Greenhill Restructuring
Any thoughts? I see them on a lot of deals. I hear Neil Augustine blows people up at 2-3am, is that true? See they're looking for analysts.
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Curious as well, they've poached a lot of senior bankers from Lazard and Rothschild over the past few years
Maybe he's mellowed in recent years but I've heard nothing but horror stories about Augustine. At any rate, Greenhill is clearly devoting a ton of resources to RX so certainly not the worst place to be from an experience standpoint.
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please share
that dude works non stop - comments at 2am expects a turn by when he wakes up at 6am, sends you comment by when you wake up and the day continues...
he is very good and does very well financially (obviously for himself)
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I heard he doesnt need sleep. His body recovers only when writing comments
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plenty of stupid monkeys getting hard for "deal flow" and prospect of "great exits" thinking they can stomach that treatment for 2 years. Wait until you hit the desk and that dreaded email comes through at 2am before self reflecting wtf happened
that man brings in like 50 - 100m of fees per year so good for him as a reward of hard work
If that's actually the case for fees, I can see why Todd left to start his own firm instead. A debtor side deal for Greenhill should bring in at least 20-30mm in fees, while a creditor side should bring in 5-10mm. Out of that 50-100mm, your public equity needs its cut, your old heads need their cut, and the coverage bankers need their cut as well. I'd rather be Todd, ramp up to 50-100mm in half a decade but get to keep everything for the rx team, rather than be stuck feeding all these hands that add questionable value (especially if the coverage bankers don't allow me to bring in debtor sides at the same rate as Moelis).
Those fee estimates per deal are too high
Todd who?
Also, do you know why debtor side fees are higher than creditor side fees?
im sure greenhill is giving neil a sweatheart deal... not all MD's are comped the same. Some get 20% of the fees they bring in but those are like 10-20m a year MDs. Neil is a beast bringing in 50-100m so expect something much higher for himself. Fee splits are very political in banking, no MD like to play fair - how do you allocate who sourced it, who executed it, who led and won the pitch and so forth... not very straight forward
also greenhill has been struggling and needs BSD MD's who can change things around.
Guy from my school went here and he couldn’t even set up networking calls with people because he was so slammed
Pretty sure Greenhill literally increased their class size just because of him
my god, did he enjoy his experience otherwise? or was it brutal on all terms
yes, he is intense. you will do every permutation of a pitchbook too
GHL almost doubled RX class size this year. They used to not focus on restructuring but invested heavily in rx last year which ended up being a fortunate move with the pandemic
They landed some pretty impressive Post-COVID mandates, especially in consumer
how large is their class?
Around 10 for NYC m&a and a bit under 10 for NYC rx. Regional offices around 3 each
How has their deal flow stacked up against other RX shops?
Not as strong
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