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Continue recruiting. It'll be very difficult to even get LMM PE. You'll have to lateral most likely once you start full time to get PE looks
What (if any) opportunities are there for PE recruiting from BMO? Any exits there?
BMO seems to place well at LMM PE in Chicago.
Why did I get MS? Trying to help this kid. You're better off at one of the MMs than at an international balance sheet bank if you want to do PE I'm not saying that HSBC/Nomura/BNP isn't good. They're brand names that're recognized everywhere. Just not great for PE recruiting
youre pretty dumb buddy, a good nomura analyst will most definitely get looks from LMM. No shit that better banks are better though.
Are you a Nomura intern? If that's true, why do your first years lateral to other banks so frequently. OP should turn down the offer and recruit now while there are more spots
I don't work at nomura, but people lateral because its a weaker bank overall. Not denying that, and Nomura kids will not be going to H&F or Aurelius. They do get looks from headhunters though - you really think LMM funds can be picky enough to only hire EVR/PJT? There are literally more private equity firms in the US than there are first year IB analysts.
Analysts with solid transaction experience even at no-name boutiques can get looks from/hired by LMM PE firms. Saying "it'll be very difficult to get LMM PE" from a global brand bank is just an absurd statement.
I get what you're saying but you're not entirely correct. Yes, lots of analysts from HSBC/Nomura/BNP will lateral to BBs to have better chances at MF/UMM PE. However, your assertion that the analysts that don't lateral barely have LMM PE opportunities is false.
I don't work for any of these banks, but by just doing a quick LinkedIn search I saw people at MM/UMM funds and even a few at MFs. At the end of the day though, the analysts that stay at these banks are going to have to grind to get those better offers. There will obviously not be as many opportunities for them as the people coming from BB/EBs.
I guarantee not MF...
The notion that tier 3 banks don’t get into PE is absurd. Yes its harder and you probably won’t get MF (or extremely rare) and most UMM to be frank but when I was recruiting I saw kids from bmo/bnp/nomura for well respected MM shops. (Coming from EB)
Yes, a lot of kids from these places lateral (banking isn’t rocket science) as after a year its not that hard to move to a BB/EB. But even these “tier 3” banks at the end of the day are some of the top firms in the world and their names are recognized. Will BMO ever hold the same name as even a DB? Hell no, but people still respect it (unless you’re a college kid just looking for prestige).
Analyst in my network from one of those banks lateraled to MF Infra PE a few months ago.
infra is a different animal - these banks are strong in project finance which is more applicable to infra than most corporate coverage
Yup, I’m aware. Since those banks are strong at project finance I imagine it’s one of the more popular groups for placement. Figured WSO should know strong exits are possible from there.
BNP is solid. They're the most established French Bank in the US, and I think they're the largest bank in France. I see people exit to PE and other great exits from BNP all the time.
BNP also has espresso machines, and you get a fuck ton of vacation days.
Culture at BNP is also pretty good compared to other French Banks.
GO for BNP.
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