Rodman & Renshaw - Any opinions?

HCG's picture
Rank: Monkey | banana points 37

Does anyone have any information on this firm

They are publicly traded, so I know the basics

Recently added to the Russel 2000, Historically focused on PIPES and Registered Directs, Historically focused on Life Sciences and trying to diversify.

If anyone has info beyond the above, including opinions, I would appreciate it.

Thanks

Comments (46)

Jun 23, 2010

I was doing a PIB for a biopharm company today and one of the MDs wrote a research report on it...

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Jun 23, 2010
ZIRH:

I was doing a PIB for a biopharm company today and one of the MDs wrote a research report on it...

What size was the Pharma company?

Jun 23, 2010

They've recently been doing a lot of business in China.

Also, they are scumbags.

Jun 23, 2010

Thanks ZIRH

2007Grad, Please elaborate. The aspect of reputation is important to me. Reputation meaning ethics (or perception of lack thereof) versus ranking

Please elaborate

Jun 23, 2010
HCG:

Thanks ZIRH

2007Grad, Please elaborate. The aspect of reputation is important to me. Reputation meaning ethics (or perception of lack thereof) versus ranking

Please elaborate

I had a phone interview and then an interview in their office...I tried to follow up and get a response from them but they never got back to me. Not even a response to a fuckin' email...you'll never see such behavior from most BB's

Jun 23, 2010

Thanks for the elaboration. Potential lack of professionalism. I will keep this in mind.

Jun 23, 2010

I don't really know about this firm, but FYI: I once saw this guy, presumably one of their analysts/associates (as he proudly carried a Rodman & Renshaw duffel bag), commuting from New Jersey to NYC by bus (NJTransit). Oh, and he had a bowl cut hair style. LMAO

"Whenever I'm about to do something, I think, 'Would an idiot do that?' And if they would, I do NOT do that thing."
-Dwight Schrute, "The Office"-

Jun 23, 2010

They do a lot of PIPEs and RDs for "under the radar" companies, especially in the biotech space. Don't really know what exit opps it would offer (if any), since a) they don't have a reputation for working with "quality" clients and b) there isn't much deep modeling experience involved in doing a PIPE.

Jun 23, 2010

88.85M company... i work my firm's healthcare group, so the market cap is really not a very good indicator for size because one day this company can be a money-eating R&D firm, and the nxt day their drug would cure cancer and get FDA approved...

Jun 23, 2010

Right. I see.

This obviously makes sense

Thanks

Jun 29, 2010

are you saying that bb's always reply to emails after an interview. I have been to many bb interviews and sent follow up emails and no response, not from one of the analysts, mds, or eds... R&R has responded to all my emails and promptly for that matter, maybe its because they were interested in me but they seem to have a good reputation. They are usually referred to as one of the top middle market IB's.

Jun 29, 2010
asb396:

They are usually referred to as one of the top middle market IB's.

They most definitely are not a top MM IB. This is a place for information and help, not a venue to inflate one's workplace and/or prospects.

Jefferies, Houlihan Lokey, Harris Williams, Baird, Blair, Piper Jaffray, etc., are examples of top MM IBs. R&R is not in a tier with these firms.

Jun 29, 2010

I actually used to work at Rodman, however I do not want to say in what capacity. The company was hit hard during the 2007-2008 economic crisis and they cut over 50 employees. The size of the company is about 120 people right now. They are mostly known for their healthcare and pharma coverage and have big name analysts in those fields. Overall, they are a very solid IB for their size. They have a ton of bright people working there and everyone has a good education background.

Their new focus is China. They invest in companies that are growing and have recurring capital needs. They do most of their finance in PIPE transactions and private placement deals. They have began to hire a little more and I know they company has done much better as of late. Their stock was a great pick to own at the end of last year and shot up to $6.50+. Since then, the company has been criticized for weak management in terms of helping shareholders.

They spend a lot of money on their global investment conferences, as they produce most of the business for the company. They have had very good quarters as of late and are re-designed their offices. They have beautiful new conference rooms and a multimedia room for interviews with the media and presentations.

Other than that, they're nothing special to work for employee wise. No company culture to really speak of and not much employee interaction. Everyone kind of keeps to themselves or their respective group. They don't offer any employee perks that I know of. However, they do pay well. First year analysts make about $60K and the bonuses are very good at all levels of the company. It's also your typical investment banking job. Mostly everyone works about 10 hour days, things don't get going around the office until 9 am and it's normal for people to be there till at least 10 pm.

Not sure where all the negative press came about what people have said. Makes a lot of sense they didn't answer you after an interview. I have no idea how HR really works there, as I got into the company through someone who already works there. They don't even post jobs I don't think.

