How's FIG doing right now?
I'm interested in the industry, but am wondering what the deal flow is like. Obviously it's the craziest sector right now, but I'm wondering how that plays out in deal flow. Are companies afraid to do anything and bankers are stuck pitching? Or does the chaos allow for lots of capital raising and M&A (asset and division sell-off, etc.).
Any FIG bankers (or anyone that knows FIG bankers) on the board know anything about this?
i'd be interested in the answer to this as well
i'm going into a FIG group and i talk regularly with the guys who are on the job there now. a direct quote froma couple of weeks ago would be "been up to my eyebrows doing 4 week M&A deals".
This is a top BB in HK though. would be interested to see what it's like elsewhere.
You sure you mean M&A and not capital raises?
GE Capital helps FIG deal flow at JPM/Centerview obviously. There are still a lot of banks going through restructurings which may or may not need to raise capital. In addition, some want to improve their capital ratios through hybrid financing. I don't think any decent FIG group is on its ass currently.
I have friends that are associates in BB FIG, and M&A deal flow is low in banking. There is a decent bit of Asset Management deal flow, and the people I know don't do much in the insurance vertical in their groups so I can't really opine on how things look there.
In terms of deal flow, depends on which vertical you're talking about, generally speaking, I think the activity in FIG has picked up significantly in 14 and has continued in 15. This is what I have seen for the various verticals:
General trends driving M&A activity overall, increasing regulatory clarity, improving markets in Europe, westbound flow of capital from Asia (China and Japan as investors/companies look for ways to expand and diversify returns outside of their domestic markets)
Can you elaborate a bit more on the consolidation of specialty finance companies since M&A transaction and dollar volumes are going to surpass all of the previous years.
Is this an industry that will continue to grow and if so, is it a great place to start an analyst's career? Thanks and SB'ed!
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