TMT Investment Banking (NYC) BB
Hi does anyone know which firms among the bulge bracket have the best cultures/deal flow in the Technology, Media, and Telecomunications space? Was wondering specifically for NYC offices that have TMT groups.
I know that GS is notoriously known for it's amazing TMT group but any color on the other firms would be great.
Is it accurate that:
1.) GS 2.) JPM 3.) MS 4,) Citi
not sure how the others fare?
CS does well in TMT too
Agreed. Would add CS to this list
Any idea on what kind of tech deals are run out of CS's tech team in NY as opposed to SF?
SF is focused on tech, NY is focused on Media and Telecom with some tech overlap
They recently split up their NY group into Tech and M&T did they not? I got assigned the tech group specifically in NY this summer and was a bit concerned about deal flow/types of deal I'd be put on compared to their SF group which I hear is decent.
The SF group handles all of the West Coast HQ'd companies, while NY handles everyone on the East coast, with certain exceptions to that rule based on MD relationships.
Because of that, the NY group does a lot of Fin Tech/Services (think FIS/Worldpay), as well as more niche verticals like industrial tech, which have traditionally based themselves out of geographies relevant to their end-market (NY for fin tech, Chicago for industrial tech, etc.). However, it seems like there is a decent amount of overlap. My buddy works in SF, but is actively staffed with MDs in NY, and he said that goes both ways.
A big part of the staffing dynamics is driven by the fact that the head of CS IB used to run the SF tech team, and now that he's headquartered out of NY he's still engaged with some projects out of the SF office and that expectation of collaboration has sort of trickled down. Additionally the head of tech is based in NY and is from some Canadian school, but all of the analysts/associates from that school work in the SF office so might be a factor in why they work cross-office.
yup your list is pretty accurate
List looks about right. I would also add UBS to the 5-7 rank despite the general bank's decline. Their telco team is underrated
Huh? UBS is not even on any AT&T / T-Mo / Sprint / VZ deals and probably the only BB not on ANY major deals. What are you talking about?
UBS NYC TMT is extremely weak, SF is eh but the post is NYC.
UBS doesn't come close to any BB in TMT
how does BAML / Barclays / DB fare?
BAML>Barclays>DB
BAML > Barclays > DB for west coast offices
Barclays > BAML > DB for NYC
GS > JPM > MS > Citi > BAML > Barclays/CS > DB/UBS. Citi and Barclays(likely others too) seem to be investing a ton in TMT hiring, will be interesting to see how it plays out
usually I don't comment on threads but this post is extremely inaccurate that I need to intervene. Citi TMT is not as good as you're saying. Barclays TMT is one of its weaker groups. CS TMT is one of its stronger groups CS > Citi > Barclays
True for SF, post specifies NYC. Honestly for NYC, Barclays has the most tech bankers out of the 3.
please stop posting wrong information
As always, assessing the strength of a TMT franchise typically should be separated into Tech and M/T
I’m thought MS T/MT way better than JPM T/MT?
junior level yes, not for league tables/overall strength
JPM M&C is a killer group. NY Tech but the two groups split apart a few years ago
*JPM NY tech is weak, won’t let me edit
yup JPM M&C > MS MT
it seems like outside MS/GS/JPM, it fluctuates among citi/barclays/baml/cs ??
Definitely fluctuates amongst the three, but keep in mind Barc separates out Tech and Media/Telecom. Heard M&T there is good (especially telecom), but tech is weaker.
Citi also separates them. Barclays may be weaker overall (MP office isn't strong compared to other west coast offices), but their NYC tech team is stronger their NYC mid-tier BB peers. In SF, CS is likely the strongest despite somewhat of a weakening over time.
Hard to talk about TMT anymore. Would say that JPM M&C is really solid having been on all the biggest deala lately: Sprint / T-Mobile, Disney / Fox (and RSN Divestiture) and AT&T / Time Warner. Don’t know about the tech team but they have teams in NY, Boston and SF with SF obviously the major. Feels like GS is the king in tech (they had Uber, JPM had Lyft) etc.
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