What are people's thoughts on Guggenheim Securities?
The label of EB gets thrown around a lot with many banks who used to be strong (GHL, PWP) now being tentatively considered EBs but was curious if Guggenheim's reputation has risen to take their places? Also curious about recent exits and what people think about them poaching both of Barlays's global heads of industrials last year.
Good shop.
pwp is still considered strong, idk what op is on to be honest
In general there is just less visibility on PwP since they are private. It's clear that Evercore, Moelis, and PJT have been on a tear over the last couple years in terms of growth and the types of mandates they are on. Centerview too is private but the caliber of deals they are on is unquestionable.
Greenhill is struggling pretty badly (two quarters this year where they only generated $40M in IB fees, yikes). Just being in the industry my impression of PwP that it is still a good shop but definitely does not seem to have the same momentum as the ones above.
Guggenheim is a good shop and works on some real high quality mandates (especially in TMT). It would be disingenuous to say though that they really have anywhere near the placement as the ones mentioned above (not to say you can't still go buyside as a good candidate). They expanded extremely rapidly and I think that has at times diluted the analyst pool/quality and reps to go around on the top mandates.
Heard from an analyst that dealflow can be all or nothing depending on the group you're in - I personally don't see them as a strong or upward trending eb
Just finished recruiting with them and can say that they're definitely an EB today. Most of the WSO posts about Guggenheim are very outdated. As others have mentioned, they work on top mandates and the exits are good (top MMs and a few MFs, although not on the level of Evercore / PJT) TMT and HC (all three verticals) have solid dealflow, and Industrials as well with them poaching both Barclays' heads. Also heard good things about Retail and P&U (former BX P&U team). Not sure about FIG
gugg not an EB