11/8/13

I used the search function, but a lot of threads are outdated, like pre-recession shit.

Anyway, what are the TOP groups at Credit Suisse in NYC only?

Is their TMT group in NYC any good? M&A? I know Sponsors is one of their top groups, but what else?

Comments (142)

11/8/13

Pretty sure you can use the search function and the posts are recent.

Industrials and HC are really good teams. TMT and C&R not what they used to be. Ones to avoid are probably FIG and RE

Float like a butterfly, sting like the bee.

Investment Banking Interview Course

11/8/13

HC is good. I've met a couple analysts and have been impressed. Sharp guys in M&A. Bright guys in the SF TMT office, dunno about NYC.

Shooter

5/26/14

.

11/8/13

Their Sponsors group used to be the best on the street but now it's more like #3 overall behind JPM and DB (imo). M&A, like Sponsors, has been good historically but isn't that hot right now. Either way - stick with these two and Industrials at CS NY. Otherwise you're going to get mediocre deal flow.

5/26/14

orangebull:

Their Sponsors group used to be the best on the street but now it's more like #3 overall behind JPM and DB (imo). M&A, like Sponsors, has been good historically but isn't that hot right now. Either way - stick with these two and Industrials at CS NY. Otherwise you're going to get mediocre deal flow.

Dunno if Energy/Oil & Gas/Natural Resources/whatever CS calls it is run out of NY, but it's #1/#2 right now, and their Houston office is excellent. Healthcare is very solid, though the hours are apparently terrible. Again, don't know about the NY team.

If you're doing Sponsors at CS, I think you'd want to be in their LA office.

11/9/13

orangebull:

Their Sponsors group used to be the best on the street but now it's more like #3 overall behind JPM and DB (imo). M&A, like Sponsors, has been good historically but isn't that hot right now. Either way - stick with these two and Industrials at CS NY. Otherwise you're going to get mediocre deal flow.


Lol DB? Are you serious?
11/11/13

Sponsors and M&A are the best groups in NYC. TMT in NYC is mainly MT, with maybe some East Coast tech coverage, but still a pretty good group. HC group sucks, almost all the HC deals are in the biopharma/spec pharma verticals, which is done out of SF; NYC HC group does almost nothing.

11/11/13

Since when does CS HC group do almost nothing? I've seen their transaction list and it is VERY impressive. They mostly do M&A too and less CM work. Exits are good too- I've seen people go to top upper MM firms like Lindsay Goldberg and H&F

Float like a butterfly, sting like the bee.

12/9/13

Snyone have any thoughts or opiniong on CS Global Energy for NY? What are the exits like there?

12/10/13

I have silver bananas for anyone who can provide some insight on my question

12/11/13

Anyone know about the Power & Renewables group?

1/11/14

Second that - considering Sponsors (NYC or LA - is one better than another?), M&A, Power & Renewables, and SF Tech (how do they stack up against Goldman/MS - they are purportedly in consideration to lead Alibaba. com and Box's IPOs, and they also co-led MKTO and some other big IPOs and M&A deals last year). Any tips appreciated.

Long V, MA, AXP, DOGE.

1/11/14

Healthcare strongest right now; TMT, FIG and M&A have all gone downhill over past couple years.

Sponsors still strong; please don't confuse LevFin (whoever said DB is better) with Sponsors.

1/12/14

Could you expand on this?

I know multiple people at CS M&A, and they told me that they do all the modeling for CS's M&A transactions. Shouldn't M&A by default have the strongest experience?

1/14/14

kidflash:

Could you expand on this?

I know multiple people at CS M&A, and they told me that they do all the modeling for CS's M&A transactions. Shouldn't M&A by default have the strongest experience?

CS M&A does most of the modeling, but some groups do all their modeling in house. I know of 2 specifically that do so and those groups are both sweatshops as a result.

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.

1/15/14

kidflash:

Could you expand on this?

