Natural Resources Rankings -2010/2011

I think Citi moves in behind Barclehs and CS. Tudor Pickering has been doing a lot of deals lately and Simmons consistently has very strong deal flow, albeit on more of the middle market deals. After that probably BAML and JP Morgan (assuming we are talking about Houston). I think GS is pretty strong in power but their Houston office leaves a lot to be desired. Same with MS.

who is all in Houston?

Tudor Simmons JP ML MS GS CS Bar CS Lazard Jeff Scotia RBC ?? ??

who is all in Houston?

Tudor Simmons JP ML MS GS CS Bar CS Lazard Jeff Scotia RBC ?? ??

DB

GHL and EVR opened offices in the past year or two. Supposedly UBS is trying to bring in some MD's and keep their Houston office open. Wells Fargo has a team. Raymond James is decent. BMO Capital Markets bought Tristone's A&D team last year.

i forgot about them... evr hired a few lehman folks recently...

Y'all know which banks do all of their execution in Houston?

Obviously the boutiques like Simmons, Tudor, but out of the BB's?

Barclays and CS execute in Houston. UBS did so I would think that would carry over to Citi. I think BAML does but I'm not 100% sure. Don't know about DB either. I believe GS/MS/JPM send some stuff up tp NY.

Does anyone know what Nomura does in Houston? Are they focusing primarily on Clean-Tech?

I was always under the impression that JP was fairly strong in this space

=

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I think CS, Barclay's, BAML, probably Citi now, and the boutiques all do execution in house. There may be a few I'm forgetting.

Without a doubt Barclays is the #1 in Houston. Coming after that are going to be BAML, Tudor, Simmons, and in a few months probably Citi. Cs has gone downhill.

Think JPM goes on there ahead of the boutiques, southern.

Based on deal flow and PE placement, Simmons has to be ahead of JP Morgan. If you want to do something outside of finance/energy, then JP Morgan by all means. But it seems most people are interested in moving to the buyside and getting in to business school, which Simmons is very strong at (and I'm sure TPH will start placing people soon with all the M&A deals they have been doing).

Natural Resources at JP covers Oil & gas, power, chemicals, metals & mining, and basic materials so it's a somewhat diverse mix. Overall the group's had strong deal flow, and worked on some pretty high profile deals. Mirant RRI and Exxon's acqusition of XTO come to mind among others. Not as informed on Simmons, so you may be right Shaniqua, but anyways these are all very strong practices.

does this list change post mba?

Thoughts on RBC?

@ rbc... growing

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anyone had extensive convos with BAML? i had 2 rounds but only met about 3 people (liked them...but still a lot of unknowns) but they are showing some interest and my time is getting very late with some other offers...

Relevant / Stolen from other thread.. RBC is solid. Energy is a booming sector right now, should see plenty of deals most places you look.

Last Full Year (1/2010 - 12/2010) Oil & Gas M&A, Thomson:

Ranking Value, including Net Debt of Target:

(Value (Billions), Market Share, Number of Deals)

1. Goldman Sachs, $73.9, 22.4%, 40 deals
2. J.P. Morgan, $52.1, 15.8%, 30 deals
3. Bank of America Merrill Lynch, $50.1, 16.1%, 28 deals
4. Barclays Capital, $46.6, 15.0%, 21 deals
5. Credit Suisse, $42.1, 13.5%, 25 deals
6. Deutsche Bank AG $41.3, 13.3%, 21 deals
7. Citi, $40.5, 13.0%, 20 deals
8. Morgan Stanley, $39.6, 12.8%, 28 deals
9. Tudor Pickering & Co LLC, $31.1, 10.0%, 35 deals
10. UBS, $25.3, 8.1%, 22 deals
11. Scotiabank- Bank of Nova Scotia, $19.2, 6.2%, 10 deals
12. Jefferies & Co, Inc., $17.7, 5.7%, 16 deals
13. Standard Chartered PLC, $15.9, 5.1%, 6 deals
14. Rothschild, $15.7, 5.1%, 9 deals
15. RBC Capital Markets, $12.5, 5.1%, 9 deals
16. Blackstone Group LP, $9.4, 3.0%, 2 deals
17. TD Securities Inc, $8.6, 2.8%, 17 deals
18. Evercore Partners, $6.2, 2.0%, 5 deals
19. Nomura, $6.1, 2.0%, 5 deals
20. Simmons & Co International, $5.7, 1.8%, 12 deals
21. RBS, $5.3, 1.7%, 10 deals
22. Banco BTG Pactual SA, $4.9, 1.6%, 2 deals
23. Macquarie Group, $4.9, 1.6%, 17 deals
24. ING, $4.0, 1.3%, 2 deals
25. Stifel Financial Corp, $3.9, 1.2%, 2 deals

Last Full Year (1/2010 - 12/2010) Oil & Gas M&A, Thomson:

Freeman - Total Financial Advisor Imputed Fees:

(Value (Millions), Market Share, Number of Deals)

