Chicago IBD Offices
Just wondering which offices get the most overall deal flow/activity out of pure curiosity.
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Which banks are you looking at?
Blair, RW Baird, BMO Capital Markets and Lincoln are the firms i can think of
Agree with this. But I would also add in UBS since they do recruit specifically for IB in Chicago. It's only for analyst and not associate so there probably isn't that much going on but that's just a guess.
there's also places like CS and Lazard in Chicago. JPM has some sort of presence too.
i'm interested to hear what people say about this topic. also, what kinds of deals are getting done in Chitown these days? clearly industrials is big, and Edmundo said food and consumer would be a good area (because all of the cheese north of the border)
BAML is also pretty big in Chicago.
What does everyone think of reputations of the Chicago HQ MM firms (Blair, Baird, BMO, Lincoln)? Which offer the most promising exit opportunities, deal flow and compensation?
W. Blair is a very legit bank in certain areas, like ER.
Would you say Blair has greater exit opps than its counterparts?
They can exit well to local PEs I believe. So all in all, whats the landscape look like for the BBs?
Not necessarily Chicago HQs, but banks with offices in Chicago (no particular order / not an exhaustive list)...
BB: + GS, CS, MS, BAML, DB, Citi, JPM, UBS
MM / Boutique: + Baird, Blair, Lincoln, Lazard, Moellis, Greenhill, Macquarie, Houlihan, Morgan Keegan, BMO
Exit opps into Chi PE shops are fairly attractive and accessible. Aside from headhunters, PEAC is a great resource for getting your resume into the hands of said shops.
I've read a lot about the exit opps at BMO being relatively limited due to their lack of presence in the US. Can anyone speak to this? Would Blair give the greatest out of all MM's? I am interested in working in Chicago and would like to be in at a HQ, which is why I am curious.
Have spoken with a few people at BMO Chicago office and can confirm that exit opps are limited. Would say that Blair exit opps are stronger than BMO. Why are you set on working at a HQ office? My experience is that BB analysts have had an easier time placing into PE shops, although definitely have MM friends that are also going into PE.
Dresner Partners is another local boutique i-bank in Chi-town.
Think we are kind of detracting from the actual question of this thread here. Not really asking about exit ops but mainly.... which offices gets the most dealflow around chi-town?
and to dig deeper, which offices get most dealflow from different industries/areas. i know that lazard is big in restructuring in chicago and i guess all their offices. don't know too much else
Surprised no one has posted much information about the bigger players...
Citi has a huge presence in metals & mining as one of their global heads sits in the chicago office. BAML has a large presence in industrials & consumer as well. Barcap has a smaller group in industrials that splits time doing FIG. GS is a sinking ship in Chicago after Byron Trott left. MS does a lot of industrials/auto work in addition to telecom/media. Don't know much about Credit Suisse or Deutsche in Chitown. UBS has a decent sized group. LAZ does a lot of restructuring work in industrials/auto across all verticals. JPM has a large focus on paper packaging.
also interested in this "Think we are kind of detracting from the actual question of this thread here. Not really asking about exit ops but mainly.... which offices gets the most dealflow around chi-town?"
I know BAML's office in Chicago is pretty huge. There's about 75 bankers, both corporate/investment bankers, that sit on their floor. They work together a lot apparently
Of the MM shops, Blair and RW Baird are probably the top. Lazard MM is definitely not bad, nor is Houlihan (to the extent those two are in Chicago).
Do Chicago offices pay about the same as NYC?
Bulge bracket comp is the same across the board no matter where you work, meaning top-bucket analyst comp in whichever regional office = top-bucket analyst comp in NY
JPM has a big presence in Chicago IB because of the BankOne (formerly First Chicago) merger. They cover industrials, consumer, and M&A. Jamie Dimon was CEO of BankOne and was based there for a while. Chase is also headquartered there.
If you're in chicago ur already screwed.
^ must prefer consistent late-nights, over-priced rent, and the smell of trash
comp, i think lazard has a better rep in chicago than you lead on.
also, i believe bmo has around 600 people in chicago
Chicago IBD (Originally Posted: 09/22/2012)
What are the top shops in the chicago area for IBD?
did a quick search and there are a lot of threads on this topic like this one: http://www.wallstreetoasis.com/forums/2012-update-banks-in-chicago
IB in Chicago (Originally Posted: 12/22/2014)
What are some of the best boutiques in Chicago? Also what are the "tiers" of banks in Chicago?
I believe this is what you are looking for:
William Blair & RW Baird are some of the best Chicago boutiques.
Blair and Baird are not "boutiques" by an stretch of the imagination. Solid MM firms and yes the search function will do you wonders.
do less
I-Banking in Chicago (Originally Posted: 11/16/2014)
Can someone who knows the area well talk about the investment banks in Chicago? What are the best banks there?
All the BBs
Eh, I would say the Chicago market is dominated by MM banks. William Blair, Lincoln, Baird, HL are all at the top.
The BB's and EB's in Chicago have very small analyst classes. Citi, CS, MS, JP, Moelis, Greenhill, and recently Lazard all have a decent presence. Keep in mind that working in a satellite office for a BB/EB is much different than being in the firm's HQ where you are more likely to be executing rather than working on pitches/coverage.
For the most part, all of the EBs and BBs have a Chicago presence. You conveniently ignored the strength of GS' Chicago groups (FIG, Industrials) and Moelis.
Do a search. This topic has been covered quite well in the past.
Chicago Investment banking (Originally Posted: 06/16/2014)
Hello, I am an upcoming Jr with a 3.8 GPA majoring in Econ, Finance, and minoring in accounting at a selective private liberal arts school in the Midwest. I have a lot of connections at the Chicago Board of Trade from family and they speak highly of me and I been able to visit a few times and work for a day. The guys there like me and one of the guys there is able to hook me up with an IB intenrship in Chicagofor next year, and some others have investment banking friends I can network with.
I would love to go to NYC though and that would be my preference, but I would still be extremely grateful with an opportunity in Chicago. I was wondering WSO opinion on exit ops from Chicago Investment banking and how hard the switch would be to NYC for a FT offer.
Where in Chicago? If Credit Suisse/Blair/Baird/Houlihan? All of these do pretty well at placing into upper MM shops and the occasional MF. It's not easy to lateral to NYC. I've known a few who have done it from MM places in Chi to large places in NYC (think Evercore, Greenhill, Lazard). Basically, it's not easy, but it can be done.
I'd continue other forms of recruitment, however. No harm in shooting for a NY bank and there's no guarantees that he'll come through.
I would love to have a SA in NYC, London, or Singapore though.
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