I know multiple people at CS M&A, and they told me that they do all the modeling for CS's M&A transactions. Shouldn't M&A by default have the strongest experience?

Your logic is flawed. In any case I was responding to the question which concerns quality of the group, not quality of the experience for an analyst.

9/19/14

Met with analysts from CS Financial Sponsors and CS Hedge Fund IB group (yes, a vertical within financial sponsors) and they were very fond of their experience thus far. Great deal flow, great culture. And if you look at league tables, CS Fin Sponsors is as good as it gets.

2/4/15

I've heard Sponsors is the strongest group, and there are differences between offices. NY and LA are the only ones worth considering, and they don't work together much. LA does full execution on west coast, and do everything for all west coast shops (S.F. PE included) and places very well. NY does east coast, and work with more national PE shops. Honestly can't go wrong with either, but if you're thinking sponsors and want to go to PE, LA has a much better ratio.

2/4/15

I am interested in finding out the top five groups at Merrill? No league table rankings. Purely based on deal flows and prestige.

2/4/15

Their tech is also really good. They led the underwriting of the google IPO if I'm not mistaken.

2/4/15
wordup:

They led the underwriting of the google IPO if I'm not mistaken.

I might be wrong, but I think morgan led the google IPO

2/4/15

mogan did it

  • justanotherbanker
  •  2/4/15

Morgan Stanley was on the left, Credit Suisse was on the right. I've seen the dealtoy.

Credit Suisse still has a strong tech group but the glory days of Quattrone & co are over. Since people seem to be interested in the MS/CS split on the GOOG IPO, it would be useful to note that there is probably a lot of overlap between CS and MS tech bankers, as Quattrone was originally an MS tech banker.

2/4/15

Can someone take on CS Energy? What is the deal there? Thanks

2/4/15

Great energy group, one of the T5 in the industry for sure..

Does anybody know where I can find these league tables?

2/4/15

i am very interested if someone could please elaborate that has knowledge of the groups.

Possibly?
1. Sponsors
2. M&A
3. Energy
4. Industrials
5. ???...

2/4/15

i am very interested if someone could please elaborate that has knowledge of the groups.

Possibly?
1. Sponsors
2. M&A
3. Energy
4. Industrials
5. ???...

2/4/15

CS Sponsors, Lat America, tech & Energy are more like top 2 groups on the street.

Besides that other strong groups are Industrials (top on the street in Aerospace/Defense and Paper/Packaging), M&A and Lev Fin. Not too sure about M&T, Healthcare, Consumer/retail and others.

2/4/15

Tech is still better than Energy at CS, even post-Quattrone. CS Energy can't hold a candle to many of the top Energy groups on the Street like LEH, GS, MS, etc. There are those among us who don't even consider CS a bulge anymore.

2/4/15

Hahahaha somebody works at CS! If we took your word for it, they'd have more top groups than Goldman! The only top flight group at CS is Sponsors, and this has been discussed on this board ad nauseam. The rest simply wallow in mediocrity. Now, if you're talking about the '80's and '90's, then yes CSFB used to be a powerhouse, but those days are but are but a vestigial memory now as CS has fallen woefully behind much of the bulge bracket.

2/4/15
wildwestderivative:

Hahahaha somebody works at CS! If we took your word for it, they'd have more top groups than Goldman! The only top flight group at CS is Sponsors, and this has been discussed on this board ad nauseam. The rest simply wallow in mediocrity. Now, if you're talking about the '80's and '90's, then yes CSFB used to be a powerhouse, but those days are but are but a vestigial memory now as CS has fallen woefully behind much of the bulge bracket.

Uhm, pay more attention to how the OP phrased his question. He is not asking which groups at CS are top of the street groups. He is asking, out of all the groups at CS, which would you rank as the top 5 within the company.

You see, even if we were talking about a middle market bank that ranks 20th in terms of deal flow for every one of their groups, you can still rank the groups within the bank and compile a list of top 5 groups within the bank.

