JPM Public Finance S&T

Based on the most helpful WSO content, here's what you need to know:

JPM Public Finance S&T Team

• Unfortunately, there isn't specific information about JPM Public Finance S&T in the provided knowledge base. You might want to explore WSO forums or other finance-specific resources for detailed insights.

Exiting in Municipals at an Asset Management Firm

• Municipal Strategies: Active management is likely to remain significant in municipal strategies due to tax advantages and other factors.
• Firms to Consider: BlackRock and T. Rowe Price are notable firms in this space. They are considered Tier 1 asset managers, which generally offer better unit economics and compensation, though performance is a key factor.
• Liquidity Focus: Be cautious about firms heavily focused on providing liquidity solutions, as this can be challenging in a low-rate environment. For example, Federated is noted for its emphasis on liquidity solutions, which might be tough in the coming years.

Key Considerations

• Prestige and Exit Opportunities: Tier 1 asset managers like BlackRock and T. Rowe Price are prestigious and offer better exit opportunities compared to Tier 3 managers.
• Industry Trends: The asset management industry is seeing consolidation, with more active money flowing towards large asset managers or specialized boutiques. Medium-sized firms are getting squeezed out or acquired.

For more detailed advice, you might want to check out specific threads on WSO or consult with professionals in the field.

Sources: T1 vs T3 asset managers, https://www.wallstreetoasis.com/forum/asset-management/will-asset-management-industry-just-wither-away?customgpt=1, Asset Management exit options vs Investment Banking, Will asset management industry just wither away?, Moving from Asset Management into IB / PE