Wtf happened at Berenberg
Was interested in the firm for a while. Was tracking on LinkedIn how many people worked there. I remembered them hazing dozens of equity research associates and analysts for such a small firm, very little else in IB and capital markets. I checked their employees this week and holy shit what a difference. They have almost no research people left and they have done a massive hiring spree for capital markets analysts. Whats going on at Berenberg
Gutted their entire US equity research team. Very minimal warning and my friend was basically unemployed for some time before they found another ER role
US research is basically non existent where all the reputable analysts either left or got laid off. The business model is now focused on banking names, but since Berenberg US is a no name shop, only garbage deals are brought in. As a result, research only focuses on covering extremely micro-cap names which will likely go bankrupt in 1-2 years. Anyone interested in having a long career on Wall Street should stay away from this place. The London office is more legit, but articles came out that they just laid off 55 people in London today, so not a good look. Rumors have it that most of the ones that laid off were the most productive, so maybe the London office isn’t as grand either. No matter how you slice it, it seems like a burning pile of garbage
Damn, you sound like a bitter employee that got laid off. Sorry bro
Found the Berenberg employee
Used to be a great place in EMEA but since they have 3 or 4 managing partners responsible they cut people as soon as the market turns. If the market is coming back you can make some good money there and you will see a lot of MM IPO's. Also a good place for ER in London. Would stay away in NYC.
They've been losing a lot of people in European ER too
They’ve been firing people, like most other shops on the street.
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