WF Mid-Cap IB
Hey everyone. I wanted to get thoughts on the mid market group for Wells, anyone worked there?
Looking to understand what comp, progression and deals people get on in the group. My little brother is choosing between them and another middle market bank think Baird, Stifel, Piper etc.
I have a college bud in that group. According to him: good deal flow considering there are more MM companies than large cap. He's worked on a $2b deal and a $500m deal - not really sure the range of check sizes in that group that gives you an idea. Pay seems strong. He made a $60k An1 bonus on 110 base.
WF has a giant commercial banking arm so a big push for them is to leverage those relationships and source deals for mid-cap. That's about all I know.
Did he say anything about what the cutoff is for the midcap group? 2B seems really good and similar to the BB midcaps in size
I don't know max check size they'll cover, but I know they have turned down a $300m sell-side.
Ironic I just saw the posting go down for An1. Don't know much on the group, I interviewed but ended up in coverage at one of the following firms RBC, UBS, DB. Did not want to get stuck doing small founder led deals as I am prioritizing a PE exit and on my first interview they let me know they did not interact with sponsors as that side was coverage and FSG.
They also let me know the companies they engaged typically were rec equipment, real estate, boats, RV's and home security businesses. Work was split between Cap markets, M&A etc. Seems like exits reflect that, I haven't seen LMM or MM from there. Seems like a chill group though everyone was laid back, I also don't know if they are competitive against the established mid markets like Piper, Baird, Stifle tbh so I would lean your brother that way.
Networked with the NYC Mid Cap team a good bit during group placement. Overall everyone seemed very chill and laid-back. Deal sized seem to be ~500mm—4bn, with decent deal flow. Exit are the weak spot, not a group to be in if you want to exit to PE. It does seem like decent spot to be a career banker or just coast for a couple years.
Know anything about the WF LA Mid Cap team?
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