And to the person who saw the google deal toy, what was it (curiosity)? Was it just their logo?

2/4/15

On what basis do you make this statement? Are you an expert in BB rankings?

  • justanotherbanker
  •  2/4/15

It was a huge, framed picture of Morgan Stanley's NY office with "Congratulations to Google on its IPO" on the ticker board and then the GOOG, MS, and CS logos and the deal summary.

2/4/15

A buddy of mine worked at csfb and he said their energy group is definitely top of the street. Can someone else confirm that? It would be great if I can get a view from someone in the energy space?

2/4/15

Of course a CS person would say that their group is the best. The reality is that the only "top of the street" (if you could ever really say such a thing) group at CS is their Sponsors group. The energy group at Lehman is widely recognized as the best in the energy space, closely followed by GS and MS. CS Energy is most assuredly not the top energy group on the street, and the only people who would tell you that are probably from CS.

2/4/15

LOL Who the hell said CS Energy is tops on the street. That's absurd, everyone who has worked in Energy knows Lehman has the best group. CS isn't even a contender for the top spot.

2/4/15

CS tech though has been and is regularly neck-and-neck for top of the Street, even post Quatrone; run an extremely lively M&A (distinct from the M&A dept) and IPO practice. GS and MS are the only other contenders, MS doing similar good regular business and GS getting the edge through some infrequent, massive deals. MS and CS tech IPOs do pretty well post-offering, GS ones tend to be quite a bit more scatter-shot (though not as bad as, let's say, Citi and their miserable stinkers).

As for other CS groups mentioned by zardari:
M&T, not sure. Definitely doesn't touch GS's TMT
Healthcare, not particularly good, if only because I hear the culture is utterly demoralizing
Consumer/retail, quite poor. Lehman bought out the formerly very powerful CS group a few years back, so they're rebuilding
FIG, no clue

Energy definitely has to go to Lehman, no doubt.

2/4/15

What is the good word on MT @ CS? safe to call it #3 on the street??

2/4/15

Energy- Leh is definitely top, CS, UBS & GS are next in line (probably not in any particular order).

2/4/15

LEH, GS, and MS are head and shoulders above CS in Energy, and even UBS is running a better energy business these days. CS Energy is middle of the pack at best, I love when people go around telling everyone that their mediocre group is the best on the street.

2/4/15

Does CS run most of its tech banking out of ny or sf? ill be interviewing on the phone this week with the tech office in san fran

2/4/15

Tech office in SF is very strong, you'll get a good experience there.

Investment Banking Interview Course

2/4/15

can you use the search function?

2/4/15

Sponsors, M&A, tech. and as pointed out: SEARCH function

"too good to be true"

See my WSO Blog

2/4/15

I've seen 20 threads in the past week about top groups at CS

2/4/15

CS is a great bank, definitely one with a lot of momentum in IBD. Top group is sponsors, by far. M&A and tech are also great.

2/4/15

If you're an analyst, then you've been placed already - so don't worry too much about best group, rather focus on your own group...

2/4/15

What's your guys' take on CS DCM?? reputation? dealflow? I know JPM is pretty much at the top, but still curious.

2/4/15

how does CS' TMT in NY compare to other banks? Should I be shooting for fin sponsors/m&a/lev fin/fig or is TMT a legitimate alternative?

2/4/15

if anyone's also considering S+T i'd recommend fixed income vs. equities since there's more margin in the space... go for securitized products / asset finance and credit

who is john galt?

2/4/15

Lol recommending fixed income at CS

2/4/15

M&A group, several exit opps into PE

2/4/15

Sponsors, M&A and HC are all good...sponsors is probably best on the street

2/4/15

IBD CS is pretty fire. Go for M&A though, best exit opps. Sponsors tends to be loooooong term hiring at the moment

2/4/15

When people say "best on the street" how do you quantify this? So far I've heard 4 different banks having the best group in a field.

