Word: broadview
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...Yadin Shemmer is sprawled on the couch with his morning orange juice, looking crisp in a blue dress shirt, khakis and slicked-back hair. After graduating from the University of Pennsylvania in 1998, Yadin moved to the city to work as an analyst for Broadview, a boutique investment bank specializing in high-tech firms. There are thousands of young people like him in New York, working a two-year stint in finance, sporting dress shoes and bulging billfolds. From the outside it looks like the lifestyle of a GAP ad--urban excitement plus youth plus heaps of money...
...uniform in his closet. A psychology major at Penn, his only real business experience in college came almost by chance: one summer he found a job at an Israeli Internet start-up, as a secretary, but the strapped company promoted him on the second day. Shemmer's job at Broadview was equally unplanned. Unlike better-known investment banks, Broadview limits its business to the high-tech sector--Internet start-ups, Web-based companies, computer firms. Broadview's partners and analysts advise those tech companies on mergers and acquisitions, from finding potential targets for mergers to negotiations to finessing the final...
...analysts I meet emphasize how laid-back Broadview is. "My hours are better than my friends at any other bank," Shemmer says--a mere 75 or 80 hours a week, compared to as much as 100 at larger banks. At the biggest firms, the partners conduct "bed checks"--stopping by each cubicle at 9 p.m. to make sure analysts are still at work. At Broadview, I'm assured, you might even get out the door by 7 on a good day. The style is strictly "business casual," which means no one under 30 wears a tie. Shemmer stresses how friendly...
...Shemmer sings the praises of the investment banker's life, we're speeding in a cab across the George Washington Bridge into New Jersey. Broadview's "New York" office is actually in Fort Lee, N.J.--not exactly Wall Street. One analyst tells me later that "it's nice to be in a suburban area. It has its advantages--it makes a more relaxed attitude at work." "Relaxed" isn't the first word that springs to mind, though. The office is in a bland white building overlooking the interstate on one side and a busy street lined with fast-food restaurants...
...crisis defused, Shemmer turns to one of his personal tasks, maintaining Broadview's restricted list of stocks. If any employee gains inside information about a stock, no one at Broadview can trade it. Shemmer is responsible for maintaining the restricted list, which changes hourly. The list reads like a who's-who of the technology industry. (Insider information could be a significant problem for an investment bank: Even in the course of researching this article, I learned about several upcoming mergers that could have netted a well-timed profit on the market...