Chi BBs Advice - GS/BAML/MS?
I'm a rising sophomore at a regional target (think Michigan, Northwestern, Notre Dame). Looking to recruit next year for Chicago BBs/EBs. Can anyone provide any color on GS/BAML/MS/JPM/Citi? I've looked at previous forums and there's nothing recent. Any notorious shops (sweatshops, no execution or whatever) I should approach with caution?
I think JPM Chicago is all sourcing, no deal execution (not 100% sure but ask around if you can). Have a buddy at GS Chicago, pretty strong group from what I hear. Also from what I know about Chicago IBD, some groups are sweatshops and some groups are not. It really depends on the group and the MDs. I would also look into MM shops as well, there are really strong MM banks in Chicago (Baird, Blair, Lincoln to name a few).
^ Chicago has good placement in PE with the good-best mm shops. Although execution, those BB should place well also
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Loop Capital is also a good Chicago option.
Citi Chicago seems like a sweatshop, purely based on my interview experience years ago and a friend of mine who currently works there.
Moelis and Lazard have good execution M&A offices in Chicago. Evercore too, but relatively new.
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Credit Suisse and MS Chicago are imploding. CS lost 4 MD's in the past 2 years and MS just rescinded some FT analyst offers for recent graduates. JPM is very strong, has Ford, John Deere, Harley Davidson as clients among many others. One of the top automotive groups in the country probably, and they also cover industrials. Barclays office has a bunch of U Mich guys, pretty sure they cover TMT and FIG. All BB's in Chicago have strong execution (though each bank's office size varies) except for BAML, which is predominately sourcing, or their analysts get staffed on NY deals and do the grunt work. Lazard has a pretty big head count and Moelis is strong, though heavy on Telecom which is kinda boring. Rothschild opened an office last year after having a GS guy come over to head the office and Evercore opened last year after hiring an MD from the Barclays Chicago office. GS is prolly the strongest office in Chicago though, which doesn't come as a surprise
Thank you. This will be useful for those MBA's interviewing this fall for internships in 2019.
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I think GS poached a few MDs from the places you mentioned above. Did a bit of recruiting for Chicago, can confirm that Evercore and Perella are expanding into Chicago.
Anyone know anything about BAML Chi? Is it really just pitching?
Is BAML Chicago not as good as BAML NY and how would you compare BAML Palo Alto and LA to the above two?
Not talked about much but JPM also has an extremely lean consumer & retail coverage team in Chicago. Deal flow is supposedly strong and I think the vertical is food/beverage. Someone correct me if I'm wrong on this though.
JPM Chi has a small C&R team (an associate and an MD I think) but they don’t hire anyone for this team anymore. From what I have heard most of the group was moved back to NYC. The Chicago office only hires for industrials.
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