[Jakeh]

Hey all,

Anyone else make it to second stage with this firm? Seems a really nice company and looking forward to my presentation and interview. I've only seen one post here before so not really sure if anyone else here would have applied?

[uthinkilltellu]

Small fish, but make enough to stay in business.

[Samtheman1]

(Original post by uthinkilltellu)
Small fish, but make enough to stay in business.

Not that small. Doing exceptionally well considering the difficult market. Obviously not anywhere near BB but a cut above all other small/mid cap banks.

[davidblue111]

(Original post by Samtheman1)
Not that small. Doing exceptionally well considering the difficult market. Obviously not anywhere near BB but a cut above all other small/mid cap banks.

Very tiny in terms of revenue and deal size. From what I hear a great office, but nothing more. The likes of Redburn are miles ahead.

[Samtheman1]

(Original post by davidblue111)
Very tiny in terms of revenue and deal size. From what I hear a great office, but nothing more. The likes of Redburn are miles ahead.

Revenues are quite strong given the current market, (the mining team turn over some big cheques). In terms of calibre of people, turnover, and number of staff they are ahead of Redburn. Their research team for example has over 35 in headcount which is on par with Investec - so no, sorry not tiny in revenue or behind Redburn.

[M1011]

(Original post by uthinkilltellu)
Small fish, but make enough to stay in business.

Why post this? It has no relevance to the original post.

No need to put down other peoples opportunities just because you don't like it..

[Jakeh]

(Original post by Samtheman1)
Revenues are quite strong given the current market, (the mining team turn over some big cheques). In terms of calibre of people, turnover, and number of staff they are ahead of Redburn. Their research team for example has over 35 in headcount which is on par with Investec - so no, sorry not tiny in revenue or behind Redburn.

That's what I thought; I've been really interested and its a nice boutique firm. I wasnt very successful with the bigger banks, but I've taken a shot here, glad theres someone else who think's they're a decent firm.

[davidblue111]

(Original post by Samtheman1)
Revenues are quite strong given the current market, (the mining team turn over some big cheques). In terms of calibre of people, turnover, and number of staff they are ahead of Redburn. Their research team for example has over 35 in headcount which is on par with Investec - so no, sorry not tiny in revenue or behind Redburn.

Their revenues have fallen and costs have risen dramatically. The large research headcount means nothing without earnings. Revenues of sub £40m and a pre-bonus of c£10m from c160+ people is tiny. They do have a good mining team but do not "turnover some big cheques". They had negligible in the big deals they were on, like Glencore, and got very small fees. So to say they are above some of the other very profitable small and mid banks is just wrong. (And yes Redburn is much more profitable).

That's not to say they are a terrible place to start, there are worse out there. I have a very good friend there who tells me its a great place to work but definitely has its issues.

[Samtheman1]

(Original post by davidblue111)
Their revenues have fallen and costs have risen dramatically. The large research headcount means nothing without earnings. Revenues of sub £40m and a pre-bonus of c£10m from c160+ people is tiny. They do have a good mining team but do not "turnover some big cheques". They had negligible in the big deals they were on, like Glencore, and got very small fees. So to say they are above some of the other very profitable small and mid banks is just wrong. (And yes Redburn is much more profitable).

That's not to say they are a terrible place to start, there are worse out there. I have a very good friend there who tells me its a great place to work but definitely has its issues.

Firstly, you wouldn't know what their profits are as they aren't public. Secondly, the Glencore deal was scrapped over by every bulge bracket and Liberum got a sizable chunk - so to say it was tiny just shows how little you know. The mining team has a serious amount of corporate clients and will most likely be no1 rated at extel next month. I actually know first hand that Redburn aren't doing very well (not that that means much in the current climate) and are definately not doing anywhere near as well as Liberum. Without labouring on the point too much, could you ever see Redburn having a piece of the Glencore deal? In fact, how many corporates does Redburn have??

[Jakeh]

(Original post by Samtheman1)
Firstly, you wouldn't know what their profits are as they aren't public. Secondly, the Glencore deal was scrapped over by every bulge bracket and Liberum got a sizable chunk - so to say it was tiny just shows how little you know. The mining team has a serious amount of corporate clients and will most likely be no1 rated at extel next month. I actually know first hand that Redburn aren't doing very well (not that that means much in the current climate) and are definately not doing anywhere near as well as Liberum. Without labouring on the point too much, could you ever see Redburn having a piece of the Glencore deal? In fact, how many corporates does Redburn have??

You seem to know a lot here. Do you think liberum is a good place to start a career in IB? The company seems to suite me a lot, I like the work ethic and the feel of a 'smaller' team.

[davidblue111]

(Original post by Samtheman1)
Firstly, you wouldn't know what their profits are as they aren't public. Secondly, the Glencore deal was scrapped over by every bulge bracket and Liberum got a sizable chunk - so to say it was tiny just shows how little you know. The mining team has a serious amount of corporate clients and will most likely be no1 rated at extel next month. I actually know first hand that Redburn aren't doing very well (not that that means much in the current climate) and are definately not doing anywhere near as well as Liberum. Without labouring on the point too much, could you ever see Redburn having a piece of the Glencore deal? In fact, how many corporates does Redburn have??

