Goldman Sachs' New IBD Group

GS has just created a new IBD coverage group called "Cross Markets Group" in NY/London/Paris/Frankfurt which will focus on companies PE portfolio companies and mid-market sponsors. Any opinions on this initiative? Will the experience be comparable to a traditional GS coverage group? In Europe at least, they would probably directly compete with RS which is often praised for the incredible deal exposure for juniors despite not being active on many large-cap deals.

 
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I work in a classic group at GS and can say the Cross Markets Group is recruiting hard right now. The partners that are running it are legit and based on rumors I’ve heard about which MDs are moving over I would say it’s going to be a pretty good group. It’s also a major focus for the firm (“expanding the footprint”) so I’m sure the group will have a lot of resources to work with as they get up and running.

 

Last I spoke to someone involved (within the past month), they said the group was still hiring VPs and MDs to build it out, and that associate and analyst hiring is moving at a slower pace.

"Work ethic, work ethic" - Vince Vaughn
 

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