Pon De Replay, How to Showcase Hung Deals on Your Resume – Weekly IB Recruiting Brief

"May your coffee be strong and your Monday be short." - Anonymous

Good Morning,

• Although deal flow seems to have picked up a bit, most banks are still tentative on the recruiting front. Many BBs (Bulge Brackets) and EBs (Elite Boutiques) are taking a wait and see approach as they digest their (huge) new hire classes from last summer. Unfortunately, second quarter IB revenue has not been strong (see Citi earnings below) and I expect the bonus pool to be down substantially. There may be some natural attrition as folks shift their job search to outside of IB. One shining area in recruiting is RX. I have a couple of fantastic openings for experienced restructuring professionals. I also have a couple of new roles in for HC/Pharma Services, HCIT and Medtech. See below!?
• ?The Justice Department "is nearing a decision" on whether to challenge Thoma Bravo's proposed $2.3 billion?take-private buyout?of identity management firm ForgeRock. Neither DOJ nor the FTC have ever sued to block a private equity transaction of this size, instead playing around the edges by focusing on?things like?partners sitting on multiple board seats within the same industry. In fact, the most significant U.S. antitrust action in recent memory on a PE deal came last year when the FTC?forced?a JAB Investors portfolio company to divest 16 veterinary clinics it acquired via a $1.1 billion bolt-on.
• Citi’s M&A fees?tumble by 55% in ‘disappointing’ second quarter.?"The long-awaited rebound in investment banking has yet to materialize, making for a disappointing quarter," Citigroup chief executive Jane Fraser said in a statement.?BAC’s second-quarter results are scheduled to be announced on Jul 18.
• Santander?is accelerating growth of its investment bank by hiring at least 50 bankers primarily in the US. The recruitment is being overseen by the head of Santander Corporate and Investment Banking, Jose M. Linares, also a former JPMorgan banker. The hires will be focused in areas including leveraged finance and corporate services for multinational companies with a presence in Europe and Latin America.?(Reuters)
• MS has hired senior investment banker Marco Caggiano from JPM, where he led the bank's North America mergers and acquisitions (M&A) business. Caggiano, a veteran investment banker who spent 23 years with JPM, will join MS as vice chairman of M&A. (Yahoo Finance)?MS has also hired veteran investment banker Daniel Cohen from Truist, where he was the head of the firm's healthcare services advisory business.

Thank you again for attending our recent webinar, "Mastering Investment Banking Resumes: Pro Tips for the Modern Job Hunt," hosted by Meridith Dennes, Managing Partner of Prospect Rock Partners. We hope you found the session informative and valuable.

In case you missed any part of the webinar or would like to revisit the content, we are pleased to provide you with the?replay.?

??How Prospect Rock Partners Can Help???

This is not the market to have a meh, outdated resume. A well-crafted resume can help you control the narrative and target the "story" you want to tell during the interview process. If fixing up your resume seems overwhelming and you don’t know where to start, I can help.?

We also offer affordable 1-on-1 career counseling sessions. Net, net we can help negotiate an offer, craft a story or help figure out what is going sideways in your recruiting process. Happy to chat. Prices start at $399.

How to Showcase Your Hung Deals Experience in Investment Banking

“Hung deals” refer to investment banking transactions that couldn’t be closed for various reasons. Despite not being successfully completed, these transactions can still provide valuable experience, as they often involve complex negotiations, financial modeling, and due diligence, amongst other skills. You may want to include hung deals on your resume, especially if you’re new to the field and don’t have a lot of other deals to showcase.

Navigating Recruitment for an Investment Banking Job in a Challenging Job Market

In an ideal world, we would all land the perfect job in a thriving market that aligns perfectly with our skills and passions. However, reality often throws us curveballs, and sometimes we find ourselves accepting less-than-ideal positions in unfavorable job markets out of sheer necessity. While this situation may be disheartening, it’s crucial to remember that a less-than-perfect job can still provide valuable experiences and opportunities for personal growth. In this blog, we will explore the journey of taking a not-so-perfect job in a bad market and how it can contribute to your financial stability and future success.

Hot Jobs 7/17

Please PM me on?linkedin?or shoot me an?email?if you want to learn more about a specific role. Must have at least 1-year prior IB M&A experience. Visas (H1Bs, Stem, L1s, TNs) are tough in this market. No Recent Grads. Lateral hires only.?

Investment Banking VP1/2 Restructuring (Elite Boutique)

?New York, NY, United States

Sr. Accountant - Prestigious NYC Law Firm

New York, NY, United States

Investment Banking Associate 2/3, Pharma Services (Elite Boutique)

New York, NY, United States

Investment Banking Associate 2/3 - Healthcare Services M&A Elite Boutique

New York, NY, United States

Investment Banking Vice President 1/2 - Healthcare Services M&A (Elite Boutique)

New York, NY, United States

Investment Banking Technology M&A - Vice President (Elite Boutique)

San Francisco, CA, United States

Investment Banking Recruiter Healthcare Sector (Executive Search Firm)