William Blair is cutting up to 100 staff before hiring some new ones
Boutique investment bank William Blair is cutting staff ahead of this summer's intake of new analysts and associates.
Instagram account Litquidity claimed yesterday that William Blair cut bankers across infrastructure, TMT, communications and healthcare.
William Blair isn't commenting on the cuts. We understand they are impacting fewer than 100 of the bank's 2,100 staff in Europe and the US and that they're in preparation for the coming summer recruitment cycle, when the bank adds new juniors.
The cuts come after William Blair increased salaries for first year analysts to $110k in 2021 from $85k in 2020. H1B salary information indicates that salaries haven't increased again since then.
William Blair appears to be slowing external hiring to its investment banking team. However, it added Chris Mitrano as a managing director in sales and trading from SunTrust Robinson Humphrey in December 2022, based in New York. This year's London hires include Kiara Mitchinson from Barrenjoey in financial sponsors.
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