Citi London IBD Teams
Joining Citi London as SA this June.
What are their best teams in terms of dealflow/prestige?
Thanks
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Purely based on league tables 2K15, Consumer Retail seems to be one of their best teams
Which league tables are you looking at?
Thomson Reuters league table - you can find them through the Eikon terminals at your school You can also see them on Bloomberg terminals
Ignore deal flow and prestige. You will be an intern for the summer and your sole focus should be getting the team you will fit in with, enjoy, and therefore maximise your chance of converting to a full time offer. Important to note the offer you will (hopefully) finally get is from Citi London.. NOT the team you interned with. So even if you don't like the team you are placed with but still convert, you do NOT have to rejoin that team full team... it has happened a bunch of times.
I forget if SA is an analyst or associate.. I think Associate right? In which case max 10 of of you which means you have a lot less say in the team you join. They don't run a big session with all the teams pitching like they do for the analysts. In advance all the teams who want a Summer Associate will have let HR know, and therefore while you may want to join TMT as an example, if they don't want an SA, you won't get in. That of course was a stupid example... TMT always want SA's to crush. But basically the teams who wanted ones, are shown the CV's and they choose who they are interested in, and reach out to meet with you to check you are a nice guy and would fit, but also do a bit of a sell as still there are more teams interested in SA's than there are SA's if that makes sense.
So ask yourself is there a sector that interests you more from the past perhaps, that is more likely to keep you going at 4 am. If no sector do you want a more general role and go into coverage in say FEG or the UK M&A team and get a broader exposure to industries and topics?
Ask away... I was ex-Citi london, worked extensively on the recruitment of summer interns both into the bank and my team so do know my way round it a fair bit
SA = Summer Analyst most of the time
Ok, in which case I change my reply slightly if its for an analyst. They will have a day where you get to meet all the teams, then you kind of come up with your top 3 and enter into a pretty shit week or two where you meet with as many from that team as possible, and try and match up with a team that will also put you as there number 1.
It's really not fun, is pretty frustrating (for both sides) but I must stress to be honest with the teams - If they want you as number 1, but you aren't sure then tell them, as they may waste a number 1 pick on you, and then find out you didn't put them as a 1 (and yes, we can find out exactly what you put down).
However the underlying fact remains - pick the team you feel more comfortable with and therefore the team you will increase your chances of getting an offer from. Your final offer will be from Citi not the team so you can change. Also, take the time in breaks to meet with as many different people from the team as possible. Don't waste time trying to meet above Associate/Staffer - if that team wants you they will bring out the seniors - spend time with all the analysts and get a feel for what they are like. If they are unable to meet for a coffee take that as a sign they are a douche, and maybe the team is like that too.
TMT will crush you. You will not get any 'sector' expertise, just learn how to work all night on pitches Healthcare and consumer is one team at the junior level so could be a good intro GIG is also pooled at the junior level so again you get some cross exposure FEG works very closely with LevFin, so if LBO modelling at all interests you go here as they will spend the time to teach you
Thanks for the reply! I've got a few more months until the Marketing Fair (i.e. the day where we meet all the teams) and I'm trying to meet some people offline before that entire process begins.
I heard some bad stories about TMT and Healthcare cultures, and Consumer seems to be doing poorly. So far I narrowed it down to P&U (top team in the bank), FIG (also pretty strong in terms of dealflow and prestige) and RE (what I want to do in the long run, even though Citi's team isn't that good). Any thoughts?
Also, a dumb question, but what is GIG?
And one more thing, in terms of geographical teams, is only UK M&A based in London or are there others too (e.g. I know that the Italian team used to be here until a few years ago, but has since moved to Milan)? What's your opinion on these teams (UK M&A and potentially other London-based ones)?
Agree its definitely a good idea to reach out to the teams early.
As for current league table stats, I cannot comment but
TMT - I think its just a industry thing. TMT teams always seem to have really shit hours. But my own experience of Citi was it was partly self dealt. Many would take themselves off for an hour or so to eat dinner and chill in the office, there is a lot of time wasted waiting on seniors to turn comments, they complain they regularly work till 4am but then wont be seen in the office much before 11 etc etc.. but anyway
FIG - I think that is an excellent team and always made me laugh as that was the one team who all dress like MD's. It's pretty cool, certainly better than TMT who rock up in jeans and polos on a friday. It's quite a euro team though so I guess that explains it. Again they are worked hard, but you kind of felt they had more tangible outcomes from that hard work. Very very techy team. FIG guys would always be asking the technical questions in interviews, and complaining if the students hadn't read the FT from birth.
Healthcare - they lost Massey, who was a very very good team head, to RBC (I think). New guy, I didn't work with him so much, but didn't get the same warm fuzzy feeling as I did from Massey. Consumer is just in a tough place - just don't have that many good senior guys - again, is that a bank wide thing or just Citi, I don't know.
P&U - PTB is the man... only worked with him a few times, he definitely works his juniors but I think they all like it?
RE - When I joined we had a RE team, which they then closed down, and were in the process of building it back up again when I left. Logically, that means they are starting from behind on everything they do. Don't know if they hired a guy to run the team who was in the market while we were out?
GIG - Global Industrial Group. They cover everything, so at a junior level you will largely be running comps. A lot.
UK M&A is indeed out of london. They obviously deal with our corporate UK listed clients, a lot of blue book work, defense work, strategy, IPO pitches etc etc but they also get involved at a sector level on some UK deals but there they get into a bit of a bunfight over whether they are the sector guys, or the sector guys are the sector guys.. very english team, as you would expect. But I would expect you would get a good broad exposure to banking too.
Citi London IBD groups (Originally Posted: 05/05/2016)
Hi,
I’m about to make my group choices ahead of my summer internship within IBD at Citi London this summer.
I am thinking between Power, TMT and Industrials. Does anyone have some input on this groups in terms of deal flow and exit opportunities?
Any input is really appreciated, thanks!
Br, tarkL
bump
Bump
Citi London groups for PE (Originally Posted: 11/07/2010)
I have recently been offered a FT spot for Citi IBD in London. Which are the best groups there for LBO modeling and breaking into PE?
Thanks
Hi guys,
Does anyone have any input?
Thanks
.
Best IBD teams in Citi London? (Originally Posted: 03/04/2013)
Any views on the board?
Ps. Yes I've used the search function - all threads are very limited and/or outdated
any comments?
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