Middle Market Banks - Interning at a PE firm
I am currently interning at a PE firm and am a senior at a midwest school. I was wondering what all of you thought about the following banks for possible banking opportunities:
Brown Gibbons Lang & Co.
Stout Risius Ross
Piper Jaffray
Goldsmith, Agio, Helms & Lynner, LLC
Duff & Phelps
Houlihan Lokey Howard & Zukin
Although interning for two summers at the PE firm has given me great experience, my GPA is only a 3.3. Do I have a chance to get an interview with the above banks? If so, which banks do you like and why?
BGL sucks... bankers are total a-holes and they work their analysts to the bone over the shittiest deals this side of the port-o-john.
Piper is a pretty weak name.
HLHZ is the way to go, but a 3.3 at a midwest school and you're gonna have to blow someone to get in.
I honestly don't know much about the other firms... i've never even heard of Goldsmith & whomever.
HLHZ, then Piper.
BGL is a chop shop.
Thank you for the honest advice.
Rumor is that Piper just paid market on bonuses with no regional adjustments...
HLHZ is a sweatshop where you crank out fairness opinions all day...
Go Piper all day if you are deciding between the two
Goldsmith, HLHZ and Piper would be my rec.
Although it is complained of being a tough place to work and a valuation shop that is trying to be an investment bank, it easily comes with the most prestige out of the banks you listed. HLHZ might be a stretch for your credentials but they do recruit from a select number of midwest schools so give yourself a chance and go for it.
probably the number one mid market bank today.. you should look into it
Jefferies and HLHZ are the best options in the mid market
Would you rather go with a guarantee in M&A at a shop like Jefferies/Piper/HLHZ. Or risk ending up in ABS at a place like Citi/DB/UBS? Especially if your goal is to end up in VC.
M&A at a respected middle market, by far.
whats ABS?
Anti-Lock Brake System.
Does SunTrust Robinson Humphrey fall into this category?
I attend a southern school and I have a 3.5. I really want to move to LA(I'm from Chicago and I fucking hate the weather). What are my chances and what mm banks are in Chicago?
Only do Piper if you get into the tech group (and want to be in the tech group). If you are in M&A at HLHZ, you will not be doing any valuation, completely different groups.
Really? I've heard firsthand that the tech group (assuming you mean the one based in MN, not SF) is the most dysfunctional group in the bank. They had 3 people leave in the past year after only a year.
what are my chances as a senior at umich with a gpa of 3.0 in econ?
i have work experience though unrelated to finance
Your chances are pretty low considering no finance experience
Try to get an internship even if its unpaid just to slap on the resume
Low at Piper and HLHZ, but not impossible. COMPLETELY different cultures at those two firms by the way. Total opposite sides of the spectrum.
HLHZ Restructuring..
PE Chimp. If you hadn't noticed we are in familiar situations. Respond to this with you email and I will get in touch.
Do HLHZ. YOU DON'T DO VALUTION if you're in M&A or an industry group.
BGL - losing people and works only on deals that nobody else wants to.
SunTrust - lost a bunch of people and activitely hiring to replace the smart ones that left.
HLHZ - gotta love FO if not in the M&A group. Good name and reputation.
Piper - lost its co-head of M&A but still good reputation and does good M&A work.
You're missing Edgeview and Harris Williams - big in middle market M&A (esp. for PE firms) but often overlooked as a great experience.
Tech group is primarily in SF at Piper. Same with consumer.
Specialty FIG is primarily in MN as well as healthcare.
There are some mm generalists in both states, but essentially Piper is 4 industry bank + a little mm industrial.
Where do you guys place European outfits like ABN AMRO, ING, Dresdner etc etc? (These are seen as second tier in the City).
Does anyone have any insights about Brown Gibbons Lang? If so, please enlighten the curious one here.
Read above for other comments about them. Several of their D and MD's have recently left the firm. In fact, after many month of squabble they just lost the L from BGL.
Anybody know anything about Duff & Phelps?
D&P and HL seem tohave pretty good reps here in Chicago, but I've heard that working at HLHZ=hell. It's supposedly absolutely the worst in terms of hours and culture.
just what I've heard.....
I was an Industry Group analyst at HLHZ. 90% of my job consisted of sell side M&A work. I didn't do any FOs, PPAs, or other valuation crap: the FAS group handles the latter. Also, please note that HLHZ does not provide public offering services as does Jeffries and Piper; although you may get some private placement exposure.
The HLHZ environment can be hardcore, but some groups are not as bad as others. I know for a fact some groups in NY do not work nearly as much as CHI, DA, and ATL.
As far as your chances of an interview, you will be on the fence with a 3.3. However, if you were to contact an analyst or associate and convey your interest with the firm, your chances would increase during the screening process. If selected, know your shiat...and don't be a prick or dork - very profound I know.
Pay is strong as they are competitive with BB. I heard Jeffries pays well too.
Also, SunTrust RH sucks ass - terrible pay and no respect. RH used to be pretty good before SunTrust bought them. All the good bankers dusted that place a few years ago when they reorganized.
Hows Cowen compare to say HLHZ and Jefferies?
Bump, particularly re: BGL and D&P. This thread is over 3 years old, and so I'm curious about the firms' current reputations. Also, where would you place BMO relative to them. Thanks.
BGL - Lost a bunch of senior bankers throughout 07-09. Usually do ~$50 mm deals that nobody wants to do... but recently I've seen them in a few bake-off's with HW/Lincoln/Piper.
Why hasn't anyone mentioned HW? Straight M&A, street comp, and probably the best exit opps.
The best boutique is the one that gives you an offer. In the current economy I would apply anywhere and everywhere.
Also 2nd longshot, HW is one of the most prominent MM boutiques.
yes.. how do MM banks stand today?
William Blair/Harris Williams/Jefferies/HLHZ
and then there's everyone else. that is, if you want exit opps to solid MM PE funds
i'd put Baird/Lincoln a cut below. and then all other banks significantly below.
Duff and Phelps is a joke, in New York at least. I've seen a number of notably bad work products from them. In New York they compete with the Big 4 for various consulting and valuation services like fairness/solvency opinions more than they compete with banks. They have credit for 2 closed deals and 1 pending year to date, totaling $202mm, most of which was the fairness opinion for Constellation Energy.
Has anyone had any experience with a boutique called Brean Murray Carret? Can't seem to find much info about it outside of their official website.
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