1. Goldman Sachs & Co, $261.4, 5.8%, 41 deals
2. Bank of America Merrill Lynch, $199.7, 4.5%, 28 deals
3. JP Morgan, $197.2, 4.4%, 31 deals
4. Barclays Capital, $196.8, 4.4%, 25 deals
5. Morgan Stanley, $148.5, 3.3%, 29 deals
6. Credit Suisse, $146.5, 3.3%, 32 deals
7. Deutsche Bank AG, $141.9, 3.2%, 22 deals
8. RBC Capital Markets, $121.8, 2.7%, 39 deals
9. UBS, $112.1, 2.5%, 23 deals
10. Tudor Pickering & Co LLC, $111.8, 2.5%, 36 deals
11. Jefferies & Co Inc, $110.9, 2.5%, 17 deals
12. Citi, $93.5, 2.1%, 21 deals
13. Standard Chartered PLC, $82.0, 1.8%, 6 deals
14. Scotiabank-Bank of Nova Scotia, $71.6, 1.6%, 10 deals
15. TD Securities Inc, $57.9, 1.3%, 17 deals
16. Macquarie Group, $56.9, 1.3%, 20 deals
17. Lazard, $50.1, 1.1%, 11 deals
18. Rothschild, $45.4, 1.0%, 11 deals
19. Simmons & Co International, $41.5, 0.9%, 15 deals
20. RBS, $33.7, 0.8%, 12 deals
21. Evercore Partners, $32.3, 0.7%, 6 deals
22. CIBC World Markets Inc, $32.2, 0.7%, 12 deals
23. Nomura, $29.7, 0.7%, 5 deals
24. Blackstone Group LP, $27.9, 0.6%, 3 deals
25. FirstEnergy Capital Corp, $25.9, 0.6%, 13 deals

Monty, you talking energy (O&G specific?) or just overall nat res?

overall

GS does a lot of M&A, ships some stuff off to NY, JPM as well. I really liked JPM, bunch of frat-stars rollin around up there, great group of guys. BAML has really come up in th ranks in recent year(s), with XTO/Exxon, Duke/Progress. Energy sector is hot right now....What you need to worry about it the sweatshop factor

Sweatshops Lazard CS- heard horror stories Deutsche Citi GS maybe?

Tolerable Life Barclays- Probably the top group right now, place everywhere and you dont get burnt out BAML JPM

Nomura is just starting up an office in Houston, will see how that goes.

Tudor does a lot of deals, they're looking into Hedge Fund possibilities, but not looking to go above MM level. Greenhill is very small office, around 5 guys, all great people.

Awesome thread. Keep it going.

how 'bout dem moelis boyz poaching that gs md

Only time will tell.

Does anyone know where I can find the league tables for Oil & Gas (or Energy) for 2010? Not just M&A, but also fixed-income and equities. I've looked at a bunch of places but haven't found anything.

Wells Fargo's team seems to be picking up a lot of steam. They've been doing some pretty big deals recently. They advised Cheasapeake in the company's $1B offering.

lol 1 b offering is best u can come up with? pathetic

Yes, it is pathetic, but only pathetic to people like you that make it rain.

they didn't even advise chesapeake anyway, they were a right bookrunner. MS led chseapeake's recent 1B offering.

I can't tell the difference when I look up these energy deals on Capital IQ. That's why I am interested in seeing the league tables for 2010 across products (M&A (I have), Equities, Fixed-Income, etc.).

Gracias Beef

is this just for Houston? Are the energy groups in NYC not as good?

Friend at Citi Houston regularly clocks 100+ hour weeks.......he worked a 120 the week of his birthday, including the actual day. Pretty rough for Houston.

Dude nobody can actually sustain 100+ hours a week... I find that very hard to believe. Maybe on the rough weeks or periods you can pull a few 100 hour weeks back-to-back, but it's not sustainable.

^ a guy at Lazard told me that before I even got into the industry.

But yes... that is mad rough for Houston, which tends to be more laid back than NY.

I have a friend at UBS and the hours part is correct (when Trauber and crew were there). Said he never really left before 2 during the week except for Friday. Plus lots of work Saturday and Sunday

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GS > LAZ > DB

is how I would personally rank them... although I don't really believe in ranking firms in general, you should rank offices/locations/groups and the rankings will vary person to person based on what you consider to be the most important decision factors

I'm talking all Houston here, GS really on top?

Ah my bad... if we're talking Houston out of those 3 I might put LAZ on top of GS. Their Houston office is very very legit, for an already legit shop.

The Houston office did continental/united from what I understand... and they get crazy deal flow. Not only that, but they get exposure to some deals outside of oil & gas... not so at other Houston banks, which are pretty much all oil & gas.

The downside to LAZ HOU is that they get no capital markets experience, since they don't have the balance sheet for it... but then again the LAZ guys will tell you that as a selling point, and if you want to do M&A > PE then it certainly is a plus that you get more modeling experience.

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Have a friend that's a 1st year analyst and he seems happy there, but don't know too much about their group... anyone else want to chime in on DB?

In general I would rank them a tier below the top Houston banks, but still a good bank.

What about NY?

i had similar offers and would disagree with Beef, as would everyone I spoke with in assessing my offers. Laz Houston definitely does NOT get crazy deal flow. You do get the benefit of non-oil and gas deals, but not a ton...and really this is Houston after all and if you're going to do banking you might as well get the benefit of oil and gas deals...and they just don't have them. Great guys and a reall good OFS banker but just dont have the presence yet. They've also lost 2 MD's in the last year, which didn't help up the deal flow.

DB I heard mixed things but I did really like all of the guys. They do a lot of MLP work and worked on the recent Holly/Frontier deal. Heard they are big on face time.

GS doesn't seem to be that strong in Houston and I think they ship a lot of their stuff up to new york. One of their MD's just left to start the Houston Moelis office.

For starting your career I would definitely go BB in Houston. New York might be a different story.

Jefferies should be considered here - remember seeing their name on dealbook all the time on exxon/xto, KKR/east resources, basically every $2-$3 billion deal for chesapeake energy, etc.

GS natural resources is hiring 09 and 10 associates

Nomura natural resources (lol) is hiring associates

9 or 10? That's absurd. No one wants to play summer associate survivor anywhere, and GS houston isn't good enough to change my mind.

Jefferies does not hire summer associates in Houston, but they've definitely had some notable deals lately.

09 and 10? You must be referring to years?