Comments (142)

Feb 19, 2010

industrials

Feb 19, 2010

how are communications and financial sponsors?

Feb 19, 2010

Go for sponsors and M&A.

Feb 20, 2010

In IB, pretty much everyone chooses M&A as their top choice group. A hidden jewel that often gets overlooked is FEG, or the Financial Entrepreneurs Group (Sponsors). No one chooses the group because of its categorization under "Alternative Assets" and the uncertainty of what "Financial Entrepreneurs" entails. It's a great, very technical group, that does no pitching (huge plus) because sponsors are so sophisticated. If you are strongly technical, try M&A, FEG, or Power and Energy. If you are more fuzzy and liberal-artsy, go with technology.

There are two metrics that will help you choose a great banking group. Inquire about how many associates are analyst promotes. This holistic metric will reveal both the attrition rate and how meritocratic the group is. These former analysts know everything there is to know about the group, so their staying on should be a hugely positive signal to you. The analyst-to-MD ratio will reveal how understaffed the group is. A low ratio (especially a ratio below one) means lots of work, potentially great senior exposure, and a strong chance of getting hired.

Group selection is a bilateral process. The interns rank their top groups, and the groups pick ~20 interns to meet-and-greet on the first day. Afterwards, groups re-rank the entire resume book, and summers rank their top six choices. I believe this year, the class of ~40 all got into their first or second choice group.

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Feb 20, 2010

ibd at citi isn't as strong as it used to be. feg bankers aren't as highly regarded as sponsors bankers would be in other banks. other groups tend to look at them as subpar performers... with that said, this is an internal opinion within citi.

m&a is hands down the most sought-after group.

comms are known as the slave drivers. you get to do your own modeling, but be prepared for ridiculous hours. consumers is pretty much a frat house - don't know too many with excellent exit opps. they did get to work on the dollar general deal though.

industrials is really a toss up. many subgroups under the umbrella. it really depends on which subgroup you get and which associates you get paired up with.

don't know too much about the other groups.

Feb 20, 2010

how does the matching process work? say your top ranked groups are m&a, tech, sponsors, media, and industrials, and NO group picks you as one of their choices. how do you get into a group?

Nov 11, 2010

wrong thread

May 13, 2010

Bump.... any more thoughts on Sponsors or Healthcare?

May 14, 2010
Aces High:

Bump.... any more thoughts on Sponsors or Healthcare?

Sponsors.

May 14, 2010
Aces High:

Bump.... any more thoughts on Sponsors or Healthcare?

wtf... can you just read throuhg the posts? someone already said that they don't have a sponsors team... its called feg there and they do a different line of work than a traditional fs/lf team..

May 14, 2010

I am not sure where you are getting your information from. Nobody said that.....A poster mentioned that the group is called Financial Entrepreneurship Group (Sponsors). I too am interested on hearing any new thoughts about the groups at Citi. There has been a lot of new hires/exits and I am interested in knowing if anything has changed.

May 15, 2010

Citi's FSG is called Alternative Assets. Keep in mind though that their Leveraged Finance Group is in Capital Markets Origination, not the Investment Banking Division.

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Jan 27, 2013

bump. would like to know if anything has changed in terms of group rankings. obviously M&A is their top group, but what other groups follow?

Nov 6, 2013

.

Nov 7, 2013

TMT is rough - long hours and brutal work environment. However, the exit opps are pretty good coming out.
M&A is most sought after - they also have a group-specific training program for analysts which help...
Not too sure about other groups.

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Jan 12, 2014

Bump, I hear their energy & power was the best on the street last year. In terms of transitioning into PE, to the extent that the M&A group is not an option due to it being on the top of everyone's list, is there a possibility to transition into a top PE MF after analyst years in a solid industry group like industrials and power?

"We're not lawyers, we're investment bankers. We just call you for the paperwork. We didn't go to Harvard, we went to Wharton, and we saw you coming a mile away." - Suits

Jan 12, 2014

healthcare is strong

Jan 12, 2014

Citi as a whole works hard.

Do M&A, it's literally heads above the other groups in terms of exit ops. Healthcare wasn't ever that good, I would avoid it unless you love healthcare.

If you can't get M&A, try Comms or Sponsors (FEG).

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Jan 12, 2014

Industrials & Retail used to be among the top groups at Citi NY at one time.

