Evan Brainerd: Managing Director, Technology Investment Banking, William Blair

The Old Grad Story: 

Evan spent his first two years after graduation with the East-West Fellowship at the University of Hawaii, before serving his remaining commitment as a Blackhawk Aviator. After taking part in both the Iraqi and Afghani surges, Evan left the Army to pursue his MBA at Harvard Business School. On-campus recruiting at HBS helped him secure an internship within the tech group at William Blair, from which he received a full-time offer. Evan has been with William Blair for seven years, and now holds the position of Managing Director in the firm’s growing tech arm. 

Old Grad Knowledge:

One of the characteristics of advisory-focused firms that has resonated with me (at William Blair) is our long-term view. Our partnership mentality allows us to think five-to-ten years down the road, invest in each other, and also opens up trust between people. We plan to grow the pie together, and focus on fielding the best possible team, instead of focusing on individual ‘rainmakers.’ All that ties into why I’m still here and why I still find it challenging and interesting. 

Over the past several years, we’ve seen a stronger need for firms to get laser-focused and specialized and almost serve in a consultative capacity to clients. This is where the boutique firms are really pulling ahead and carving a niche for themselves. 

There’s a huge temptation to go after big brands in banking in the same way you go after them for business schools, but I think it’s more important to find the right cultural fit. Where do you find the greatest intellectual challenge? Where do you see the most room to grow? Where do you love the team around you? That becomes vastly more important than chasing after one name or the other. 

Starting off, there’s a balance to be struck between assimilating to a degree and holding on to what makes you different. Day one, you won’t be able to step in and leverage all the tools in your toolkit, but as you progress, I think you’ll find there are incredible opportunities to apply the lessons from your service. 

Lingo to Know: 

·         M&A: Mergers and Acquisitions – the practice of companies purchasing controlling stakes in other companies as part of their long-term growth strategy. 

·         TMT: Technology, Media, and Telecom – one of several key functional units present in many investment banks, with specialized services for clients in the space. Other common examples include Industrials, Consumer Products, Enterprise Applications, and more. 

·         League Tables: ranking tables that indicate the number of deals and volume of transactions that each investment-banker presided over in a given year. Beyond providing bragging rights, League Table rankings can help establish the credibility required to take on more and larger deals. 

·         Bulge Banks: larger, global, publicly-traded banks that offer a wide range of products and services across many industry groups. 

·         Boutique Banks: smaller banks that specialize in certain services and/or industry sectors. 

Breaking into Investment Banking

·         Find people who know the industry and can help; read, practice, and get the harshest feedback you can to prepare! 

·         Banks love the military background. If you can get your foot in the door, banks have confidence that you’ll perform. 

·         Cast a wide net and network like crazy! 

·         Attending a top-ten business school can be a powerful advantage during recruiting. 

·         Reach out to veteran investment bankers!