Los Angeles is home to a vibrant financial services industry, with many major investment banks having a presence in the city. As an investment banking analyst, LA offers exciting career opportunities to work on complex deals and interact with high profile clients. This article will provide an overview of the top investment banks in Los Angeles and tips for students on how to land analyst roles at these prestigious firms. We’ll cover which banks dominate M&A, IPOs, and other advisory work in LA, as well as insider advice on networking events, informational interviews, and the recruitment process. Whether you go to USC, UCLA, Caltech or other local universities, understanding the LA investment banking landscape is crucial to launching your career.
Bulge bracket banks lead in M&A deal volume
Los Angeles has long been an important market for the bulge bracket investment banks like Goldman Sachs, Morgan Stanley, and JP Morgan. These global banks have had a major presence in LA for decades and regularly advise on M&A deals and IPOs for California based clients. For example, JP Morgan has been involved in deals like the sale of Ancestry.com to Blackstone Group for $4.7 billion dollars in 2021. Goldman Sachs meanwhile advised on Chart Industries’ $4 billion acquisition of Howden from KKR & Co. Bulge bracket banks also consistently rank at the top for US M&A deal volume league tables in Los Angeles. So getting an investment banking analyst role with a top tier bank provides the opportunity to work on marquee transactions across technology, media, healthcare and other key sectors.
Boutiques known for strong technology expertise
In addition to the large banks, Los Angeles is home to several specialized investment banking boutiques with renowned technology expertise. Qatalyst Partners for instance has carved out a niche advising tech companies on strategic transactions and private placements. The firm’s reputation stems from its work on deals like LinkedIn’s sale to Microsoft and AMD’s joint ventures in China. Other leading boutiques like Component Partners, Burkland Associates, and Velocity Partners are active advising lower middle market companies across software, digital media, e-commerce and other tech enabled businesses. Analysts at these firms gain valuable experience on a wide variety of assignments given the rapid pace of the deals. They’re also exposed to senior bankers earlier on in their careers compared to larger banks.
Boutique restructuring shops thrive in downturns
With markets facing increased volatility, restructuring boutiques also present compelling analyst opportunities in LA. Houlihan Lokey, the leader in distressed M&A and restructuring, is headquartered in the city. Analysts rotate through various restructuring groups, learning credit analysis and financial modeling skills on complex Chapter 11 bankruptcies and reorganizations. Other notable restructuring firms including Danning, Gill, Diamond & Kollitz, Conway MacKenzie, and SierraConstellation Partners also actively recruit analysts locally. Restructuring deals tend to increase during downturns, so these specialized groups provide excellent training as well as strong job security.
Alumni networks and informational interviews are key
For students aspiring to investment banking in Los Angeles, utilizing alumni networks and informational interviews is critical. Reach out to alumni in LA from your university through LinkedIn outreach or campus clubs. Ask to learn more about their career experiences and seek their advice on breaking in. Attend info session and networking events on campus hosted by banks – these allow you to introduce yourself and make an impression. Also be active in finance clubs or competition teams to polish technical skills and share interests with recruiting teams. Persistence and relationship building early on is key to getting a full time offer in Los Angeles out of undergrad.
In summary, Los Angeles offers exceptional investment banking opportunities across bulge bracket banks, specialized boutiques and restructuring firms. Standing out requires leveraging alumni connections, acing interviews by demonstrating regional knowledge, and articulating why you’re passionate about LA as a long term destination. Securing a top analyst role allows you to work on impactful assignments while enjoying the Southern California lifestyle.