Jan 12, 2014
Jan 12, 2014

their industrials coverage is strong

Jan 12, 2014

There was another thread on this ~1 month back.
FYI @"ValueInvestor888" , Citi split TMT a few backs into Tech and Comms (media & telecom)

Top group M&A. Other than that ,Comms, Industrials, Sponsors, Consumers all have solid exits. This info has been shared many times before on WSO. search to find other recent threads.

HC not historically one of the stronger groups.

"Success means having the courage, the determination, and the will to become the person you believe you were meant to be"

Jan 12, 2014

i heard m&A, TMT, and industrials are the best

Jan 12, 2014

How is Citi's energy group?

Jan 12, 2014

Citi is currently among the top in Houston for energy. CS & Barclays also tend to have pretty good deal flow and decent exit opportunities if that is what you care about.

Jan 12, 2014

M&A is top group

Jan 12, 2014

yeah and it is also very small.

Jan 12, 2014

HR

Jan 12, 2014

Culture and hour are not part of the banking vocabulary.

Jan 12, 2014

retail banking division

Jan 12, 2014

Market-facing, modeling-light product groups that involve market overviews, updating quals and league tables, and monitoring performance.

Jan 12, 2014

The ones with all the 7th year associates and $20K bonuses.

Jan 12, 2014

retail branch banking

Jan 12, 2014

Sponsors man. They're still rebuilding from the downturn but balance sheet access really gives them a great in w/ PE funds.

Jan 12, 2014

Citi Sponsors group doesn't do any real modeling. Majority of your deal experience will be debt financing... And if you are interested in that, good for you. You won't learn much.

Jan 12, 2014

^ what BS. Sponsors at Citi definitely does modeling (now whether the deal actually closes or not is another question lol).

Sponsors does have a pretty good balance and they work with all the megafunds, but placement has fallen off a cliff since a few years ago when they sent a class to Warburg, Carlyle (mezz) and Kelso.

Jan 12, 2014

To follow up, they do modeling, but again, they're getting on deals because they provide debt financing. So yes you'll do some debt financing modeling, but you'll also model the LBO.

Jan 12, 2014

^ I bet you work/worked at Citi Sponsors and you are keep highlighting their placement from a few years ago. But to be honest, it's not that impressive... And I guess I don't even need to talk about recent placements.

Jan 12, 2014

Well that's what I'm saying. Someone else in another thread said they sent kids to megafunds. That's false. Just want kids to know what they're getting into.

Jan 12, 2014
can_lah:

Well that's what I'm saying. Someone else in another thread said they sent kids to megafunds. That's false. Just want kids to know what they're getting into.

I know several kids from Citi who have gone to mega funds? Including many from this year's class? Or are you specifically referring to sponsors?

I'm just looking for a group with decent hours and people, I'm not fussed about exit opps as I want to stay in banking so the culture is much more important to me.

Jan 12, 2014

dig your username... chuck is a sweet show... sarah is smokin hott

Jan 12, 2014

Was referring to sponsors, not Citi as a whole.

If you want to stay in banking long-term, then sure, take a look at Sponsors.

Jan 12, 2014

If you want decent hours work in a product group, but not M&A. ECM/DCM are generally pretty lax at almost every bank.

Most of the people you work with in other groups will secretly (and not so secretly) make fun of you and your shitty group and joke of a banking career... but thats really just a bunch of BS, go with whats important to you.

Jan 12, 2014

Can state for a fact (do not work for Citi or their sponsors group) that you do a ton of modeling. I can't speak to current PE placement but you won't be at a major disadvantage. Please take everything you read on these threads with a huge grain of salt.

Anyone of these jokers above making extreme statements either: a) are undergrads like you pretending to be bankers on a website. b) sad, delusional people who probably were dinged from Citi and work at some shitty no name boutique in Ohio. Talking shit to you specifically dbdbdip, not because I give two fucks about someone's opinion about a group at Citi but mainly because you're the type of person I'd pick a fight with at a bar, faggot.

Jan 12, 2014
Stringer Bell:

Can state for a fact (do not work for Citi or their sponsors group) that you do a ton of modeling. I can't speak to current PE placement but you won't be at a major disadvantage. Please take everything you read on these threads with a huge grain of salt.

Anyone of these jokers above making extreme statements either: a) are undergrads like you pretending to be bankers on a website. b) sad, delusional people who probably were dinged from Citi and work at some shitty no name boutique in Ohio. Talking shit to you specifically dbdbdip, not because I give two fucks about someone's opinion about a group at Citi but mainly because you're the type of person I'd pick a fight with at a bar, faggot.

haha. sorry man but no you are wrong. i'm neither a student nor a boutique banker. and i'd never pick a fight at a bar because it's just immature and stupid. have fun using your muscle somewhere else if you have any.

