Updated info on Citi Tech? (SF and NY)
Let me know if you all have heard anything. Interested in updated views post-COVID / culture, etc. Much appreciated.
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Can confirm that Citi SF Tech is progressing rapidly and have emerged as a key player in large-cap tech M&A, though haven't heard a lot of good things about their culture/hours and it seems like a very brutal experience for analysts since the group runs quite lean at the junior level.
Nonetheless, they've worked on a number of sizable M&A deals so far this year, such as being the exclusive sell-side advisor to Mimecast's $5.8bn sale to Permira, exclusive buy-side advisor to SK Hynix's $9.0bn acquisition of Intel's NAND/SSD business, buy-side advisor to Vista Equity Partners & Evergreen Coast Capital's $16.5bn acquisition of Citrix, and buy-side advisor to Broadcom's $69.7bn acquisition of VMware, just to name a few. They've also recently won a few major ($10bn+) M&A mandates, so deal-flow is ramping up quickly. Makes for a great technical experience at the analyst level given the size/complexity of the deals and the fact that they do M&A in-house, if that's what you're looking for.
My firm has worked across Citi SF Tech on a few deals and it's clear that they've got some really sharp analysts, but everyone seem to be overworked as deal teams are often understaffed across the juniors. Exits-wise, they have done great recently especially this past cycle, with analysts going to top MF/UMM PE firms such as Silver Lake, Thoma Bravo, Carlyle, Permira, Elliot Management (Evergreen), Hg Capital, GI Partners, Charlesbank, H.I.G., Marlin Equity, and Vector Capital. If you're interested in growth equity, they've also placed analysts into some of the best GE shops, including TA Associates, Summit, JMI Equity, Softbank, and Spectrum Equity. If you don't mind the bad culture/hours and just want to spend 2 years in IB and exit to the buy-side, this could be a great role. Probably not the best place if you want to stay in IB for the long-term and want a better lifestyle/WLB.