BAML vs Lazard vs Centerview (Tech)

Wanted to see what the current perspective is on BAML vs Lazard vs Centerview tech coverage teams, specifically in the Bay Area. How do BAML Palo Alto, Centerview Palo Alto and Lazard in SF line up with a particular emphasis on exit opportunities?

24 Comments
 

Could you elaborate on what exactly makes the culture rough? Is it just the hours or the culture itself

 

LAZ = CTW > BAML but honestly cannot go wrong with any of them for west coast exits. 

 

What deals has Laz done this year in Tech? It seems like BAML has had really strong deal flow within tech this year with deals such as Just Eat Takeaway

 

I’m confused here. I work in tech banking in SF and have never seen Lazard on a deal, other than Google. A few guys I know that worked there joke about being Google’s outsourced Corp dev team. That’s not a bad thing, but they don’t do a ton of deals if that’s what you want. Lazard SF is much different than Lazard NY.

If you’re going for a boutique experience, Centerview has a great tech M&A practice. I see them involved more than any of the other boutiques, other than Qatalyst out here.

BAML is a different experience given you do multiple products. They’ve had a really good year in tech M&A and were on a lot of IPOs (although GS and MS usually gets lead left on these IPOs).

 

Thanks. Seen you before. Appreciate your comments. You always have helpful comments about SF tech banking scene.

 

Burner account but Laz Tech SF doesn't come up as a topic of conversation very often (ever?) so posting for the sake of setting the record straight. Can't speak to Centerview or BofA sorry

  • Departing SF analyst class of 4 this year went to Silver Lake, Thoma, Siris and growth equity
  • No separation of coverage and execution but there is a soft separation of large cap strategic vs. sponsor-focused sellside teams
  • Publicly searchable deals either in press releases or on Lazard website / earnings announcements will point you to a ton of deals in last 3 years for Google, Intel, IBM, VMWare and a couple others on the large cap side
  • Other half of tech business does 8-10 sponsor sellsides or recaps per year in the $1-3bn range, mostly software
  • 25 bankers or so in SF, maybe 15 in Boston
  • Culture was great tbh but realize people still think of the old sweatshop reputation. Hard to shed but not true in most groups
 

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