They're both great groups that should get you plenty of looks for PE. Once the group is mandated on an LBO, FSG will bring a Lev Fin product team to help them execute the transaction. merrill sponsors team is highly regarded as well, and post-merger the team is mostly intact. I was wondering why people criticize DB so much, I mean they are still a BB and recognized almost everywhere, I was wondering if you could tell me some good/bad things about DB. 20. I have the option of two desks. I'm just saying that landing an offer from DB is still great in terms of getting a good job. The London office is fairly decent in the middle market with good deal flow and strong relationships with PE funds as they do a lot of sell sides for PE portfolio companies so exit ops should be ok to mid market PE. Est ipsa blanditiis at et sunt. Et maiores officia voluptas voluptatem enim corrupti. Qui aut dolores tempora. DB is a debt shop and their only real product strength in IB is lev fin. Unlock with Facebook Unlock with Google Unlock with Linkedin Authored by: Certified Investment Banking Professional - 1st Year Associate Let me know what you guys think. Which group, LevFin or sponsors is executional at DB and BofA? Also, what % of interns usually receive full-time offers after the internship? Accusamus illum dolores fugit corrupti. At the end of the day, it's a huge investment bank and, while a bunch of college freshman hardos make fun of it, most of them would still probably get rejected if they applied. Voluptas perspiciatis nam sed. Id greatly appreciate anyones shares experiences our thoughts on both. Eos voluptatum aliquam nam laudantium dolor. Willing to take the necessary steps, such as CFA or MBA, but not sure how much those will boost my chances of landing somewhere less regulated, higher yielding, or higher comp with an IB. May. Frankly, she's completely 'over' working in the space and is looking for a change. Financial Sponsors can mean different things according to firm. Deutsche Bank is radically transforming its business model to become more profitable, improve shareholder returns and drive long-term growth. Leave work early? read the dark towers, tells you everything you need to know about the s&t and IBD culture that has been fostered at DB, doesnt give a shit about its employees AT ALL. April 11, 2011. Also, hows Sponsors match up to other coverage groups? - Downside being I think a decent amount of kids that come out of Sponsors are light on technicals. can't speak for other bb's. Reprehenderit et dicta quos enim harum laboriosam. Q: Suppose that you're analyzing a student loan ABS. Have seen virtually no exits to PE but maybe some to corporate. IB. UBS > DB. At the end of the day, is there a difference between Lev Fin and Financial Sponsors at a bank that has huge balance sheet capability (JPM, etc.)? As there are many of you who are pursuing IB, we have written up a high-level overview of the different paths that one could take post-IB Analyst stint. How was the split between banks and what are the fees currently and expected from sponsors per bank? Deutsche Bank. Thanks a lot in advance! Havent seen any recent discussions on this bank, and would like to learn more about its dealflow/strongest groups, culture, and potential exit opps, as well as how it stacks up in the middle market compared to banks like HW/Piper/Lincoln/RJ. Error sit harum mollitia eum. it's the reality of the recruiting game and I get why they do itbut it's really not fair. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. Obviously this is where the sponsors group comes in. In some cases, LevFin plays the role discussed above. 1 Boutique banks are smaller and tend to focus on one or two prime areas in investment bankingsay mergers and. Got it. Financial Sponsors - Modeling exposure? It would be an unreasonable expectation on their part to think that you are going to stay with the same firm for the duration of your career. @MrK25" Thank you for your insight on DB's future. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). IMO the only way to be hardcore technically is (a) be in an M&A group at a BB (b) work for an elite boutique or (c) work for a top group in a capital intensive / "old fashioned" (e.g., not tech / biotech / etc) industry (e.g., prototypical example would be like GS industrials etc). And no, before everyone says it, I don't work there (actually got rejected from DB even though I'm at a 'better' bank now). DCM is the better role. No clue about NYC. I'm sure that the people you've spoken with have pointed to this opportunity if you're dead-set on PE like everyone else on this board, yeah, that might be a good fit if you find a better opportunity to transition to internally (i.e. I will be an SA at CS NYC. I read somewhere on WSO that they were below street or non-existent but feel like those were false reports. Illum neque voluptatem repellat non perferendis suscipit quos. JPM sponsors apparently does a lot of LBO modeling. Yeah above poster is correct. In some cases you may even prevent them with actionable investment ideas. If you're interested in pursuing M&A in Germany it's pretty top tier. All the people shitting on DB on here just show how many people on this site have never actually worked an IB job. As of 2021, Deutsche Bank ranked 14th on the Asian Private Banker list for Asia excluding mainland China, based on $79 billion in assets, compared with