MD leaving to open his own shop and trying to take deals with him
I’ll do my best to keep this concise. My MD is likely about to leave and start his own shop. He has asked me and one other analyst to go with him. I respect him and he has been at this for a while so I see this as a huge opportunity. He is trying to figure out how to take some deals he’s very involved in with him and I believe he will be able to. What he is doing is legal, but seems a little shady to me. I have only been in the business for 3 years and have never been through anything like this, so my question is will this reflect poorly on me and or my reputation down the road if he were to succeed in taking those deals?
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I don't have any personal experience to speak to this, but I don't think it will reflect poorly on you personally, only on him.
Taking deals that are already in progress is really bad faith and I'm pretty surprised someone at that level would do it unless there's a lot of bad blood. CRE is such a close knit industry and reputation does mean a lot.
There is A LOT of bad blood, not a little. In it current state the shop I work in is tiny and very toxic. It’s a family owned business and the family that owns it has burned its rep pretty hard. This is why I feel like my MD is generally ok with taking these deals. Again, I’m concerned with being tied to this company post blowup and having rumors of stealing deals attached even though the owner could never manage or finish the deals on his own.
I mean, sounds like the explanation would be that you left a toxic shop with bad deal flow to work with an MD you're close with.
The fact that the MD is taking the deals is irrelevant to your career and if anyone asked, I would just say that you're not sure what happened but the senior guys came to some agreement.
Can’t imagine someone holding this against a non-producer. Not like you are “stealing” the deals.
So as a clarifier, when you say he’s taking deals with him - are these deals technically locked up by your firm? If so, he can’t really take them. If not, while it’s not exactly going to look great, if he’s not under any form of non-compete, he can technically do it. It won’t reflect poorly on you. It’ll only look bad on him. With that said, there’s also no guarantee that the deals he takes with him get locked up by your new firm. It just adds another firm competing for the deal.
Can I dm you?
Ya.
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