2/4/15

You don't. Didn't you know there are 7 banks that are all top 3?

"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."

2/4/15

CountryUnderdog:

You don't. Didn't you know there are 7 banks that are all top 3?

CountryUnderdog:

Or, you do it by only including deals between 500mm and 2bn, excluding transactions where the targets CFO has red hair

Lol yeah I honestly look at M&A fee tables and check recent deals by the groups. If there are good fees generated and some big recent deals, I would argue its a good group. "Best" is kind of hard and silly to say in a sponsor situation especially.

Best Response
2/4/15

Or, you do it by only including deals between 500mm and 2bn, excluding transactions where the targets CFO has red hair

"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."

2/4/15

People shit on DCM here, which is irritating, but CS' ABS group is very strong, especially in the esoteric space.

"There are three ways to make a living in this business: be first, be smarter, or cheat."

2/4/15

M&A group is very good...

2/4/15

Agree M&A is one of the better groups at CS but I know their M&A had some major restructuring recently (lots of layoffs) after avoiding layoffs for a few years. You'll definitely learn the most in M&A.

Other good groups are industrials and LatAm. CS does more LatAm deals than any other bulge but its not a group to take if you are not from Brazil or other LatAm country .

Healthcare and real estate at CS are very weak and consumer/retail and FIG are so so. TMT (they combined tech and MT few years ago) used to be solid but not any more.

I think the power group in NY is pretty good and so is lev fin.

2/4/15

M&A, Sponsors, Industrials. FIG, TMT, used to be great but not sure at the moment. Healthcare actually doing well this year..

2/4/15

I agree that M&A has gone through a lot of cuts but CS is still near top of the Street. The top talent is still there. For someone joining as an analyst, I don't think all the noise around it matters and it's still probably one of the top 2 or 3 group to join there.

Tech and FIG have seen a lot of upheaval in the ranks recently and have missed out on some big deals. Energy has been doing very well.

2/4/15

BUMP. Can somebody also comments on the best IBD groups at CS? How's TMT, FIG, M&A?

You crave what you are not.
Dude, your perspective on life sucks.

2/4/15

BUMP

2/4/15

Heard M&A isn't doing too well from an internal contact

2/4/15

bump

2/4/15

bump. another thread talked about the same topic. search

2/4/15

bump

2/4/15

Sponsors and M&A
TMT, Healthcare
and Industrials has been doing better

Though the first three are by far the most sought after groups.

2/4/15

Double Post.

2/4/15

FS, M & A, TMT & HC are the best groups in terms of exits to PE at CS.

2/4/15

Does the FS group at CS do most of the modeling for PE clients? I heard LevFin handled most of that

2/4/15

I can confirm that the FS group does all the modeling for PE clients.

2/4/15

Thanks- appreciate the help

2/4/15

Sponsors/M&A/TMT.. All great

2/4/15

i hear CS M&A isn't what it used to be. a lot of their top analysts were raided by elite boutiques and the bank is left with mediocre incoming analysts. in fact CS as a whole has been having a rough go recently. if you can get looks at GS, MS, JPM or BAML IB go there. european banks are sucking wind at the moment.

2/4/15

CS top groups in no particular order are Sponsors, M & A, HC & Tech..

2/4/15

Their Energy group is top notch, if a pretty brutal place to work. Consistently amongst the top players in the space.

2/4/15

Like all BBs, M&A is a great place to be.

Sponsors is historically CS's strongest group.

TMT and healthcare have great people/cultures but not sure about deal flow.

"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."

2/4/15

how is real estate?

2/4/15

LevFin has a good reputation as well.

2/4/15

Don't know which group is "Best", but have 2 friends from CS' FS that went to JC Flowers' funds. I don't know how much this will help.

2/4/15

Traditionally, Energy and Financial Sponsors for sure.

I believe M&A is pretty high up their relative to its other groups.

2/4/15

In this market, would Financial Sponsors still rank so highly?

2/4/15

Also, how would you rank their top groups? In what order?

