Truist NYC rep
I know that Truist has more of an established reputation at its Atlanta office, but I was wondering if anyone had any insights to the NYC office in terms of rep, culture and exit opps? It seems like the NYC brand is not as established yet so I am looking for some insights
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Don't hear about them a whole lot. They have a $500 billion balance sheet and lackluster m&a so they won't ever compete with BB. That being said, always here good comp numbers and definitely a place that is looking to grow their CIB which will be valuable as an employee in a downturn.The HQ move to charlotte sucks and I never understood it. They move from being #1 in Atlanta to #3 in charlotte behind BofA and Wells Fargo.
Any word on the culture or exit opps out of NY? How big is the office compared to Atlanta?
Think it’s important to note that the IBD is still HQ’d in Atl
Would that make the experience work at a satellite office like NY?
Charlottes a way nicer city. Outside of buckhead and maybe even in buckhead Atlantas pretty trashy
Also makes it easier for them to poach talent (especially MO/BO) from Wells and BofA.
Terrible take. Yes obviously certain areas of Atl are sketch af but most of Midtown is extremely nice. Buckhead is going downhill though, I will concede
Charlotte just feels like the enriched white bread of America. Like it's not bad but just so goddamn boring
Culture is solid for IBD - but that's more because deal flow is slow and you're doing alot of follow-ons and financings.
Exit opps are lackluster. Seems like a small handful go to reputable $2b MM firms, but majority lateral to better banks, lower MM, or credit shops.
Do you think the slower deal flow and transactional experience would make it difficult to lateral? Or is lateraling a common path to take
It certainly doesn't help. Most guys lateral after a year or 2 as an analyst and take a 1-year stepback.
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