Truist groups rankings
Anyone have insight on their IB coverage groups right now?
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Based on the most helpful WSO content, Truist's strongest investment banking coverage groups are Healthcare (HC) and Technology, Media, and Telecom (TMT). These groups are consistently highlighted as the top-performing and most sought-after within the bank. Additionally, Leveraged Finance (LevFin) is noted as the strongest product group, offering solid deal experience.
Other groups like Industrials have also historically performed well, but the general consensus is that HC, TMT, and LevFin are the standout options for deal flow and career growth. However, some feedback suggests that even within these groups, the experience may not be as robust as at other top-tier banks.
For those considering Truist, it's worth noting that the bank has been actively hiring senior bankers to build out groups like TMT and Sponsors, which could indicate growth potential in these areas.
Sources: Truist’s Strengths in IB?, Truist / STRH, SunTrust Robinson Humphrey (STRH): An Extensive Review, Del, Truist: Sweatier Than Ever In 2023
Bump
Cannot speak to specifics, but Industrials and Healthcare typically are referred as the strongest groups. Like most investment banks, the experience is largely dependent on the MD you cover. I’ve heard the tech group has inconsistent deal flow with 1/2 MDs carrying the majority of deals.
Thanks that’s super helpful! Have you heard anything about FIG?
Haven't heard much about FIG other than they have a few former BofA bankers because of Wiant
Tech group does 0 M&A
Heard tech has been super rough but that they actually have deals right now
As comments below have stated, healthcare and industrials probably get the most volume, but are also the sweatiest (especially healthcare). NY office runs lean relative to other offices from what I’ve heard so if you’re working out of there, that will be an experience. Tech is just endless pitching right now and has been for a while.
FIG is relatively new and is being built out by a bunch of ex-BofA guys who I think want to retire but could be interesting and they’ve closed a few deals but unsure about consistent deal flow or if these are one-off deals.
They have energy split between Texas (O&G) and NY (Power, Renewables, Infra). Honestly don’t know much about their O&G group but the heads for Power seem legit but hard to track deal flow.
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Unsure about industrials but healthcare and LevFin Originations (largely from Atlanta office) has place pretty solid into MM PE shops. For all locations and groups, you’ll get a few people going to go onto big places like Carlyle and BX but probably for roles in secondaries or IR. Most common exit seems to be lateraling up to a different bank if we are being honest. But also the bank is still semi new to truly know the exits yet.
Bump - Anyone have any insight on their Chicago industrial group?
Truist power sucks - they missed an all-time deal boom the past 4 years…maybe had a co-advisor on 3 notable deals
Truist oil and gas is almost exclusively DCM/lending business
Bump
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