Macquarie or BMO Capital Markets
which offer would you take (for SA) and why. assume both in NYC
I know these aren't BBs- so to pre-emptively quell flamers (1styearbanker), I'm in the running for BBs as well.
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dont know anything about bmo, but i'm assuming you're looking to go for whichever one positions you best for ft recruiting, right? (because who really wants to work for those firms).
i know three people who summered at macq in ny last summer. all tried shopping their ft offers around. two are going back to mac, one is going to moelis.
i know nothing about the actual performance of the firms, though, except that they are both mm and largely irrelevant in ny. bmo mining is supposedly decent in toronto and mac is known for infrastructure, for what that's worth.
Macquarie probably give u best results when you shop around for FT. Awful awful awful...
best go to a BB though.
Macquarie has more street cred then BMO, although as everyone above stated, they are MM's. But I think what is important for you to understand is that when you are applying again next year for FT opportunities in banking, there is a big difference between applicants with and without banking experience. Even if it was at a MM, you will have steps up over the other candidates that worked at BB's last summer and didnt get a return offer. You can show a logical progression from a MM to a BB. I would choose Macquarie, if those were my two options.
I would definitely go with BMO and its not even close. I have never seen Macquarie advise on a deal and i've seen BMO a few times.
It's funny how people think that BMO gets more deal flow than Macquarie. You can take a look at the facts and look at the number of deals announced and completed and Macquarie has taken in more business in Global M&A and global mid-market M&A advisory business than BMO. Both don't get severe funds from their underwriting business; so M&A is your best opportunity at both. All facts taken from the most recent league tables. BMO is not close to Macquarie.
One of my buddies was at BMO, they paid pretty well last year.
BMO's corporate lending out of Chicago is quite strong in the space and generates some ancillary business there. Their NY team is largely irrelevant. Between BMO NY and Mac NY, I'd take Mac. BMO Chicago or Toronto vs. Mac NY, I'd take BMO.
I know a LOT about both firms, and I am going to suggest you go Macquarie. When FT comes around, it will be much easier to rationalize why you chose Macq in the first place given its unique business model and interest in infrastructure (which is supposed to be a huge asset class in the US over the next decade).
could you tell me more about this unique business model?
Just to clarify: Macquarie ranked 13th for FY2009 in Global Mid-Market M&A with 84 deals and BMO ranked 19th with 46 deals. The rank is based on the size of the deals, not the number of deals, but that's the break down.
jatinb's numbers are slightly misleading. most of those deals for bmo are out of the chicago office, which is thier us m&a headquarters. when comparing new york offices, the gap between macquarie and bmo isnt even close.
i'm not a big fan of macquarie in general, but its definitely the best of the worst in this case.
Macquarie.
If you want to look at pics of Mirana Kerr while at work, go with Macquarie...
...in all seriousness though, go with Macquarie. They've done some big shot hires lately and are only expected to grow bigger in the next few years... They might even start doing some principal deals again which would give you exposure to the world of PE. They are strong in Asia-Pac and I think they have a potential to achieve similar results in the US soon.
Depends on your office and sector. If you are based in Toronto / Canada... BMO decimates anything else in Metals & Mining. They do the most deals by value and volume and they do the most deals in global mining M&A.
That being said, BMO bankers in NYC and Chicago are mm at best and not really the pick of the pack. In Toronto, BMO is a preferred destination for all top school graduates (as are RBC and CIBC).
All about what you do and where. If in NYC, then I would keep BMO / MacQ to the end, but banking experience is better than no banking experience.
Macquarie what? IBD or Funds? If it's funds, then take Macq hands down, I know a few guys who lateralled from Macq's funds (utilities and infra) into BBs looking to expand their advisory into those respective areas. If it's IBD, then I don't think there is clear answer. Flip a coin.
I would go for macq.
BMO v Macquarie (Originally Posted: 11/18/2016)
Generalist offers at BMO(chi) and Macquarie(ny) and not sure which to pick. Need to decide by tonight, any help would be appreciated.
Which office? If Toronto then go with BMO they get all the mining deals. If not go with Macquarie. You need to give a bit more details tbh
Macquarie NY for sure, no contest. BMO is the US is not great, and culture is shit. Also, shoot for the Infrastructure group at Macquarie if you can; they're killers
I've actually heard that BMO Chicago's culture is great. Have a friend starting there for FT in July.
What group at Macquarie?
Yeah, but the guy who heads the CPR group in Chicago (Tom Shumaker) is just the biggest cock you'll ever meet
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