2/4/15

Sponsors, M&A, Energy, Tech, GIS are all very good.

2/4/15

GIS is now two groups- basic materials (like chemicals, metals/mining, lumber, etc) and the other group's name is escaping me but it is basically general industries like aerospace, automotive, etc.

I'd say historically sponsors, M&A, energy, and tech are the best groups, but if you do tech do not do it in NYC (that's in general as well, excepting GS TMT).

2/4/15

Do you know what type of stuff the sponsors group is involved in? There aren't any mega LBO's going on so are they focusing on smaller deals, restructurings, Equity deals?

2/4/15

A lot of work on restructuring, managing issues for portfolio companies, working on exchange offers, etc. etc. There is also a good amount of pitching involving equity investments rather than outright buyouts, but not much execution there. Still things going on, but nowhere near as busy as they were from 05-07. Group has good relationships with the megafunds, particularly Blackstone.

2/4/15

So, in terms of being the best positioned after two years at the firm (and my best positioned I mean in regard to moving to PE, Hedge Fund, Graduate School etc), you would still rank sponsors first at CS (over M&A and energy)?

2/4/15

bump

2/4/15

If you want to go into PE, Sponsors or M&A will both be great. M&A will get more dealflow but Sponsors you will get a lot more contact with the megafund PE shops. If you want to go coverage, energy is easily the best coverage group in NY, and the culture is great from all I have heard. Any three of those would get you any/all the opportunities you could ask for.

Honestly, it comes down to fit. The better you fit in with a group, the better you are going to end up doing, and the more your senior people will push for you when headhunters and their PE shop counterparts ask for recommendations.

  •  2/4/15

healthcare and FIG are top groups at CS

2/4/15

I thought that HC group was sub-par at CS. The only reason they were given the HCA fairness deal was because they along with MS were one of the few banks that had no prior relationships with the company. Their M&A group basically executed the entire deal anyways. Do you have any previous exposure to the HC group?

2/4/15

Industrial in Chicago is strong, probably just a notch below GS and maybe UBS. They just worked on the Aramark LBO. Can't speak for their consumer group out in Chicago, but I know GS is dominating. ECM and their LA office are top notch, as well.

  •  2/4/15

what do you mean by Sponsors?

2/4/15

I've heard FIG is definitely up there.

2/4/15

Tech group out in bay area is really good.

2/4/15

Ive heard that the tech group in bay area used to be tops along with GS. However, theyve really dropped due to turnover at higher levels. From what I hear, GS, MS, and Lehman are better than CS. Some even mention that DB is better.

2/4/15

Ive heard that the tech group in bay area used to be tops along with GS. However, theyve really dropped due to turnover at higher levels. From what I hear, GS, MS, and Lehman are better than CS. Some even mention that DB is better.

2/4/15

anyone have any comments on tech group in bay area after recent turnover?

2/4/15

Energy group in Houston is one of the best on the Street.

2/4/15

Well, in NYC, Media & telecom is really good as is technology. The energy group is nyc is also really good.

2/4/15

relative to JPM, Citi, UBS, and Lehman?

2/4/15
scotttwibell:

Other than CS LA and Sponsors

When you say CS LA you mean Latin American deals, right? Not Los Angeles office.

2/4/15

no, Los Angeles office

2/4/15

speaking of latin america, however, CS is pretty much the dominant franchise in central/south america as far as IB goes

2/4/15

Well considering that this board thinks that the LA office, Sponsors, Tech, and Energy are either 1,2,or 3 in reankings , why isn't the bank fully recognized and recovered from the quattrone years?

I mean most people wouldn't even consider CS in the next category of top BBs after GS/MS. It's usually considered below Lehman/JPM when Lehman has only done well for the past year and half.

2/4/15

http://www.ibankingoasis.com/node/1215

scott, do you work at CS? your name sounds familiar...

