Top Investment Banks in each industry 2018
I have not seen a comprehensive list of the top banks for each industry. So many people new to the banking industry have this "GS is king" mentality without realizing that GS is outclassed in many industries. I think it would be really helpful to have one thread that lists the top 3-5 banks in each industry. Please share your knowledge. Thanks!
Mod Note (Andy): Don't miss the top comment below by user @lapike", and see our IB Industry Reports in our Company Database.
Thanks!
BB, EBs, boutiques or any?
Healthcare: Centerview (EB), GS/MS/JPM (BB), Leerink (boutique), Cain Brothers (boutique), Ferghana Partners (no-ish name boutique)
Don't know about other industries that much
All of the below are based on either league tables, hearsay, my own prejudices, or things I learned in history class.
Energy is definitely TPH, Evercore,or Jefferies.
This is obviously my own opinion, and I don't know what much about every sector but (just a few top banks, not a particular order):
Tech: GS, MS, JPM, Qatalyst, Centerview Media & Telecom: MS, BAML, Evercore, Moelis and Guggenheim (media) Industrials: Citi, JPM, BAML, Lazard Energy: Citi, Barclays, Evercore, TPH Healthcare: MS, Lazard, JPM, Evercore, Centerview Consumer & Retail: GS, MS, JPM, BAML, Moelis, Evercore Real Estate: JPM, BAML, Evercore, FIG: GS, JPM Sponsors (Financing): JPM, BAML, CS, Jefferies (if you're looking for whack leverage) Sponsors (Actual Advisory): Evercore, Moelis, Lazard Large-Cap Restructuring: PJT, Lazard, Moelis Shareholder Activism / Defense: GS, Evercore
Obviously the top overall banks have strong groups across coverage teams and products, but thought I'd list a few groups that are well known / respected in each and try to cover many of the top banks' best teams.
Would agree with most of this. Would probably add Jefferies for their healthcare team.
Also need to add Houlihan and maybe Rothschild large-cap rx
I'm not an expert across all industries w/r/t bank rankings but:
For Tech - GS, MS, Qatalyst seriously dominate all the sell-side M&A mandates. Like as in I've yet to see a sell-side M&A deal of a minimum size (>$100m) that isn't represented by one of them. Rest of the banks are all lined up for buyside financing
Media & Telecom - I would add PJT (M&T is Taubman's forte), and JPM (they dominate the Media space)
Sponsors (Financing) - you may find this surprising but JPM is not as as active in the sponsor financing area (LBO) as you would think. At least in the US, the bulk of JPM's levfin deal flow is from corporates, not from sponsor LBOs. It's not that they are incapable of doing it, but they are very conservative when it comes to terms/leverage (relatively speaking), but you will see them often in M&A financing (not highly levered LBOs). When it comes to Sponsor LBO financings, I would put it as CS/Barclays, Jefferies, DB/BAML, in that order. European banks take the torch here
Restructuring: any RX related league table needs to include HLHZ...
Would not sleep on Jefferies Energy, doing way more A&D then most shops, most A&D flow in Houston