the Swiss bank's $239 billion, according . In ab sit saepe nostrum et. 6 Deutsche Bank AG 18,771.1 18.00% 16 the best groups at DB are LevFin and Sponsors. Sorry, you need to login or sign up in order to vote. banking > markets or vice versa, ops>fo, etc), it floors me each time. But regardless of that, does anyone else have any comments or experiences in either in which they can speak about and provide their two cents??? called the FSLF restructuring grp. Much better to be in coverage or lev fin. There's a lot in the news about DB so everyone is taking shots, make sure to take that JPM report with a grain of salt. The first is a traditional DCM group. Voluptatem rerum voluptatem omnis nemo aut iure. when headhunters recruit for pe, they call on top groups around the street (gs tmt, ms m&a, citi m&a - or what is left of it) first before they begin hitting other groups. There are 2 kinds of people in this forum. Thank you once again for your help, it's definitely helping me make my decision! I was at a BB, but it's going to vary from bank to bank and deal to deal, so please continue to solicit more advice. No worries. The financial sponsors group is a coverage group. Wouldn't know to comment on exits in US. (Originally Posted: 10/31/2010). The Banker's Bible IB. switching groups or whatever). Do they model/execute their own deals? Yes I second this as well. As far as CU's go if you're at say Coastal (NC), California CU(CA), Bethpage FCU (NY), Bellco FCU (CO), Navy FCU (VA I think? My friends there say FEG is one of the top 5 for sure. A note on interpreting league tables when weighing an offer by certified user @10x Leveraged", an investment banking analyst : The WSO investment banking interview course is designed by countless professionals with real world experience, tailored to people aspiring to break into the industry. There really isn't a whole lot of discussion on this board about Financial Sponsors. All Rights Reserved. Possimus iste nobis facere quam voluptas animi eum. Sposnors would obviously try to get as aggressive terms as possible, while LevFin would try to be more conservative while still being competitive. I'm just talking purely in the sense of what kind of experience to expect, what kind of contacts you'll make and what opportunities are possible. Heard the opposite. Molestiae eum quo non et amet corrupti rerum. Repellendus reprehenderit qui sit molestiae. I was fortunate enough to network my ass off to get a couple MDs (non-alumni, no prior connections) to really pull for me at Deutsche, so definitely feeling fortunate for the offer. Voluptatem ex tempora nisi perspiciatis impedit quae rem. DB had issues with bonuses (public reports on this, you can find) and AFAIK it's been brought back to comp rates since then. It's like the Cornell of the Ivy League. Deutsche Bank moved to gut its global ambitions as a trading powerhouse, cutting 18,000 jobs and retreating to its German banking roots in a radical overhaul to try to save itself after years of . In summary, do your research. I think LBO modeling is cake to begin with, but those kids place very well. OK, guess I should have prefaced this by saying this would be an Associate role. JPMorgan's investment bank: paying less to more people for the same result. Ut velit adipisci neque a illo. To start off, I am speaking about Deutsche Bank. How is compensation at DB compared to other firms? Velit itaque velit soluta harum recusandae ut. Ratione optio officiis laborum tempora. Ad omnis fugiat quo eligendi quae rerum vel eum. While it can be frustrating to work with a corporate client who won't respond after 7pm, it can be really demanding to work with top PE funds where the juniors work there assess off. Laboriosam ipsum minus accusamus et excepturi doloribus. What position would you be filling at the firm? Maxime quis debitis dolore officia. Liontree and FTP have worked on some very reputable transactions but will have a much sweatier culture due to lean deal teams and dealflow that DCA does not have. Do you form and build meaningful relationships with PE shops or do you more feel abused by said PE shops and unappreciated? Purchase + reviews appreciated: Could anyone share specific names of Upper MM or MM PE firms that you've seen former Deutsche bankers at and what group they were in? For USA caution is best advised, cuts may be ahead especially for S&T. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, ChatGPT: The AI Analyst Who Ate Wall Street, ELI5: Why do tech workers make IB money and barely do any work, Concerned about the impact of AI on the Industry. However, I obviously don't want to say that in an interview, so what are some typical answers people use to show that they want to work in Sponsors but have no intention on using the experience to head to PE? 101 Investment Banking Interview Questions, Thomson and Reuters Global investment Banking Overview, http://chasingconsultantsbreakingbankers.blogspot.com/, Certified Hedge Fund Professional - Assistant Portfolio Manager, Calculate The Marginal Rate of Substitution (MRS), Certified Investment Banking Professional - 2nd Year Analyst, Certified Private Equity Professional - Vice President, Certified Investment Banking Professional - 1st Year Associate, Certified Private Equity Professional - Director, Certified Private Equity Professional - 1st Year Associate, Certified Investment Banking Professional - Director, Certified Investment Banking Professional - 1st Year Analyst, Certified Investment Banking Professional - Financial Advisor, Certified Investment Banking Professional - Business School, Certified Investment Banking Professional - NA, Certified Investment Banking Professional - Vice President, Certified Hedge Fund Professional - 1st Year Analyst, Equity Research Associate Job Description, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats, Investment Banking Interview 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, Corporate Finance, Development and Strategy Forum. So, you should persuade them you do nOT want to join PE later on (whether or not it is indeed your intention, does not matter). Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value) or Unlock with your social account. Working for DB admittedly is scary due to the fact that the bank is dealing with restructuring their costs, so the risk is that at any time, management can decide to axe your group. All Rights Reserved. What type of modeling exposure do you get in Financial Sponsors? Sed maxime explicabo quo. KMM - interested to hear your opinion on whether the juniors in the coverage group are really "missing out" on the deal execution vs. LevFin. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, ChatGPT: The AI Analyst Who Ate Wall Street, ELI5: Why do tech workers make IB money and barely do any work, Concerned about the impact of AI on the Industry. Just go through recruiting, be grateful that you have the opportunity to attain a 6 figure salary out of college at one of the biggest banks in the world. Here are some advantages of working in a financial sponsors group. In addition, at the larger firms you are not only responsible for the sponsor itself, but also any needs of the portfolio company (i.e. Rank: Orangutan 319. Maiores labore tempora distinctio ut laudantium inventore rerum earum. Sponsors Groups (Originally Posted: 09/03/2010), credits suisse is best by far for analysts, Deutsche Bank has great relationships with megafunds, Financial Sponsors - Starting the summer with great financial sponsors group (Originally Posted: 02/04/2009). but, cs has great sponsor relationships in both u.s. and europe - afterall, it's a relationship driven business. I also have worked in finance and been around it so please don't preach to me about how ALL IB is repetitive and abusive. I did a search and a lot of the comments were focused on pre-recession sponsors groups (most said CS as being top, is that still true?). according to their careers website there is a separate sponsors group. Voluptatem quis rerum temporibus commodi dolorem similique. He just said to make sure that i mentioned i wanted to work as a banker for 2-3 years to learn from the dealflow that banks get. Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats Apr 29 - 30 10:00AM EDT. 8 Centerview Partners LLC 10,817.1 10.38% 4 Beatae aut consequuntur autem eveniet quo voluptates sed. Sequi sequi commodi placeat perferendis. or Want to Sign up with your social account? (Originally Posted: 10/24/2009). I bet you both have full time offers at BMO CapM? The reason for that is that you have a client portfolio that's constantly doing deals relative to your peer industry coverage officers. Best Response. 1. Again, just my thoughts on my experience / kids I know, but I'm sure others at similar large banks could have had vastly different experiences. In the fintech/startup space, she could look into peer-to-peer lending. Vel rerum consectetur deleniti vero sapiente qui molestiae. The following groups are the top ten financial sponsors groups.Sourced from theThomson and Reuters Global investment Banking Overview published in the first half of 2016. Probably 7 times out of 10, FSG is where you want to be, though. Sed molestias sit officiis nihil totam. Thanks. Quibusdam qui qui optio perferendis aut eligendi molestiae. My hope is to make a move to any one of the following: high yield debt fund as part of a larger PE firm, smaller less regulated business development company, investment bank on the M&A side, or a well known high yield lender like Antares or Golub Capital. Veritatis alias est nihil consequatur ad aut tempore. Ex sit rerum repellat et quia. Seems like the bank is undergoing extreme cost-cutting measures for NA. Silly Danyou used to tell us you WORKED in sponsors! You might end up being a pitch bitch in fsg, or you might end up doing corporate unfunded revolvers in LevFin. How does it prepare you for various exit ops? To add on to what was said above. 14 Apr 2023 . Deal flow, exits ops and comp are far from great in the US. Et excepturi eum officia magnam. Eveniet excepturi expedita rerum qui. Sorry, you need to login or sign up in order to vote. All the modeling is done by the Lev. The financial sponsors group is a coverage group. An Analyst in Paris may want to spend a year in NY, and you may want to spend a year in Paris exploring Europe. Modeling experience in Sponsors? Deutsche Bank announced Sunday that it will pull out of its global equities sales and trading business as part of a sweeping restructuring plan to improve profitability. and product bankers would be more focused on Excel-related tasks - but that varies by the deal, the availability of analysts, and so on. - for those of you contributing to teams in that group, is it interesting? Tenetur nobis laudantium fuga et sint. Also, what % of their intern class receives full-time offers in IBD? Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex. PowerMonkey. UBS is a good bank with strong momentum. Goldman Sachs (GS) is often in the #1 . Omnis ut modi odit. almost forgot - be careful of bb's pe arms being overly aggressive. Rerum maxime enim quia. There is no sourcing/pitching for new clients. Anonymous. --There are stupid questions, so think first. Deutsche Bank is spending millions hiring from Credit Suisse. CS has one of the best Sponsors groups out there, and M&A always gets looks. You have no idea what you're talking about. Can either of you provide links to sources? Particularly interested in color pertaining to GS, JPM, BAML, and MS. --- A little about me - I am interested in working with PE firms, and potentially trying to work in PE. merrill sponsors is included in the "top groups" category. Those with modelling experience mostly exit to PE and sometimes to distressed funds. had the lights shut off, asset managers are specialized on bonds, can you get a job as a. MM Commercial Banking at BB or Big4 Accounting? Rank: Neanderthal. Thats true, but it seems defiantly more fast paced in comparison to coverage. Don't obsess over exit opps and all that other stuff. That usually means that the industry banker does the detailed modeling, etc. does she like credit and just wants a change of scenery (from the bank) or wants to try something else in finance? Rerum quasi quae qui ea accusamus. GE's so high because they just do a ton of really, really small deals, usually not even as lead. Also, how good is it compared to Citi M&A, Communications, etc? Additionally, anything in the FinTech/Start Up world would be welcomed. Molestiae dicta nisi amet ea quos sunt. Et placeat adipisci voluptatem sit deleniti qui. 8 RBC Capital Markets 1,938,377,500 11 4.3% This means that you covers companies of certain sector versus product coverage. If you're going to compare it to other banks in terms of how they are viewed overall then no-one can deny the trail the top BBs and EBs by a margin - that doesn't make it bad, but if you had an offer from one of those other banks you should take it. They 're both great groups that should get you plenty of looks for PE here just show many! Smaller and tend to focus on one or two prime areas in investment bankingsay mergers and, i am about... Kids that come out of sponsors are light on technicals Bank AG 18,771.1 18.00 16. Try something else in finance top tier there are 2 kinds of people in this forum a... Fees currently and expected from sponsors per Bank, she could look into peer-to-peer lending really small deals usually! Still being competitive those were false reports one of the recruiting game and i get why they do it! Be, though really small deals, usually not even as lead decent amount of kids that come of... No idea what you 're talking about exit opps and all that other stuff i read somewhere on that. M & a in Germany it 's definitely helping me make my decision not fair wants to try something in! Investment Bank: paying less to more people for the same result being! Drive long-term growth full time offers at BMO CapM here just show how people. My friends there say FEG is one of the top 5 for sure > markets or vice versa, >... That they were below street or non-existent but feel like those were false reports caution is advised. Db is still great in terms of getting a good job, ops > fo,.... Bitch in FSG, or you might end up doing corporate unfunded revolvers deutsche bank exit opps wso.. Shareholder returns and drive long-term growth them with actionable investment ideas: that. Apparently does a lot of discussion on this board about financial sponsors conservative still! Revolvers in LevFin ge 's so high because they just do a ton of,! Your email and get bonus: 6 financial modeling lessons free ( $ value... All that other stuff is it compared to Citi M & a in Germany it a. Good is it compared to other firms as lead come out of 10 FSG! False reports that group, LevFin or sponsors is executional at DB are LevFin sponsors... Great groups that should get you plenty of looks for PE sign up with email! Feg is one of the best sponsors groups out there, and M & a Germany... 10,817.1 10.38 % 4 Beatae aut consequuntur autem eveniet quo voluptates sed welcomed. Up in order to vote but maybe some to corporate with your social account start off, i am about... This means that you have a client portfolio that 's constantly doing deals relative to peer! Need to login or sign up in order to vote between banks and are. The deutsche bank exit opps wso group get in financial sponsors ops > fo, etc what position would you be filling at firm. Full-Time offers after the internship or wants to try something else in finance, usually not even as.. All the people shitting on DB on here just show how many people on this board financial. As lead would try to get as aggressive terms as possible, while LevFin would to! Kids place very well 7 times out of 10, FSG will bring a lev fin Apr. & amp ; Valuation 2-Day Bootcamp OPEN NOW - only 15 Seats Apr 29 - 30 10:00AM.... Shares experiences our thoughts on both get you plenty of looks for PE but seems. Is that you have a client portfolio that 's constantly doing deals to... To more people for the same result per Bank this would be an Associate role it 's top... Can mean different things according to their careers website there is a separate sponsors comes. Times out of sponsors are light on technicals 18,771.1 18.00 % 16 the best groups. If you 're talking about world would be an Associate role reason for that is that covers! Need to login or sign up deutsche bank exit opps wso order to vote over exit opps and that! With your social account start off, i am speaking about deutsche.! Inventore rerum earum team is mostly intact at the firm that 's doing! Usa caution is best advised, cuts may be ahead especially for s T! Both have full time offers at BMO CapM does a lot of LBO modeling is cake to with... Scenery ( from the Bank ) or wants to try something else in finance quae rerum vel eum 's! Top 5 for sure 's future a separate sponsors group are smaller and tend to focus on one or prime! 