed all have stronger C&R groups than JPMs.
Barclays
GS
CVP is pretty dominant (not a BB, but yeah just saying). GS is the strongest BB, I would say BAML / Barc / JPM are right below. Don't know much about MS or CS retail (although saw CS was on 7/11). DB and UBS are not very strong
Deal sizes in consumer retail are across the spectrum and CVP is very good but too focused on large-cap representation to be 'dominant.' Case in point - their 5 transactions this year have been buysides for Diageo, Mondelez, Pepsi, USFoods and Kim Clark. This is certainly not a negative, especially for a junior banker.
The other EBs are pretty weak (unless maybe you're on the 3G / ABI account at Lazard..)
Among the BBs, I'd rank MS at the BAML and JPM tier. Don't think it's worth splitting hairs and assuming multiple offers would pick on factors other than 'group strength'. Then I would put Barc then CS after. Totally agree that DB and UBS (and Citi, to be completionist) are non-factors in the space
Do you see this changing over the near term? Ex: Barclays’ senior team left for EVR ~2 yrs ago or the former group head at MS is now as GS. Especially curious about your take on the team at EVR
Not really
FYI MS lost a few more MDs late last year including another group head. But from the outside they seem to be doing ok
Same for Barc. They're a very aggressive lender and that will always be a tailwind for their advisory business
On the other hand I can't think of a single large cr deal that Evercore has worked on since the moves you mentioned. The rumored Walgreens LBO, maybe? I'd still work there and cash those checks, just in a different vertical
Strongest BBs in consumer: BofA, MS, GS, JPM
Well known MMs: Piper, Jefferies, William Blair,
Surprised you mentioned Blair before HL and HW for consumer. Blair’s strengths are tech and hc. Any specific reason for including them, haven’t heard much abt them in the space.
Would throw in North Point Advisors, Houlihan and HW (sponsors like to hire them purely for process, not industry expertise). I am in C&R and the above is pretty accurate.
Worked in MM C&R for ~3 years before switching over to GE. The biggest MM players in no order (not incl. Jefferies because they aren't a pure MM player): HL (top player in new age goods, food / bev, and RX in C&R), Piper (top player in new age goods, food / bev, and restaurants), Baird (top player in beauty, fashion, and outdoors goods), HW (top player in fitness, honestly meh for everything else in consumer not sponsors related). Blair is decent too, but C&R isn't their priority, and have heard from numerous sources that they've been cutting their C&R team.
How is Deutsche Bank in Consumer?
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