Jan 12, 2014

String, you ain't gotta use muscle on the kid to claim a corner.

Jan 12, 2014

if u want good hours go teach 3rd grade public school.

Lazard/Evercore dont give good hours but best exit ops on street.

Jan 12, 2014

M & A, Industrials, Media & Telecom are the best groups at Citi NY as per exit opportunities to PE.

Jan 12, 2014

Thanks!

Jan 12, 2014

Citi has an m&a group that works across sectors

i have heard that consumer and healthcare do a lot of their own m&a. i think it depends on the size of the group and the size of the deal.

Jan 12, 2014

SEO SEO SEO SEO SEO

Jan 12, 2014

FIG does own M&A. As does Real Estate I believe.

Jan 12, 2014

Thank your blog helped me for my upcoming project i will consider your valuable tips.Tanks for guiding me through right path.keep posting

Regards,

jhakasseo

Regards,
jhakasseo

Jan 12, 2014

bump

Jan 12, 2014

M&A, Media and Telecom, Industrials, Consumer. Arguably in that order, although you could find people who would disagree.

"Success means having the courage, the determination, and the will to become the person you believe you were meant to be"

Jan 12, 2014

thanks - can you also share some thoughts on the exit opps?

Jan 12, 2014

I can personally vouch for M & A & Industrials. They have good exit ops to top MM PE. Not sure about the other two.

Jan 12, 2014

my rankings above are based almost entirely on exit ops.

the one group I left out is sponsors. They tend to not do a lot of good execution work, so not ideal in terms of analyst experience (they'll argue otherwise), but their exits can be solid because the MD's go to bat for them.

"Success means having the courage, the determination, and the will to become the person you believe you were meant to be"

Jan 12, 2014

do we know how many analysts from M&A or industrials group eventually land at mega funds (pe) such as KKR, carlyle and etc?

Jan 12, 2014

Two years ago Citi Consumer analysts exit opps were usually good, at least solid. Recently they lost some traction.

Jan 12, 2014

Guys - any thoughts on Citi M&A group vs. other M&A group in BB?

Jan 12, 2014

M&A, Media and Telecom, LatAm best in the region.

Jan 12, 2014

M&A exit opps for megafunds PE compared to other M&A groups such as MS M&A, JPM M&A, and BAML M&A or some other elite boutiques (e.g. Blackstone Advisory, Lazard M&A etc.)?

Jan 12, 2014

M&A is their best group by a wide margin I'd say

Jan 12, 2014

Interested in the analyst level

"I did it for me...I liked it...I was good at it. And I was really... I was alive."

Jan 12, 2014

In terms of culture: CR is strong, FIG depends on sub-group, not sure about RE, and M&A is alright (haven't heard bad things).

Jan 12, 2014
noodlebar_banker:

In terms of culture: CR is strong, FIG depends on sub-group, not sure about RE, and M&A is alright (haven't heard bad things).

C&R was strong in the mid-2000s, but they lost a ton of talent. Has Citi reloaded there?

Jan 12, 2014

M&A, FIG, Energy, Consumer

probably in that order.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

Jan 12, 2014

For the FIG comment, can you elaborate on which subgroups/verts. are better? Also @"bulge4lyf" how did you come up with your ranking?

Any additional commentary is appreciated.

Jan 12, 2014

Bump

Jan 12, 2014

In terms of productivity, M&A, Industrials and believe RE are pretty good. Culture-wise it really depends on group/subgroup. TMT is split between Tech and MT. Both TMT and Healthcare teams get worked, not sure split of pitching vs deals. Re. FIG, the group is split between Banks & Specialty Finance (will call BSF) and Insurance, Asset Management & Financial Media/Technology (will call IAF). BSF is productive especially in SpecFin but culture not the greatest. IAF is so-so productivity but much better culture.

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Jan 12, 2014

Any thoughts?

Jan 12, 2014

i actually don't know much about Citi

BossMode

Jan 12, 2014

i would also like to post announcing i do not know much about Citi

    • 1
Jan 12, 2014

I'd like to post an announcement saying I know a lot about Citi.

Jan 12, 2014

I would like to post an announcement, regarding other people posting announcements, on people posting announcements, announcing that this is stupid.

Jan 12, 2014

buttercup87:

this is a dude's name?!

Jan 12, 2014

^^total mindfu#k right?

