What is Lazard MM like?
I've noticed nobody on this site gives any respect to LAZ MM but from going to their NY office it doesn't seem that bad. What are their Chicago and Minneapolis offices like?
I've noticed nobody on this site gives any respect to LAZ MM but from going to their NY office it doesn't seem that bad. What are their Chicago and Minneapolis offices like?
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Just... don't.
Lol I think it'd be better than some 5 man shop.
Like Lazard, but MM
Not necessarily. They bought out a MM bank and simply put the Lazard name over the takeover.
If by "like Lazard" you mean that they're both investment banks, yes.
What do you mean, what are they like?
General culture, deal flow, etc. would be nice. Chicago or Minneapolis is where I'd be looking.
Depends on the coverage group, but it has a traditional IB feel and culture, meaning you work pretty hard, but also get solid experience and reps. People on here are slamming it like Laz MM doesn't do deals (which makes no sense given deal history). It's still a very active shop and competes with your traditional MM powerhouses for deal flow and often works with the Lazard Feres when MM opportunities (buy side and sell side) come about through discussions with their clients. Pay is competitive with HL, RWB, etc.
Deal flow does have some dependency based on how strong the coverage team is, as does the amount of sponsor work. Certain groups do 75%+ sponsor work, others do far less. Going from Laz MM to MM PE funds or Corp Dev is not uncommon. One other difference is there tends to be more strategy involved in many groups compared to other purely transactional MM shops.
In MPLS, Laz MM is all there is, as opposed to Chicago, which has both LF and MM.
I know a guy who worked there over the last few summers. He generally enjoyed it, but was not happy with some elements of the culture and I'm not sure if he realized before the summer that it was not Lazard Freres (as in, he wouldnt be doing the big deals, which isn't really that important except for PE recruitment IMO).
I think Laz MM is ok, but many people who work there think they are at Freres - which they are not.
Imagine if Shake Shack bought out McDonald's and call it Shake Shack MM. Whoever went to McDonalds would still go to Shake Shack MM, and whoever went to Shake Shack would still not go to MM.
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Mmm I don't think that's true. Having recruited there and done my own research, they are a mid-tier MM bank with okay MM PE exits, but nothing to write home about...
That's my perception as well.
Lazard Freres itself also does MM deals in addition to large deals, look at their transactions on their website. Lazard MM purely focuses on that area
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