Advice

Take 10 with Andy McEnroe

1. You joined RJ back in 2015 as a vice president. Walk us through how the firm and your team has evolved in the past nine years.

The firm and our team have both grown tremendously over the last nine years. When I joined Raymond James, it was a domestic investment bank and now it is a global franchise covering all aspects of the economic landscape. Within our Defense & Government team, we have more than doubled our team to account for the increased level of activity in our group and sector. We have successfully grown bankers from the junior ranks to senior level positions and have expanded our recruiting base to ensure that we are hiring top tier talent. In addition, we have created one of the most successful, memorable, knowledge focused, annual conferences within the Defense & Government market. This conference enhances our brand and allows us to showcase industry luminaries, impactful companies, and discuss the most salient themes affecting the market over the last 12 months. An added benefit of the conference is that it takes place at Nationals Park and, as a result, all conference attendees get the chance at the end the day by partaking in live batting practice on a Major League Baseball field.

2. What made you commit to RJ and how do you think RJ supported your growth?

Raymond James is a growth-oriented platform. The organization continues to build the investment bank through strong hires and great marketing. Raymond James has invested in senior banker training and provided our Defense & Government team with the necessary resources to be able to take market share from our competitors.

3. What skills do you consider essential for success in investment banking?

• Work ethic
• Communication
• Being a good team player
• Consistent learner / intellectual curiosity
• Time management

4. If you could give your “analyst self” one piece of advice, what would it be?

Take the opportunity to build your network within the organization and externally in your covered market earlier in your career. Often as an analyst, one gets bogged down in the day-to-day tasks, but professional networking can be a value multiplier as a banker progresses into a new business development focused role.

5. What excites you about the defense and government space and how has it evolved?

Our focus in the Defense & Government market is at the intersection of technology and government priorities. In national security, there is an on-going pivot away from counterterrorism focused capabilities to peer / near-peer oriented technologies and solutions. Within information technology / networking sector, the government is focused on creating cloud and mobility-oriented solutions to provide for a more effective / efficient operation. As a result, government agencies are investing in next generation tools, services and capabilities to enhance effectiveness globally. The development and deployment of innovative technologies such as autonomy related unmanned systems, artificial intelligence, cyber, cloud, electronic warfare / signals intelligence and mobility technologies / capabilities, to name a few, are fueling a new generation of clients that are seeking capital or pursuing M&A.

6. Your group has seen significant deal momentum recently. Tell us about a company you admire or a recent deal you find interesting.

We have been fortunate to work with outstanding clients that are supporting critical national security missions. While it would be nearly impossible to single out just one of our clients given that the work they do, it is critically important to support the nation’s efforts to keep us safe and free, firms such as BlackLynx, BlackHorse, Epiq Solutions, Resolute, Innoplex, and Ridgeline, are providing innovative services, technologies, and solutions which ensure our safety and security as Americans. In a very small way, we at Raymond James are doing our part through capitalism to help keep the world secure by working with our clients to explore inorganic growth opportunities to proliferate the next generation of capabilities across a wider audience of users.

7. Tell us about your pitch style and the Andy McEnroe way.

I would describe my style as prepared, team-oriented and methodical. I am firm believer that you need to have a plan to achieve an objective. The best plans often involve teamwork with an amalgamation of ideas. With that being said, “no plan survives first contact,” and that’s where having prepared “beyond the script” and demonstrating the ability to be flexible or “call an audible” to answer a question or address a situation that may not have been in the initial plan is critically important in investment banking. I will also stress there is no substitute for hard work and there are no shortcuts in building relationships with prospects or clients.

8. What has been the most impactful moment in your investment banking career?

It is incredibly challenging to pinpoint just one moment in my career that has been the most impactful. I am incredibly fortunate to have worked with a great team of bankers over the last roughly two decades and to be able to support the national security community. It has been an honor to help those that have served our country and continue to serve through the establishment of businesses focused on this customer set, raising capital or going through a merger and acquisition process.

9. What has been your biggest career challenge?

Investment banking is not an easy career. The biggest challenge for me is navigating how to be the family man that I want to be with a wife and two boys (5 & 1) at home and still deliver outstanding service for my clients. There isn’t an easy answer on how to make that work. Thus far, I have found that communication with my wife, coupled with appropriate time management on the personal and professional fronts, is crucial to navigating this challenge.

10. How do you celebrate wins/successes at work?

As a former athlete, it would be great if we could pour a “Gatorade bath” on our team after winning a big pitch or closing a deal but I think that may be frowned upon by building management. As our team has been incredibly busy over the last three years, we have found opportunities to celebrate our team’s success through office outings and in-office celebrations. I hope that we continue to find new ways to celebrate our successes in the months and years ahead!

11. Lastly, tell us some non-career related fun facts about yourself!

• Prior to having our second child, I was the play-by-play radio announcer for Washington & Lee University (my alma mater) football broadcasts.
• I am currently serving as the head coach for the Arlington Babe Ruth Purple Pirates – my five-year old son’s t-ball team!
• In the summer, on Sunday evenings, I am the second baseman for the Arlington Arsenal, a DC Men’s Baseball league team.