September 29, 2017
There is light at the end of the tunnel for corporate financiers who specialise in technology. Their sector is moving back into fashion and companies are in hiring mode.The head of technology mergers and acquisitions (M&A) at one European bank said the outlook for technology bankers has improved dramatically over the past six months: "Things are looking up big time. Technology initial public offerings and M&A volumes are both rising."
He said new staff are particularly needed to cater for the rise underway in new issuance: "Equity pitches are very labour intensive. M&A is also getting busier, but it is less labour intensive and fewer additional staff are required.'
In a sign of the improving climate, Credit Suisse First Boston completed a [pounds sterling]55m flotation of Ark Therapeutics in February, in the largest European biotech IPO for three years.
Meanwhile Deutsche Bank poached 10 technology bankers from CSFB for its US technology team. The London-based corporate finance boutiques Amethyst Corporate Finance and Cobalt Ventures both recruited technology specialists in March.
HSBC appointed a CSFB technology specialist, John Jacobs, as head of technology investment banking, a move which headhunters expect to result in additional team hires.
Headhunters said Morgan Stanley, Lehman Brothers, and Deutsche Bank are recruiting technology specialists in Europe and the US.
