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Mate... in NO world are RBC and Nomura elite or boutiques. Not being a dick either - RBC is a balance sheet bank.
So in regards to my question…can you comment on their deal flow, culture, etc regardless if they are elite, boutique, or neither?
RBC tend to get on a good infra deal every now and then. Nomura has a good S&T arm in Aus - I'd assume their IB is purely just balance sheet tho.
So Nomura isn't well regarded for IB, specifically M&A? I have heard they do a lot of private deals with sponsors due to their BS capabilities and strong LevFin divisions.
Honestly, none of those banks would be considered EBs. Of the banks you mentioned, Greenhill is renowned for being a bit of sweatshop.
Would you know what their presence in Aus is like? Would any of them be worth going to?
GHL definitely has a solid franchise in Australia (Melbourne/Sydney) and should still be a good place to learn M&A compared to the rest on your list (probably pay better than the rest as well). Not shitting on Nomura/RBC but it's inaccurate to label them as EBs...
Know nothing about Rothschild in Australia so can't comment.
Rothschild typically only has experienced hires and rarely hires grads.
Imo doesnt matter where you start out given how much movement there is in Aus IB.
RBC Infra team good deal flow but hours are insane, Nomura WLB alright but not much deal flow from my understanding, GHL have an insanely small team so would be a great opportunity to get thrown in the deep end on deals as an AN1.
Heard GHL analyst pay is awfully below market, cannot comment on their culture. Hours are bad aswell.
Green hill use to be considered an elite boutique I guess but people don’t call it such anymore. Because most people are in the states on this site, Rothschild also isn’t considered an EB even though abroad jt has a powerful reputation.
If you would’ve mentioned FT partners - that would’ve been more accurate
Does the term EB even apply to Australia?
Greenhill and RBC are the strongest out of the firms you mentioned. Roth’s just lost one of their key MDs (went to Luminis) recently and I don’t see them on many deals at all frankly. Think Nomura is mostly debt (in IBD) and I also don’t see them on much here.
Note I’m a 2nd year analyst in Sydney that doesn’t work at these firms so hopefully that’s a very general (and unbiased) perspective. Getting into IB in Sydney is hard given how many graduates/big 4 CF guys want to do it and how few seats are available at entry level - any of the above firms would be great to start at but if I had my choice of the four I’d go with RBC and pray you get into their infrastructure or NatRes coverage teams so you do some actual deals.
Hope that helps and good luck 👍
Greenhill is a pretty good EB in Australia. They've been mandated on a number of prominent high-profile assignments and have a good leadership there. Rothschild does mainly MM M&A but is still considered an excellent shop (not as good as their status in EUR but a good place to work at for M&A deals and reps). I'd also highlight Lazard, that has an active team here (Culture is a bit sweaty from what I heard. Pay is good).
Other than these, Evercore and Moelis have some presence in Sydney/Melbourne through strategic alliances. They are also pretty active, and do a range of M&As from MMs to multi-billion dollar deals.
Got an intel on what the analyst comp is like at GHL aus? Would be interesting to see the bonus figures aswell
bump
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