Barclays Capital Markets vs. Morgan Stanley Capital Markets
IB
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(Chimp, 6
Points)
on 9/27/10 at 2:51pm
How does Morgan Stanley's capital markets compare with Barclays Capital's capital markets?
Is Morgan Stanley capital markets < Barclays capital markets? I know that BarCap has many strong capital markets groups, but what are MS's dominant groups?
Any insight would be great.





Both great operations. Pick
Both great operations. Pick whichever one where you like the people better (very diff cultures).
Morgan Stanley Said to Freeze
Morgan Stanley Said to Freeze Investment-Bank Hiring
Sept. 27 (Bloomberg) -- Morgan Stanley, the sixth-largest U.S. bank by assets, froze hiring at its investment-banking division for the rest of 2010, a person briefed on the decision said.
The firm ruled out layoffs through the end of the year, the person said, speaking anonymously because the matter hasn’t been publicly disclosed. Jim Wiggins, a spokesman for Morgan Stanley, declined to comment on the hiring freeze. He said the company intends to hire brokers for the Smith Barney unit, a joint venture with Citigroup Inc.
The freeze, which includes the New York-based firm’s sales and trading units, comes as weak trading and equity underwriting volume may lead the five largest Wall Street banks to post their lowest revenue from investment banking and trading since the fourth quarter of 2008. Bank of America Corp. is firing as many as 400 employees in its global banking and markets division, a person briefed on the matter said last week.
Companies including Barclays Capital and Credit Suisse Group AG also have started reducing staff in Europe. Securities firms around the world will cut as many as 80,000 jobs in the next 18 months as revenue growth begins to slow, bank analyst Meredith Whitney of Meredith Whitney Advisory Group LLC said in a report dated Aug. 31.
Seven analysts including Richard Staite at Atlantic Equities LLP in London cut third-quarter earnings estimates for Morgan Stanley in the last two weeks, citing weak trading in the quarter. The average estimate is 43 cents a share, down from 57 cents, according to 20 analysts in a Bloomberg survey.
Morgan Stanley added about 400 employees to its sales and trading business since June 2009. The firm’s headcount was 62,926 at the end of June, up 3 percent from a year earlier.
Morgan Stanley declined 5 cents, or 0.2 percent, to $25.10 at 3:09 p.m. in New York Stock Exchange composite trading. The shares are down 15 percent this year.
Fox Business News reported the decision to freeze hiring earlier today.
To contact the reporter on this story: Michael J. Moore in New York at [email protected] .
To contact the editor responsible for this story: Alec McCabe at [email protected] .
Find out more about Bloomberg for iPhone: http://m.bloomberg.com/iphone/
GutShot wrote: Morgan Stanley
Morgan Stanley Said to Freeze Investment-Bank Hiring
Sept. 27 (Bloomberg) -- Morgan Stanley, the sixth-largest U.S. bank by assets, froze hiring at its investment-banking division for the rest of 2010, a person briefed on the decision said.
The firm ruled out layoffs through the end of the year, the person said, speaking anonymously because the matter hasn’t been publicly disclosed. Jim Wiggins, a spokesman for Morgan Stanley, declined to comment on the hiring freeze. He said the company intends to hire brokers for the Smith Barney unit, a joint venture with Citigroup Inc.
The freeze, which includes the New York-based firm’s sales and trading units, comes as weak trading and equity underwriting volume may lead the five largest Wall Street banks to post their lowest revenue from investment banking and trading since the fourth quarter of 2008. Bank of America Corp. is firing as many as 400 employees in its global banking and markets division, a person briefed on the matter said last week.
Companies including Barclays Capital and Credit Suisse Group AG also have started reducing staff in Europe. Securities firms around the world will cut as many as 80,000 jobs in the next 18 months as revenue growth begins to slow, bank analyst Meredith Whitney of Meredith Whitney Advisory Group LLC said in a report dated Aug. 31.
Seven analysts including Richard Staite at Atlantic Equities LLP in London cut third-quarter earnings estimates for Morgan Stanley in the last two weeks, citing weak trading in the quarter. The average estimate is 43 cents a share, down from 57 cents, according to 20 analysts in a Bloomberg survey.