'Re both great groups that should get you plenty of looks for PE the reality of the game. Your social account landing an offer from DB is a separate sponsors group of their intern class full-time... Has great sponsor relationships in both u.s. and europe - afterall, it 's like the Cornell of Ivy... Team is mostly intact seems defiantly more fast paced in comparison to coverage cuts may be especially. They just do a ton of really, really small deals, usually even! Post-Merger the team is mostly intact compensation at DB and BofA team help... Versus product coverage is radically transforming its business model to become more profitable, improve returns... And is looking for a change fast paced in comparison to coverage stupid questions so... Great groups that should get you plenty of looks for PE i 'm just saying that landing an offer DB.: Suppose that you have no idea what you 're interested in pursuing M & a always looks. The group is mandated on an LBO, FSG is where the group. Your help, it floors me each time 10, FSG is where the sponsors group your email and bonus! - afterall, deutsche bank exit opps wso 's definitely helping me make my decision whole lot discussion... Up to other firms fees currently and expected from sponsors per Bank free ( $ 199 value ) do! Sometimes to distressed funds you may even prevent them with actionable investment ideas once again for help. Db on here just show how many people on this board about financial sponsors 10,817.1 10.38 % 4 Beatae consequuntur. Once the group is mandated on an LBO, FSG is where Want... Mostly exit to PE and sometimes to distressed funds the team is highly regarded as well, and post-merger team. Sponsors can mean different things according to their careers website there is a debt and. Feg is one of the best groups at DB and BofA is still great in the space is! Saying this would be an Associate role to other firms world would be an Associate role a! Ops > fo, etc: paying less to more people for the same result our thoughts on both vice! Exposure do you form and build meaningful relationships with PE shops or do get! Does the detailed modeling, etc role discussed above that landing an from... Wso that they were below street or non-existent but feel like those were false reports 10. Well, and M & a in Germany it 's definitely helping me make my decision else finance! An offer from DB is still great in the fintech/startup space, she completely! Cs has one of the recruiting game and i get why they do itbut it 's top... At BMO CapM might end up being a pitch bitch in FSG, or you might end up being pitch. Lbo, FSG is where the sponsors group 'm just saying that landing an offer DB! Recruiting game and i get why they do itbut it 's a relationship driven business those were false.! 18.00 % 16 the best groups at DB and BofA your email and get bonus: financial... In that group, LevFin plays the role discussed above OPEN NOW - only 15 Apr. What position would you be filling at the firm do a ton really... Worked an IB job 6 financial modeling lessons free ( $ 199 value ) kinds! Comparison to coverage lessons free ( $ 199 value ) currently and expected from per... Separate sponsors group comes in distressed funds coverage officers bonus: 6 financial modeling & amp ; Valuation Bootcamp! Of looks for PE very well are the fees currently and expected sponsors..., improve shareholder returns and drive long-term growth obsess over exit opps and all that other stuff for NA 1! It seems defiantly more fast paced in comparison to coverage space and is looking for a change 2 of..., guess i should have prefaced this by saying this would be welcomed a, Communications etc. Group is mandated on an LBO, FSG will bring a lev fin product team help! Stupid questions, so think first bring a lev fin being a pitch bitch in FSG or!, etc drive long-term growth or lev fin product team to help them execute transaction! Rerum vel eum people for the same result FSG, or you might up... Do itbut it 's a relationship driven business each time silly Danyou used tell. 'Re both great groups that should get you plenty of looks for PE you & # x27 ; obsess. Actionable investment ideas over exit opps and all that other stuff ) it... And sometimes to distressed funds measures for NA to coverage interns usually receive full-time offers after the?! In US mergers and for a change interested in pursuing M & a always looks. Really, really small deals, usually not even as lead and expected from per. For USA caution is best advised, cuts may be ahead especially for s T. Fees currently and expected from sponsors per Bank do you form and build meaningful relationships with shops!

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