Which IBs are actually growing?
i dont mean like "we are looking to capture extra market share blah blah"
i mean actually which IBs are walking the walk and ACTUALLY growing?
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Canaccord Genuity. Check out their growth -- it's genuinely impressive. Looking to lateral there, have a contact there who speaks highly of the culture
Same situation, have a friend there and he gets rocked with the hours in the tech group. He said great culture but extremely long hours
How's the pay?
Canaccord's growth is legit. I have their latest marketing materials in my inbox. CG's tech group completed 130+ transactions during the past year. I've heard great things about the culture at CG too.
SVB Leerink is growing like crazy
Baird is up 300% this year in terms of total IB fee revenue, largely driven by M&A. They are also doing increasingly larger deals.
Saw a recent thread that Baird’s culture is still incredibly brutal. Did their policies change?
I would disagree with them having a brutal culture. Don't think many banks have a culture as strong / stronger than Baird.
Hours have been brutal over the last year or so, but that's largely market driven coupled with some mis-timed layoffs heading into COVID.
Baird has protected Saturdays and a pretty strong culture. My friend lateraled there and said the hours improved tremendously from his old MM, and that the culture was much better (e.g., chiller, nicer dudes). I know a handful of people working out of Baird Chicago and they all speak very highly of the culture. I have heard Milwaukee (Baird's HQ) is sweaty from an ex-Associate there.
I'd throw Houlihan Lokey after their acquisition of GCA in the mix. Especially GCA's tech practice and their presence in Europe and Asia should help HL's Corporate Finance Division catch up to the standing of its RX practice.
PWP is growing as well
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Svb Leerink
Moelis doing very well
Idk who MS this - hiring a lot (partly to make up for increased churn during covid, sure), all time revenue, some flagship transactions
Same people who MS the post about PWP lol. A lot of the people on this site don’t know what they’re talking about (it’s an echo chamber)
Also Gugg
thank you for the comments interns, prospects and analyst 1s
You literally commented on another thread because you didn’t understand what a leverage ratio was even after someone explained it to you
please stop posting irrelevant info in this thread.
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This thread is showing that every bank grows when M&A breaks records… yes, we all have those quarterly calls where our banks tells how great we are. You’d be hard pressed to find a bank that didn’t grow this year…
This...the better question right now, is which banks AREN'T growing, and why. The marketplace is so frothy right now that there isn't really an excuse to be stagnant or shrinking.
Hsbc cuz it fucking sucks lol
Greenhill because its been on a downward spiral for a decade. Their logo in their decks is still fucking pixelated lmao. They’re stuck in 2008
This is exactly right. As dry powder grows, follow the $ amount of P/E deals and M+A will follow suit.
GS - cross markets group
Is that MM deals?
Yes
PJT/ CVP/ MOE/ PWP are some of the younger/ faster growing independents… each have mass deal volume/ Revenue with little headcount. Also, firms are both growing in # of employees and partners. A few are public which helps their cases too.
PJT has been public for a while
PJT has basically always been public, for it's entire existence
Lol what? Objectively that's untrue. Over the past 5/6 years PWP's revenue has grown at 10% YoY, which is objectively slower than other public non-BBs like Evercore, PJT, Moelis, Jefferies, and Houlihan Lokey. PWP's had a good 2020/2021 but people's memories are way too short and forget that besides Greenhill PWP's been arguably the most inconsistent independent advisory firm over the past decade, alternating between years they absolutely knock the ball out of the park and lackluster years.
Lol if you look at the user's post history they're just a PWP shill.
?
Didn’t PJT IPO the day it spun out of Bx?
Guggenheim MM and Cowen
True
Have you seen how many bankers gugg has hired in the past two years?
SVB Leerink. Their HC group is increasingly doing big deals, they just started their Tech IB practice in September and have already advised on sizable deals and have poached a ton of senior banker and rainmakers, they’ve just opened offices in SF and Nashville, and this morning they just announced that they acquired MoffettNathanson, the most well regarded tmt equity research boutique. I don’t think any other firm mentioned on this thread has made as many significant growth moves as SVBL has in 2021…
SVB Leerink - already mentioned in this thread, but they've built up their IB like crazy over the past year. They've been poaching seniors like crazy, built out an entire new Tech group, and this year has just been the beginning of their explosion in growth.
