Los Angeles is home to some of the top investment banking firms in the country. The concentration of banking activity in LA is driven by the boom in technology, media, healthcare and other industries in the region. In 2020, the top investment banks in LA include Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America Merrill Lynch, Wells Fargo Securities, Credit Suisse, Moelis & Company, Lazard and others. These firms advise on M&A deals, IPOs, debt and equity financings across various sectors. They compete intensely to hire top talent from target schools like USC and UCLA. Candidates need to demonstrate strong analytical skills, financial modeling expertise and a stellar track record to break into investment banking in LA.
Goldman Sachs leads in investment banking fees
Goldman Sachs topped the investment banking fee league tables in Los Angeles in 2020, earning over $500 million in fees according to Dealogic. The firm advised on several marquee M&A deals and IPOs in technology and healthcare, leveraging its strong relationships across sectors. Key deals included Illumina’s $8 billion acquisition of Grail and GoHealth’s IPO. Goldman’s LA office continues to expand by hiring top bankers to increase its deal flow.
Boutiques earn high fees per banker
Boutique investment banks like Moelis, Lazard and LionTree punch above their weight in LA banking. Though smaller in overall fees, these advisors earn more fees per managing director than bulge bracket banks. Moelis advised Virgin Galactic on its $480 million merger with NextGen Acquisition Corp. Lazard advised Iovance on its licensing deal with Halozyme. Boutiques pitch their focus, senior level attention and sector expertise to win high profile mandates.
Elite schools supply top LA banking talent
The top investment banks in Los Angeles heavily recruit from target schools like USC Marshall, UCLA Anderson, Caltech, Stanford GSB and Ivy League colleges on the east coast. Candidates need to demonstrate technical skills, leadership experience and networking savvy to win internships and full time offers. Beyond academics, bankers value candidates who show teamwork, integrity and maturity under pressure during the demanding recruiting process.
LA bankers work on diverse industries
Unlike New York’s focus on financial services, investment bankers in LA work on a diverse mix of sectors including technology, aerospace, healthcare, real estate and entertainment. Working on complex deals across varied industries provides LA bankers unique deal experience and exposure to top executives. However, the hours are still long and the pressure intense for junior bankers working their way up.
Los Angeles has emerged as a hotbed for investment banking activity. The top firms fiercely compete for market share and the best banker talent. Candidates who can balance technical skills with executive presence will thrive in LA’s dynamic banking ecosystem.