I'm curious about what some of the top firms/groups in the Twin Cities are. (I'm defining top by best exit opps) I'm wondering if a place headquartered there like Piper would have better exits than a satellite office of some other bank. Thanks.
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Piper is only good in healthcare and medtech. Exit opps are still decent b/c of the name recognition, but that continues to decline along with M&A deal flow in all other sectors.
Here is how you separate out Twin Cities IBs:
Tier 1: Lazard MM Harris Williams Houlihan (Rx is stronger, but CF has done a few nice deals the past couple of years)
Tier 2: GH&F Piper Triple Tree (sector-specific)
Everyone else is below that.
How does Lazard MM compare to top Chicago MM firms like Baird/Blair/Lincoln as far as pay/exit ops?
I've seen Lazard MM guys do well, but I still think those Chicago shops are better with execution and reputation (JMO). Exit opps are primarily going to be MM PE and Corp Dev. Right now Lazard MM is moving upstream and it abandoned the lower MM. I forget the exact fee minimum change, but it was bumped to the point where doing anything sub-$200 million isn't going to happen.
In general will all of those banks listed have some recruiting at Carlson? Or will some only go to 'better' schools?
Most of them do recruit at Carlson. The top tier is very selective, particularly HW. Lazard, Piper, GH&F all actively recruit there. I'd assume the rest do and if not, would seriously consider a strong candidate that took the time to network with company alumni.
@"Bullet-Tooth Tony" were your initial rankings per tier based on their exit opps, or were they the same throughout the tier? Would you know examples of shops were the guys in Tier 1 went to?
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