Morgan Stanley added about 400 employees to its sales and trading business since June 2009. The firm’s headcount was 62,926 at the end of June, up 3 percent from a year earlier.
Morgan Stanley declined 5 cents, or 0.2 percent, to $25.10 at 3:09 p.m. in New York Stock Exchange composite trading. The shares are down 15 percent this year.
Fox Business News reported the decision to freeze hiring earlier today.
To contact the reporter on this story: Michael J. Moore in New York at [email protected] .
To contact the editor responsible for this story: Alec McCabe at [email protected] .
Find out more about Bloomberg for iPhone: http://m.bloomberg.com/iphone/
Damn, MS was one of the only firms coming on campus at my school and they were recruiting for Capital Markets and IBD. They're having their networking/info session tomorrow night and now I bet they're just gonna say better luck next year. Major bummer.
Time for me to go look at MSF programs.
Not sure how true this is for
Not sure how true this is for analyst recruiting. MS came to my school last week and just released interviews. Seems like they're still going through with interviewing and hiring.
Regardless, does anyone else have insight into MS's capital markets? Any ideas of how they compare to other places, culture, etc.
Penn88 wrote: Not sure how
Not sure how true this is for analyst recruiting. MS came to my school last week and just released interviews. Seems like they're still going through with interviewing and hiring.
Regardless, does anyone else have insight into MS's capital markets? Any ideas of how they compare to other places, culture, etc.
Ok, so maybe things aren't so bad.
That news article just came
That news article just came out today... wait and see how things pan out, let us know!
They might be still
They might be still interviewing, but hiring is something else. Those HR people have to do something with their time....
I know first hand that this
I know first hand that this hiring freeze is totally legitimate, we are starving for people on our desk right now and we cannot get anyone hired at all. Everyone that is coming in is being told that "we'll interview you for a position that we don't have yet".
I think this is the firm freaking out about this potential problem and wants to throw a few more people at the PWM side until the numbers flip in their favor.
cjohn09 wrote: I know first
I know first hand that this hiring freeze is totally legitimate, we are starving for people on our desk right now and we cannot get anyone hired at all. Everyone that is coming in is being told that "we'll interview you for a position that we don't have yet".
I think this is the firm freaking out about this potential problem and wants to throw a few more people at the PWM side until the numbers flip in their favor.
Funny, just got off the phone with my assigned IBD HR. Exact words "It's in no way confirmed and everything is on a go forward basis," maybe the horses mouth is lying to me but nothing I can do about it.
Here are the completely
Here are the completely UNCONFIRMED things I've heard about each:
Barclays:
*Lev fin: doesn't model their own deals and are geared more toward the execution side *[Doesn't make a ton of sense seeing that coverage groups have to generate everything m&a and LBO models on top of that but whatever this is just hearsay].
MS:
*Lev & acq. fin: Don't know any specifics. Some [reputable] people say solid, others say shitty, not really why.
used to be on the ms
used to be on the ms recruiting team. over the past couple of years, we would go to campus in light of firm-wide hiring freezes. more to "maintain presence" than to actually recruit. career management doesn't like it when firms cancel recruiting / interviews for any season. it was easier for us to come on campus, interview a couple of folks, but at the end of the day, not make any offers.
only exception was if we found someone exceptional. but for full-time recruiting, most of the good folks were already locked up at other firms, and those trying to trade up after the summer weren't really in consideration anyway because they usually didn't make the cut the year before.
my comments obviously pertain to full-time recruiting. taking on a couple of extra bodies for the summer is a lot easier as the firm is not committed to providing a full-time position.
Barcap dominates DCM, period.
Barcap dominates DCM, period. They're the top bank in global debt league tables for 2010 YTD, ahead of JPM and BofA.
MS is excellent in ECM, right up there with GS and JPM. Barcap still has a long way to go.
What are the hours like at
What are the hours like at BarCap vs MS in capital markets? Which of the two firms has the better reputation (in capital markets)?
Push
Push
MS for equity, BarCap for HY,
MS for equity, BarCap for HY, not sure on IGrade debt.