BossMode

Jan 12, 2014

m&a

Jan 12, 2014

def not HC

Jan 12, 2014

Industrials, M&A, DCM, LevFin

Jan 12, 2014

Historically for NYC its always been M & A, FS & Industrials.

Jan 12, 2014

new york Citi? ^_^

Jan 12, 2014

Hahahaha

Jan 12, 2014

Consumer/Retail is a sweatshop from what I've seen.

Jan 12, 2014

"Consumer/Retail is a sweatshop from what I've seen."

why do you say that?

Jan 12, 2014

he's hammering hank, he's seen it all

Jan 12, 2014

FIG M&A (apparently separate from FIG), and Financial Entrepreneurs (FEG) AKA Financial Sponsors.

Jan 12, 2014

I thought Citi had a strong Capital Markets Group.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-

Jan 12, 2014

does any one have any more info about current top groups at Citi?

Jan 12, 2014

Industrials is also a strong group, from what I hear.

Jan 12, 2014

Big fagina.

"To Know Me Is To Love Me"-Jebus Price

Jan 12, 2014

Their European TMT group is strong, from what I hear.

Metals & Mining I-Banker

Jan 12, 2014

M&A, FIG, TMT and Industrials

Jan 12, 2014

I agree largely with Bateman. The strongest groups are the ones that can really get the most leverage out of the global balance sheet. The only thing I would contest is the addition of TMT, but that may just be a recent thing.

I've got a friend in Citi's consumer group. She doesn't seem THAT busy.

Jan 12, 2014

I didn't know Citigroup's Industrial Group was strong.

Jan 12, 2014

what exactly is industrials?

Jan 12, 2014

Citi industrials is not strong, I don't know where you heard that.

Jan 12, 2014

so fig and m&a are the only strong groups?

Jan 12, 2014

I heard Communications is pretty good, too.

Jan 12, 2014

Eh, I believe Citi industrials is the largest revenue-producing product/industry group of its investment bank this past year and has the global edge in equity and M&A across the Street. That said, I think they are nowhere near as strong domestically as they are globally, and I don't think there's an incredibly long/strong history of dominance even there. It may just have been a 2006 thing.

Where's your info coming from, Wizard?

Jan 12, 2014

comms is probably best on the street - tied with GS.

Jan 12, 2014

Pretty good list, I would just add Energy (Houston) and Media/Telecom

Jan 12, 2014

I think you mean Shitty Group....

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Jan 12, 2014

The world has changed. And we must change with it.

I'm making it up as I go along.

Jan 12, 2014
Jan 12, 2014

SEO

Jan 12, 2014

the one where u don't get fired.

FIG for dealflow, Healthcare

We're about to enter a Great Depression.
Don't you want a president who's already dressed for it?

I'm making it up as I go along.

Jan 12, 2014

GIG is good there

Jan 12, 2014

consumer health care

Jan 12, 2014

every bank has been good at healthcare lately.... MER claims they are best at it but they really aren't... and when the HCA deal finally misses debt service i'll laugh at MER

Jan 12, 2014

Citi just merged its ibd with corp banking......

Jan 12, 2014

heard its healthcare division is not at all strong from a very reliable source. cornelius, curious to know where did you hear that from?

i know i posted this on another forum, but i have been really curious about Citi's west coast tech m&a group. how strong are they?

Jan 12, 2014
prizedpig:

heard its healthcare division is not at all strong from a very reliable source. cornelius, curious to know where did you hear that from?

i know i posted this on another forum, but i have been really curious about Citi's west coast tech m&a group. how strong are they?

Citi closed their west coast tech office.

Jan 12, 2014

FAG used to be good but large cap buyouts disappearing have dried up dealflow

Jan 12, 2014

FSG sorry...

Jan 12, 2014

"best groups citi" yields 48 threads of which several are directly relevant and many other are very similar

here are three that seemed identical to your question (there are others):
http://www.ibankingoasis.com/node/1800 http://www.ibankingoasis.com/node/2616
http://www.ibankingoasis.com/node/850
And that took me about two minutes to actually scan a few threads and pick out three. Is that really so painful?

Jan 12, 2014

thanks

I can't find any info out on Citi TMT in NY. Does anyone know if that group exists?

thanks again

Jan 12, 2014

I think they call it communications and technology or something like that, not TMT

Jan 12, 2014
wildwestderivative:

I think they call it communications and technology or something like that, not TMT

tmt stands for what again?

Jan 12, 2014
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Jan 12, 2014
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Either you sling crack rock or you got a wicked jump shot

Jan 12, 2014
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