Middle Market Shops with Less Name Recognition

Going through the recruiting process for SA 2021 currently and looking for some opinions on some of the middle market players like Brown Gibbons & Lang, Imperial Capital, Capstone Headwaters, Cowen, and Stephens. Also interested in identifying some other banks who do work in the same space. Any help or insights are appreciated!

 
 

BGL, Cowen and Stephens all do well in 1-2 sectors. Think Cowen is HC off the rockers.

BGL: don't know

Stephens: pretty decent across the board but do you want to live in Little Rock, AR with the CEO"s private jet?

Imperial, FT Partners and Capstone Headwaters are unknown and not that worth it. Like putting GS next to HL.

Will update my computer soon and leave Incognito so I will disappear forever. How did I achieve Neanderthal by trolling? Some people are after me so need to close account for safety.
 
Most Helpful

Capstone Headwaters - as others have mentioned, they are far more loose than the others, particularly because of their independent MD model

BGL - terrible culture (search function), decent LMM deal flow in certain sectors (industrials, business services, healthcare)

Imperial - used to be a decent, but deal flow is down considerably vs. 5 years ago. I believe they've been consolidating their offices/geographic presence and do better in the Western U.S. I've never seen them on a pitch FWIW.

Cowen - very strong ECM presence in biotech and pharma (as someone mentioned, crushing it this year). Historically weak in M&A, but has been adding M&A talent for the past several years with some acquisitions, poaches from Stifel, BMO, etc.

Stephens - pretty solid all around, competes well for LMM deals. Known more for industrials, business services from what I know about them. Actively pitch a lot of things and work on LMM sponsor deals.

 

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