I'm curious about the elite boutiques that have a office in Toronto. Can anyone comment on summer and full-time hiring/deal flow/exits/comp? I know Lazard, Evercore, Greenhill, and Rothschild are in Canada. Anyone have specific info on them?
Much thanks. I'm currently a second-year student with a solid internship lined up for the summer of 2020, looking to get a head start on recruiting for 2021 SA.
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Roth is only mining, its a small office. Heard good things about Lazard's TO office but don't know enough to coment on the others.
Greenhill's Toronto office has execellent deal flow. Most recent deals include a couple of $3bn+ deals for Canapy Growth, Canfor Corporation's $2.7bn go-private transaction, and Government of Canada's acquisition of the Trans Mountain Pipeline system. The three MDs in the office include ex heads of GS/MS Canada. The analyst class is small (1-2, meaning that the recruiting process is extremely competative) and exit opps include Brookfield and other top PE shops.
Greenhill Toronto also sent a recent A2A to Harvard Business School this year
PWP has a Calgary office (not Toronto but still an option if you want to stay in Canada), Jefferies (not strictly an EB) has a Toronto office. You may have more luck looking at MMs or BBs
Jefferies TO is sadly satellite office. Only an MD and the rest run out of NY. There's a Globe & Mail article about this.
I don’t think they have any juniors in Toronto at all
All four should pay a slight premium over the Canadian banks in terms of base salary with bonuses varying. SA class sizes are about 1-3 at all of them and in terms of deal flow Greenhill is hands down the most active in Toronto. Haven't seen any of the others advise on anything newsworthy recently. All four of them still have excellent brands though and you really can't go wrong working at any one of them.
Don't see laterals down from these EBs much to the US, if that's why you want to do it. Especially because Greenhill and Rothschild don't sponsor Canadians.
Otherwise most of them recruit 80-85% from Ivey with the odd Queens and WFL kid
Not necessarily Ivey - it depends based on the firm. E.g. JPM/Evercore almost exclusively Queen's. MS is pretty diverse (1-2 Ivey, 1 Queen's & 1 McGill). Greenhill almost always Ivey. UBS exclusively Queen's I think. Rothschild generally 1 from Ivey but take Queen's now and then. CS is a tossup, they've taken kids from Schulich. GS generally Ivey but not exclusively. Barclays generally Ivey (2-3), same with BAML. Long story short, depends on firm and school but usually they are willing to make exceptions as long as its a strong candidate.
**I know some of these are clearly not EB but thought it adds context
Interesting that EVR Toronto is mostly Queens. Ivey has a lot of people going to the NY office
How do Rotman kids do at boutiques?
Sadly rotman kids are mostly breaking into big 4 accounting with a couple of exceptions breaking into IB. If you go to rotman just transfer to ivey or queens before it is too late.
I think there's only 1 kid from Rotman at an EB in Toronto, but I heard he's a diversity hire (LGBTTQQIAAP)
Looks like there’s two Rotman at Lazard
spoke with someone at Greenhill and heard junior culture is amazing but they do grind given deal flow. a bit of an unconventional hiring process / timeline tho
EVR Toronto recently landed the Xplornet deal ($2bn) but that's all they've done really in the last few years LAZ Toronto did a few deals, GMP/Stifel and Cronos/Altria GHL Toronto really changed itself since 2017 when the head of GS Div joined, as others mentioned they did all the Canopy deals, Canfor, Aritzia, Sobeys/Farmboy, Blackstone/Pure, Brookfield etc.
I'd say all three all good but GHL is probably better from deal flow, transaction type perspective. Haven't seen crazy exits from any of them but GHL did send to Teachers, Brookfield, HBS recently
and if it matters, have seen guys with Greenhill branded patagonia vests in the path (got a weird maple leaf on the collar lol) but have not seen EVR or LAZ
Only on WSO would the sighting of a branded patagonia vest give brownie points for a firm's clout :P
seen Laz vests in Toronto too.
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