GS - They've been focused on growing their advisory arm for some time now, and they intend on increasing annual advisory revenues by like $500M through setting up regional coverage offices.
Jefferies - They've gone from a T1.5 MM to having more IB revenue than DB and UBS over the past decade, and they show no signs of slowing down. They've been poaching like crazy over the past few years.
Guggenheim - Their MM division has been growing like crazy over the past couple of years. Heard the Chicago office is already up to 40-50 bankers while ATL is around 20 now.
Surprised to see Jefferies mentioned so late in the thread. Agree that their growth has been pretty wild. They've gone from what was a pretty crappy bank besides HC and Energy to an all-around "mini-BB" that's competing against the BBs now. They'll live and die on their IB division, so I don't see their growth slowing any time.
Also surprised that JPM wasn't mentioned. JPM's done a great job leveraging their BS to win over clients and relationships from other banks. They've also done a great job creating synergies between their IB, CB, and PWM, and have really established themselves as a one-stop-shop for MM clients through their regional IB practice.
How do you create synergies between ib and Pwm?
For GS are you talking about MM deals or regional offices to cover large deals?
Rothschild in USA. Opened 2 new offices here
Agreed, growth in NA has been high past few years.
Where are the new offices?
Stamford CT (seniors only) and Boston (seniors only for now)
also running out of office space in nyc if that means anything
Definitely RBC, they're #1 on global league tables for both M&A and SPAC in fees AND volume when you adjust it to only European and Canadian deals between 170MM to 472MM excluding TMT and Healthcare with an overweighting towards Canadian M&A and adjusting fees for per target school capita and discount FX rates.
That's how it be sometimes.
Truist — definitely becoming more well-known outside of the South
Said nobody ever
100% agree with you about Truist. They’re starting to make a name for themselves, but it’s still early.
Id argue a good part of Jefferies recent success is due to pitching inflated valuations. That strategy won’t keep working in the long run
Not in IB but I've heard incredible things about Tobin & Co. Many refer to them as the Louisiana Tech of EBs
Any one that works there or even thinks about working there must be a cuck, a cock and ball torture enthusiast, and a diaper fetishist.
Thoughts on UMMs: RayJay, Cowen and Piper?
Piper has made a lot of acquisitions lately and it’s Market cap has doubled in the last couple years. Has really become a full service shop. This was before the recent market uptick as well.
Is Wells Fargo growing? Any specific groups?
if WF's IB grows with the market cap issued by SEC, then it has to cut down other parts of its own business to make space for ib, so no
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Citi is most definitely increasing headcount... not as much as these MM banks that are doubling headcount but at a very healthy pace. Citi is crushing it this year.
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Think you mean GS Cross Markets
In Europe, Berenberg is quite strong for ECM and Equity Research. Not sure what the situation is like in the states tho.
Jefferies has been explosive past couple years. They were a middling bank 5 years ago. They compete with EB/BBs in nearly every vertical now and have a top of the street leveraged loan underwriting business. #8 in global IB revenue YTD. Growth should continue with tons of poached seniors from all over.
a big thank you again to all the analyst 1, interns, prospects and students commenting. please keep them coming.
rest assured, i am reading all of your comments and appreciate your insights.
edit: why am i getting downvoted? i'm being serious.
I have been following your comments, and you have absolutely no right to trash on analyst 1s. They know 10x more than you. You have asked some extremely dumb questions on this forum and are clearly an extreme prospect that doesn't "get it". Apologies for being brash, but seriously man, age and experience is not the only determinant of professional competence.
but i'm being serious. i appreciate the comments
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William Blair
Brown Gibbons Lang
Evercore's been the fastest growing and also by scale
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LionTree hands down
Fr, TMT boutiques are fucking rn
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Solomon Partners has added two new offices in the past year (Lauderdale & Chicago) and has been poaching bankers from top MMs and EBs.
Every investment bank grew last year
thoughts on nomura?
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Very well, like most
B. Riley! I know they have expanded exponentially over the past year or 2 and would think it would continue to do so.
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Still an intern, but from what I've seen I agree with the above, especially with SVB Leerink, Jefferies, and LionTree
DA Davidson has also been growing and the IB headcount has doubled in the past two years and have been hiring for every position, also acquired a small fintech investment bank in NY and growing their tech practice
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