What do people have against London EBs in this forum?

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What do people have against US EBs (PJT, Evercore, PWP, Moelis, GHL, CW) in London here? As far as I'm concerned, they have great people, a nice dealflow with good EMEA M&A and RX exposure. Also pay above-average salaries and have good exits (sure, maybe less MF exits than Goldman..). And some also have a generalist model which can be good for a junior and probably a better culture than the biggest BBs. Certainly stack up pretty well against the likes of Barclays, DB, CS and Citi/BAML imo.

Comments (14)

 
Sep 26, 2020 - 7:53am

My fair point of view:

 

Pros: 

- M&A and RX exposure

- Fucking great salary

 

Cons:

- Most EBs dont have such M&A dealflow and mostly rely on Rx

- Brand name in EU is not close to the US (Maybe apart from PJT/Evercore)

 

Anyways, Evercore, PJT and Lazard do have nothing in common with PWP, Moelis, GHL or CW here.

Personally I would take CS/Barclays above those ones, regarding to PJT/Evercore they are above these ones and maybe also Citi. Would place BofA a little bit above due to the high growth their experiencing and opportunities its large BS provides in the long-term.

 

Note: I am not keen in Rx, if you have an interest on it, fuck these BBs

 
Oct 8, 2020 - 5:18pm

When you are a junior won't matter especially because here everyone is so obsessed with the "exit" and probably the junior experience in Evercore and PJT is superior under many aspects....but later in the career you will realize that the weight of Rothschild and Lazard in Europe is difficult to beat by any other boutique

 
Oct 12, 2020 - 8:06pm

Roths UK is an absolute machine by volume and value - not even comparable to PJT UK (M&A, not Rx)

Public M&A: has most of the FTSE on retainer (part brand, part having boards stuffed full of Roths alumni). Is typically Rule 3 advisor (sell-side) on every take-private unless conflicted out (whether small or large - see Bain/Advent buying Cobham ($5bn)) and also picks up hefty buy-sides (Melrose/GKN ($10bn)). Also does a tonne of ECM advisory often with better fees than the underwriters despite having zero capital at risk - see any of the big equity raises over the last 6 months...

Private M&A: More mid-market focus but excl. Big4 (tiny deals) nobody comes close on volume. Mostly sell-side.

 

 
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  • Analyst 1 in IB-M&A
Oct 5, 2020 - 1:23pm

I don't think anyone has anything against the EBs in London other than a few bitter and insecure people. Know people that have and would take EBs over a number of BBs. Especially PJT who's dealflow is popping off atm both in Rx and M&A. In terms of dealflow / analyst you don't get a much better experience. 

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