This is the last time I respond on this issue. YOU don't know their profits, I do. Like I said a great friend of mine works there and they updated employees monthly on the progress of the company (so I do know the figures). And from here I can tell that they did not get a sizeable chunk - despite your guess work. They won that on the back of one extremely well connected person. Second Redburn don't do CF, yet still make more than Liberum. (I don't understand why you argue with facts nor your insistence on their fees.)

Finally to the OP, I think Liberum is a great place to start. You'll learn a great deal and get much more exposure than some other places. Plus its a fun/relaxed place from what I'm told, and at the junior level overall profit of the firm wont affect you too much anyway. I simply think to say they are above all other small and mids is wrong and needs correcting - that's it.

I do hope you're interviews go well! Remember with small firms, they put emphasis on personality.

[Teenage Pirate]

Sounds kind of like Samtheman1 works at Liberum Capital.

Also, you don't know the revenues? I'm having a hard time understanding just what the hell it is that you do in finance... Private companies also have to publish accounts, you know? Turnover in the 12 months to 31/12/2011 was £37,726m, just as davidblue111 said.

[Teenage Pirate]

Also, look at any research rankings and Redburn are better.

And as davidblue111 wisely said, it's a good place to start a career IF you can't make it to a bulge bracket bank or "elite" boutique. Same work, smaller deals. Except maybe in ECM, where the lead manager role that Liberum gets is different to the bookrunner type roles that BBs do (though the pitching process will still be very similar). Not sure how different Liberum's bookrunner roles on small AIM deals will be to MS running Glencore, but you'll at the very least understand how the process works.

[Jakeh]

(Original post by Teenage Pirate)
Also, look at any research rankings and Redburn are better.

And as davidblue111 wisely said, it's a good place to start a career IF you can't make it to a bulge bracket bank or "elite" boutique. Same work, smaller deals. Except maybe in ECM, where the lead manager role that Liberum gets is different to the bookrunner type roles that BBs do (though the pitching process will still be very similar). Not sure how different Liberum's bookrunner roles on small AIM deals will be to MS running Glencore, but you'll at the very least understand how the process works.

Excellent, this is what I want. I don't have a particularly good shot at BB or elite's due to me graduating from UEA (not impossible just very difficult); I have an offer to do Finance and Investments at RSM for next year (if this falls through); but I feel working at Liberum is more beneficial than a MSc.

[Teenage Pirate]

(Original post by Jakeh)
You seem to know a lot here.

Take it from someone who's had the misfortunate of arguing with this guy before: he does not. Davidblue111 and uthinkilltellu are much more knowledgeable on the matter.

[Teenage Pirate]

(Original post by Jakeh)
Excellent, this is what I want. I don't have a particularly good shot at BB or elite's due to me graduating from UEA (not impossible just very difficult); I have an offer to do Finance and Investments at RSM for next year (if this falls through); but I feel working at Liberum is more beneficial than a MSc.

Sorry, I said hte pitching process was similar. This is not true - what I meant to say was that the pitching process is similar for small deals and big deals. Liberum will probably not be invited to pitch for a large deal, they'll have to fight for a different role on the deal in ways that I don't really know.

But yes, I would take this over a masters. One year of this and you're more eligible for BB grad schemes than after a masters. But it's not like you might not enjoy the role and want to stay on at Liberum either, it's a solid banking job

[KLL]

(Original post by davidblue111)
. The large research headcount means nothing without earnings.

This. RBS had a massive research franchise that got them nowhere.
Liberum as a firm sounds good, esp. as a learning experience and to get decent deals on the CV. But I remember reading somewhere they had a bonus/salary cap of 300k. Not that its a concern for the first few years.
But really depends on your alternatives and what way you want to take your career. You'll likely get pidgeonholed.

(Original post by davidblue111)
They won that on the back of one extremely well connected person.

That generally is almost exclusively the reason why an IB wins any mandate.

[Jakeh]

(Original post by Teenage Pirate)
Sorry, I said hte pitching process was similar. This is not true - what I meant to say was that the pitching process is similar for small deals and big deals. Liberum will probably not be invited to pitch for a large deal, they'll have to fight for a different role on the deal in ways that I don't really know.

But yes, I would take this over a masters. One year of this and you're more eligible for BB grad schemes than after a masters. But it's not like you might not enjoy the role and want to stay on at Liberum either, it's a solid banking job

Exactly; my thought process is just to go and learn with some hands on experience. I did an internship at JPM-AM and i enjoyed that and this is just a new step up for me. And i'm not looking much further in the future yet, im just excited about this prospect.

[KLL]

(Original post by Jakeh)
Exactly; my thought process is just to go and learn with some hands on experience. I did an internship at JPM-AM and i enjoyed that and this is just a new step up for me. And i'm not looking much further in the future yet, im just excited about this prospect.

Go for it mate. You can always do a masters afterwards. (1 year contract right?)

[Jakeh]

(Original post by KLL)
Go for it mate. You can always do a masters afterwards. (1 year contract right?)

Yeah unless they offer me a full time contract!