2/4/15

but have lot of friends who work there and can't seem to understand why CS is dogged so much by everyone, yet quite strong in a lot of different areas within IBD.

2/4/15

how are UBS and CS L.A. offices so big? San Francisco I can understand, but L.A.? Is it run by the leftover guys from Milken's Drexel Burnham in the 80's?

2/4/15

the offices are ex-DLJ guys and mix of older CS guys. CS was one of the top banks in the 90's and DLJ was probably the best...as good as or just a notch below GS. The head of UBS LA and Investment Bank in US, Ken Moellis is a DLJ guy.

I know that CS and UBS have approxmiately 60-65 bankers and GS is fairly big also with 40 bankers.

2/4/15

I think the reason is because it's so easy to compare CS to UBS as an organization, since they are both HQ'ed in Switzerland, have giant PWM operations in Europe, and hover around each other in the league tables (#4-8 in any given quarter). If you compare them as a firm, these past few years UBS has garnered a rep as being an extremely lean bank that's hungry and on the rise. CS is seen as bloated (i.e. several hiring freezes in the past few years and a recent initiative to curb spending and costs).

But if you look at individual groups, CS is doing extremely well. #1 in ECM globally, and their sponsors/lev fin groups are top notch, as well. Look at them on a regional basis: top 3 shop in LA and Chicago. So I guess it all comes down to who is perceived to have the most momentum. As UBS' operations in general are quite smaller than almost all the BB's, they are seen as rising faster.

EDIT: Also consider that similar firms are constantly being gauged against one another (i.e. Citi vs. JPM, MS vs. GS, all the Euro banks, etc.).

2/4/15

do you guys think that CS is taking the right steps to reduce its "bloat" factor? I read an article a few weeks ago about how it is trying to reduce discretionary expenses and become more cost efficent?

2/4/15
2/4/15

UBS is very very lean. Deal flow / banker is pretty phenomenal comparatively. CS has a lot of high powered groups and the DLJ sponsors bankers are excellent.

To answer the questions about UBS and CS LA - they have more around 70-75 bankers each and Yes they are very much the remnants of the DLJ LA office and DBL from the 80's.

2/4/15

I personally don't think a hiring freeze is the correct solution for CS. In a business that is so relationship oriented, human capital is the most important factor of all. If the company is bloated, that means there has to be non-performers. Get rid of them but continue to hire new talent.

UBS understood this when they hired Moelis and gaurunteed him a multi-million dollar package over multiple years. They recognized talent and weren't afraid to pay up for it (and I think they recognized the fallout Moelis would produce among his underlings at DLJ from CS).

That being said, I think most of the problem with excess fat is in NYC, not the satellite offices.

2/4/15

certain groups in NY are totally lean like UBS whereas other IBD groups (FIG,M&A to name a few) are very heavily staffedfrom what I've heard.....

2/4/15

I've heard that they do like more revenues than Evercore out of 75 people in that office. That equates to some 30% or more of UBS IBD's revenues.

Back when it was DLJ LA - Tony James (Pres of Blackstone now, but formerly used to run DLJ) has a famous quote about DLJ LA having larger revenues than all of Paine Webber putting that in the 400mm range). Imagine what that number would be for hte current UBS LA office in today's economy (could easily be 500+).

I actualy heard this numerous times going through the recruiting process with UBS LA. I also heard it during the goldman recruiting process with some analysts that spent a summer at UBS LA.

2/4/15

That's pretty badass.

I just spoke to an associate in CS Chicago office (which, being a satellite, is surprisingly lean at about 35-40 bankers). He said the office is approaching 300mm in revenue this year...

2/4/15

to sound good? 300mm/40 = 7.5mm per banker....is that better ny offices?

2/4/15

Sorry, not 35-40 senior fee-generating bankers, 35-40 bankers total (MD's, VP's, associates, analysts).

2/4/15
2/4/15
2/4/15
2/4/15
2/4/15
2/4/15
6/21/17
10/15/17
Add a Comment