RBC Capital Markets growth

What is the reputation of RBC Capital Markets in the U.S. for banking and s&t? It seems like they are actively trying to grow their capital markets business through the use of a strong balance sheet. Any thoughts on what sort of position they will be in 3-5 years from now?

 

I would have to agree. While I don't have any answers, I do have additional questions that pertain to this thread? 1) What are the "best" groups at RBC ? My guess: Industry - Mining and Metal, Product - No clue, maybe M&A

2) RBC CM website doesn't seem to have a DCM group. They do have a High Yield Capital Markets group. Is this their LevFin group? If so, then what's their LevFin group (see links below). I'm just trying to separate their DCM (average investment grade stuff) from their High Yield. Can someone checkout the links and provide some thoughts? https://www.rbccm.com/highyieldcapitalmarkets/cid-204658.html https://www.rbccm.com/syndicatedfinance/cid-206915.html

 

They have hired a lot of bankers. Their intention is to become the leading MM player in the US market. Analysts are generalists for the first year and then assigned to industry or product groups. They have done well last year and were at least top 20 (maybe even 15) in the US league tables last year. Check Thomson as this is based off memory.

 
Advisory88:
They have hired a lot of bankers. Their intention is to become the leading MM player in the US market. Analysts are generalists for the first year and then assigned to industry or product groups. They have done well last year and were at least top 20 (maybe even 15) in the US league tables last year. Check Thomson as this is based off memory.

Actually, they are not even top 25 in US leagues. #15 is CS, and the rest of the 15-25 are rounded out by Centerview, Perella, RBS, Macq, Jefferies, HLHZ, etc.

http://online.thomsonreuters.com/DealsIntelligence/ReviewsAndAnalysis/R…

 
Advisory88:
They have hired a lot of bankers. Their intention is to become the leading MM player in the US market. Analysts are generalists for the first year and then assigned to industry or product groups. They have done well last year and were at least top 20 (maybe even 15) in the US league tables last year. Check Thomson as this is based off memory.

Is having analysts work as generalists normal in Investment Banking? Do any other BB, MM, or Boutiques do it this way? Does RBC not have a "sell day" like other banks?

 

i thought the generalist program at RBC is less than a year (a few months i think), though i could be wrong.

I know jefferies also does it the same way, though jef is planning on phasing it out as the firm grows (recently shortened the length of time as generalist).

 

RBC is, without a doubt, the No. 1 bank in Canada for M&A, ECM and DCM.

As for NY, they're growing their business and are a solid, albeit not great, MM player in the IBD space. They've made a lot of hires but are reluctant to leverage their balance sheet to chase larger deals. But as the name "RBC Capital Markets" would imply, their trading operations are much stronger -- in the U.S. they are very good at algo/program trading and FX (particularly CAD, obviously).

 
brisbane:
They've made a lot of hires but are reluctant to leverage their balance sheet to chase larger deals.

This may change in the future and they seem pretty committed to devoting capital to us business: "Canada's biggest bank plans to expand the balance sheet of its U.S. capital-markets business by 50% within the next 18 months" from http://online.wsj.com/article/SB100014240527487045410045750114515228436…

That said, dont look for them to compete with the bb's anytime soon. Right now they are a solid mm that looks to become the best mm, and have a realistic shot at obtaining that. They consider jefferies their main competitor.

 

Agree with the last two post, they did relatively well in last year's league table (not sure if I was looking at gloabl or U.S. but I know I saw them within the top 20).

Random but is it true that Wall Street 2 was filmed in their new HQ which are floors in ML's old building before Bryant Park.

 

cant believe i just took to the time to check this...

from thomson, 22 us involvement completed, 19 us involvement announced, 19 us target announced, and behind only hlhz and jefferies among mid-market banks in us target mid-market rankings (deal volume & # fees).

so, obviously league tables are shit but seems to support the idea that they are a solid, maybe even a top, middle market firm which also has the ability to do a lot of bigger cross-border stuff (this is why us involvement is bigger than us target).

 
PA:
whats stopping you from applying?

he needs the internet's approval first. without that he's screwed.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 
marcellus_wallace:
If you its for Toronto or Canadian program. Any desk, RBC hires and keeps rock stars. They have a very specific culture though.

Could you please rephrase this post for clarity. Thanks.

 
dec-jun-jun:
manbearpig:
Super super competitive. Had a first round there last year for the global markets program. I heard something retarded like 4K resumes, 100 first rounds, 20 superdays, 8 offers.

Was this for undergrad or MBA?

Pretty sure everyone was in the same pool. It's basically S&T so they don't really care about MBA. I applied out of my MFE.

-MBP
 
manbearpig:
dec-jun-jun:
manbearpig:
Super super competitive. Had a first round there last year for the global markets program. I heard something retarded like 4K resumes, 100 first rounds, 20 superdays, 8 offers.

Was this for undergrad or MBA?

Pretty sure everyone was in the same pool. It's basically S&T so they don't really care about MBA. I applied out of my MFE.

Thanks for the reply, I have actually wondered, do MBA grads have an advantage over undergrads for these positions. I am starting my MBA in september and the RBC Global Markets rotation would definately be one of my top choices.

Considering that the applicant pool for the S&T jobs is so large, and there are generally less positions available (according to info i got from the site) does that imply that M&A associate recruiting would be a little easier as it only involves primarily MBA grads?

 
Best Response
dec-jun-jun:
manbearpig:
dec-jun-jun:
manbearpig:
Super super competitive. Had a first round there last year for the global markets program. I heard something retarded like 4K resumes, 100 first rounds, 20 superdays, 8 offers.

Was this for undergrad or MBA?

Pretty sure everyone was in the same pool. It's basically S&T so they don't really care about MBA. I applied out of my MFE.

Thanks for the reply, I have actually wondered, do MBA grads have an advantage over undergrads for these positions. I am starting my MBA in september and the RBC Global Markets rotation would definately be one of my top choices.

Considering that the applicant pool for the S&T jobs is so large, and there are generally less positions available (according to info i got from the site) does that imply that M&A associate recruiting would be a little easier as it only involves primarily MBA grads?

Yeah Canada is not like the US in this way. IBD is wayyy easier to get into here than S&T. One of my cousins was a M&A VP at RBC before he left 2 years ago, and he confirmed this.

-MBP
 

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