Jun 30, 2010

Thanks for being so detailed golf_guy

How did you think people outside Rodman felt about the firm? Not so much shareholders, but competitors and industry players (funds, lenders,lawyers, etc.)

They are a bit under the radar so this is not as clear as it would be for a larger firm regardless of reputation.

Jul 2, 2010
golf_guy:

It's also your typical investment banking job. Mostly everyone works about 10 hour days, things don't get going around the office until 9 am and it's normal for people to be there till at least 10 pm.

LOL.

Jul 2, 2010

I have to assume he meant 100 hour weeks.

And I assume by "everyone" he means Analysts.

Which would not apply to me but I can appreciate the info anyhow. :)

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Jun 30, 2010

FYI: if you are talking about good health care boutiques, the usual suspects are Leerink Swann and Cain Brothers. As far as I know, R&R doesn't come anywhere near the two I just mentioned.

"Whenever I'm about to do something, I think, 'Would an idiot do that?' And if they would, I do NOT do that thing."
-Dwight Schrute, "The Office"-

Jun 30, 2010
BespokeAnalyst2010:

FYI: if you are talking about good health care boutiques, the usual suspects are Leerink Swann and Cain Brothers. As far as I know, R&R doesn't come anywhere near the two I just mentioned.

Yeah, this is true. Especially Leerink for life sciences stuff. That asb guy was just talking out of his ass. He probably works at R&R (only has 3 banana points).

Jun 30, 2010

lol... needham and co is a better HC shop than R&R too...

Jun 30, 2010

Dont work for RR, definitely not THE top MM IB but is one of the better ones out there in the specific space, take a look at recent deals. Lokey and Jaffray often steal talent from RR and vice versa. I retract my statement about one of the top MM IB's because they simply do not have the reputation, but it is a solid firm that does fairly well. SORRY if I offended you VanBurenBoyz.

Jul 1, 2010

I appreciate these comments, all these perspectives have been helpful.

Jul 1, 2010

Um no this firm is not as reputable as you make it sound.

Jul 1, 2010

if you say R&R is a top MM, that is so piper jaffrayish.

Aug 22, 2010

this is pretty much the worst firm on the planet. its not an investment bank and all u do is look at pipes? what the hell are u MARIO OR AN INVESTMENT BNAKER? u wont know if u go to R&R.

Aug 23, 2010
finalfantasy:

this is pretty much the worst firm on the planet. its not an investment bank and all u do is look at pipes? what the hell are u MARIO OR AN INVESTMENT BNAKER? u wont know if u go to R&R.

troll reply but still funny as hell

Aug 23, 2010

How did you come into contact with the firm? Did you or someone you know work for them? How are your familiar with them?

Thanks

PS

Did you actually do a search for the "PIPES" tag in order to make that joke? :)

Sep 9, 2010

was sent to a a thread from some time ago on this firm:

http://www.wallstreetoasis.com/forums/rodman-renshaw

Sep 9, 2010

yes, very reputable MM firm, they do lots of pharma deals.

Sep 9, 2010

Thanks I have a couple alums one a MD and another a VP you think its wiser to contact the VP first?

KICKIN ASS AND TAKING NAMES

Sep 9, 2010

The CEO and CFO both got their degrees from Baruch College, lots of other people from there as well.

Im just curious, do you go to Baruch BudFox24?

Sep 9, 2010

Nope a top 100 undergrad

KICKIN ASS AND TAKING NAMES

Sep 9, 2010

R&R is a serious PIPE/RD player, but if my memory serves me correctly, they don't do a heck of a lot in the standard IB space - M&A and equity issuance. If your goal is exit opps, the PIPE/RD experience probably won't serve you very well.

Sep 9, 2010

i think junkbond swap works in the PIPE arena... Ask him.

Sep 9, 2010

I heard they were a chop shop.

Sep 9, 2010

The boutique I was at last summer worked on a transaction with them. They were the third placement agent on a $20mm transaction, if that tells you anything.

Very unimpressed with the people I met.

Sep 9, 2010

people have told me they make a lot of money on SPACS, Reverse Mergers, Private Placement's etc...

But I had no idea of their reputation on the Street...

Sep 9, 2010

I heard Dennis likes b-ball...

Sep 9, 2010

their web-site is absolutely attrocious

Sep 9, 2010

They do a lot of small equity raises (PIPES, private placements, etc). I do not know much about their advisory practice. Probably not the best analyst experience, but if its all you got go for it.

Sep 9, 2010

I asked about this firm a few months back.

Here is a link to the response thread-

http://www.wallstreetoasis.com/forums/rodman-rensh...