first, HSBC Securities should have bought lehman's investment banking unit in Europe and Asia (now owned by Nomura)

second, their levfin group is shoring up exposure in the Americas. Two ex-DB bankers head the business and were the top paid bankers at the firm in 2008.

finally, come on guys,

, this song def embodies the firm, their bankers surely get more than 8+ hours of sleep a night...lazy asses, just sayin'

 

Huge, international, rock-solid traditional bank. Heard that it feels like something out of 'Imperial Britain' (no joke). Not a deep capital markets desk now in the US, but this is currently being built out. Not sure if it really strives for league table status here, but it is very active in the debt markets in Asia (oddly enough, US dealers aren't even on the map there - probably need a lending relationship & capital before receiving mandates). It seems like one of those firms that doesn't need transaction flow to live well.

On the other hand, a cited authority like the Vault doesn't regard it highly! ;)

 
Best Response

HSBC CIBM's (Corporate, Investment, Banking and Markets) strength is in debt financing and emerging markets. The Bank is basically steering clear of M&A/Equities in developed markets. But it has a worldwide focus on debt, and only focusses on M&A/Equities in developing countries. They are actually quite strong in Bombay, Hong Kong and London. E.g. They are Arcelor's preferred banker.

Their Milan/Paris offices are also very good, because of their acquisition of CCF, a French ibank back in the day. Otherwise M&A in NY is an also-ran, and the office is only there to facilitate cross-border M&A's originating from developing countries.

HSBC got shouted down by everyone in 2001 when they wanted to organically transform themselves into a BB ibank (what the #$&* were they thinking) for good reason. Now, they have refocused the ibanking operations (financing + emerging mkts strategy), and it looks like it's paying off. They had a huge jump in profits shown in their semi-annual results, with derivatives, debt financing, FX and private equity showing good gains. Their failure to break into N. America is why everyone is saying HSBC is going to buy Bear. My opinion is that it is unlikely, given that both banks have had a bad experience with fixed income due to the subprime issue.

A friend of mine from Canada did the Global Rotational S&T program. She really liked because she got rotations in Hong Kong and New York.

Any other opinions?

 

If this is your only opportunity then by all means, however HSBC has a tarnished reputation in the US/Europe for aggressively trying to build up an investment banking business just to see those efforts fall apart once the financial crisis hit. Unless this is for one of their core emerging markets/Asia offices there is simply no commitment on their behalf to be a serious IB player.

 
kingb:
If this is your only opportunity then by all means, however HSBC has a tarnished reputation in the US/Europe for aggressively trying to build up an investment banking business just to see those efforts fall apart once the financial crisis hit. Unless this is for one of their core emerging markets/Asia offices there is simply no commitment on their behalf to be a serious IB player.

Would it be bad if I did this sophomore year, and tried to leverage it for AM or PE junior year? I feel like IB at a BB is IB at a BB-or is that not the case with HSBC. In the long run I don't wanna do IB...

 

if you're sophomore than take it. thats a great internship to have w/HSBC especially if its IBD. you'll have a great shot at SA interviews junior year if you learn basic valuations, have a decent GPA and network. you're well on your way!

I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought- GG
 

HSBC is a fine bank in the US, nothing special and a totally different animal than it is in Asia (and even Europe somewhat). That said, IB is IB, and if you hate the work at HSBC (I said the work, not the hours, people, culture, etc) then you likely are not going to enjoy it elsewhere. Take an offer there if you can get one- it is still a brand name and will be better than most all sophomores- anyone saying not to pursue it is crazy. Even at a subpar bank it is incredibly tough to get an in at your age.

 

I found the following on their website:

Notes * Please note that due to increased business demand we are still open to accept applications for the following regions and programmes: EMEA - London:Summer Analyst Programme •GBM Technology - Extended Application Deadline: Sunday 11th March 2012 The Americas:Analyst Programme •Global Markets Trading - Mexico - Extended Application Deadline: Sunday 27th May 2012 •Global Markets Sales - New York - Saturday 31st March 2012 •Global Markets Trading - New York - Saturday 31st March 2012

Not sure if that means they're still hiring. Enlighten me!

 

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