Hi,
I just received offers for three 2020 IBD internships in London at Citi, Rothschild and Nomura. I was wondering which group has the best (PE) exit opps? Most of the threads on this topic are outdated (2014 or older).
Also, which sector teams are their best in terms of ‘prestige’ and would this impact my exit? I read some positive stories about Roth HC, is that still relevant?
Thanks!
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I am an ex Citi London alum. Ieft a few years ago. Citi London has great exit ops and is a very well respected franchise. Don’t think much highly of Nomura. Rothschild’s healthcare has decent reputation. Top teams at Citi London: tmt, fig, industrials, healthcare, UK, power & utilities. I might be missing some. Overall great place
Could you PM me if possible? Got a specific question :)
How did you receive your offers when the recruiting recently started?
probably hypothetical
I actually started the recruitment process two weeks ago. Nomura called me two hours after the interview and Rothschild called the next day. But I heard they’re still interviewing others and I’m also waiting for my GS HireVue results.
Okay, I applied to both 3 weeks ago. So are they offers or just hypothetical?
Nomura is definitely no where near the two other shops. Citi and Rotschild are very different. Consider the following: Deal size and flow: Rotschild has insane dealflow yet much smaller size, often in the 250mm-1bn space where as Citi is on larger deals but does fewer deals. Responsability and exposure: from working with/at Citi this summer I can tell you that Citi throws an insane number of bodies on live deals. So you’ll do less as an analyst. At Rotschild deal teams are lean so you will do everything from the beginning to the end. PE exits: both shops are seen as really good from HHs. Note that exits will be a bit different though. Rotschild sends a lot of people to MM PE where associates will get more responsibility, more options for career progression internally (partner track) and whereby you get more sense of business/operational stuff. On the other hand, Citi sends people to some UMM funds where they will be doing an analyst 2.0 job and may be pushed out after few years - it is a good option if you don’t know what you want to do long term as your skills/CV will be valued. So for PE long term, Rotschild can give you an expertise in a really good MM niche ie Business services, Healthcare, Consumer where you could make an entire career. This may be harder coming from Citi.
This is very accurate as a Rothschild employee. Both Citi and Rothschild are good, it depends what type of deals you want to do, and what type of PE you want to do.
Well renowned sector teams at Rothschild include HC, CR&L, Industrials & BS.
Thanks! That’s really helpful. I also heard of someone moving from Rothschild to BX (LDN) fairly recently so apparently an MF exit is still possible there?
It is but not the norm
What is a UMM fund?
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