Nathan Dey -- Republic Partners, Chicago
Nathan Dey
Republic Partners – Chicago
and Financial Markets Institute Friend
MSU – Finance (2005)
Nathan Dey knew he wanted to pursue a career in finance well before he came to Michigan State University, but a career in investment banking hadn’t crossed his mind. Having come from a smaller town, Nathan initially considered working in corporate finance and had his opportunity as an intern for DaimlerChrysler in Treasury.
His internship opened his network to include several investment bankers, which ultimately stirred his appetite for a career on Wall Street. After graduating from MSU, Nathan went to New York City to work for Banc of America Securities in their two-year investment banking analyst program. His hard-work and participation in several prominent deals earned him a third year offer to head to London with Bank of America to assist in deal execution and the further development of other junior analysts.
Although he was pleased with his growth and the opportunity that existed with Bank of America, Nathan decided not to pursue an offer to be promoted to Associate, a position typically offered to post-MBA graduates. From his experience at the bulge-bracket bank, he learned he wanted to pursue a career in a more traditional advisory role that a boutique investment bank could offer. During a dinner party at the end of his third year at B of A, Nathan was part of a team that accepted an award for the financing of the Cadbury Schweppes de-merger of the Dr. Pepper Snapple Group – the 2008 Bank of America Deal of the Year. As luck would have it, at this dinner party Nathan met a contact that would connect him with the President and Managing Director of Republic Partners, Inc. a Chicago-based firm.
A boutique M&A firm that specializes in shipping and logistics industry, Republic Partners is comprised of only three full-time professionals, including Nathan. The smaller platform has been a launching pad for Nathan to augment his analytical skills with a great deal of client interaction and strategic thinking. Not only are they involved in the execution of transactions for their clients, but they believe that to be a true financial advisor you need to treat your relationships with clients as a partnership in which it is in a mutual best interest to execute smart transactions, not simply any transaction.
Nathan has yet to experience any slow down of learning, as some might presume in such a small firm, as his business partners are a Wall Street veteran and an experienced consultant. In fact, as his partners have been focused on developing and growing the firm, Nathan has had an opportunity to play an important role in assisting to modernize some of the firm’s processes and resources so that as they grow, Republic Partners will have access to the best tools available for the most efficient processes possible.
When asked how his field is changing, Nathan believes that instead of corporations heading to a large bank for one-stop banking needs, there will be a return to boutique firms that specialize in true M&A advisory.
“The repeal of the Glass-Steagall Act in 1999 opened the door for the universal banking model,” said Nathan. “Although it was a great idea in theory, the lack of accountability at certain levels within these large firms created an environment where the client’s best interest may not have been taken into consideration. Deals were being done for fees with little concern for the resulting impact. We find that Republic’s clients are seeking a more personal approach to their advisory needs and our small size and culture of working in their best interest resonates well in this down-market.”
There are many different paths to landing a position at a boutique firm. Nathan recommends that those still in school take advantage of MBA and other graduate coursework, become active in several student organizations, work hard to grow a professional network, and learn how to effectively balance many different tasks simultaneously.
These are the qualities that Republic Partners looked for this past fall. Nathan was able to convince his managing directors of the talent to be found at Michigan State University, and one of our FMI students will be joining the firm as an intern this summer. It is wonderful to see the various ways an alum can give back to the program at MSU, including assisting in on-campus recruiting efforts.
For those currently in the job search, it is equally beneficial to learn and grow with a large firm, such as Bank of America, as well as to begin with a smaller boutique firm that has a program in place for new graduates. In either case, chase your passion, and with it you will find success.