Heard its insurance vertical is quite strong - led by Jawad (ex Lehman) and he had one of the best track record in several niche verticals within insurance including group benefit and life. Recently announced several capital raising and the Farmer deal (advised Resolution).

 

Do you know what the exit ops from the group are like? How does the insurance group place for PE specifically, considering that it is a strong team?

 

Citi's insurance team has been historically pretty strong (historically top 5, maybe more top 10 now). We've co-advised with them a bunch of times. However, there is a lot of turnover constantly. I remember two deals, which were dragging on for a bit, where both of Citi's entire deal teams (execution MD down) had turned over before they closed. That being said, they always seem to bounce back, probably just a good platform franchise and reputation.

Analysts always exited pretty strong. They would end up at a variety of the top FIG funds.

 

heard from someone there they are waived to work Saturdays 1x a month 

 

Great group, definitely one of the stronger franchises at Citi. Group is broken down into three verticals: Banks/specialty fnce/diversified, insurance/AM, fintech.

Fintech is a growing group (group only really started 4-5 years ago) and is now quite large. Great people and have closed some huge deals in payments including Evo and worldpay. 

Insurance has plenty of deal flow but is a bit more of a sweat shop. 

Banks has seen better days with a large chunk of their spec fin and div fnce divisions leaving for DB.  

 

Recent exits honestly didn’t seem too strong. Saw one go PE and a few to corp dev. People there were nice though, long hours tho

 

I wouldn't join Citi until they're done cutting bodies en masse but do you. 

 

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