Southern IB

What do people know about Morgan Keegan, Stephens, Sterne Agee, Raymond James, BB&T and SunTrust. I'm interested in the Southern banks and I never hear much about them.

 
bulge4lyf:
I'd say SunTrust and Stephens are probably the best banks in the south. I know Suntrust has been closing some mega deals recently.

Didn't know suntrust had seen that much improvement, any example deals?

 
sleepingmonkey:
Is Houston considered the south? If so, then you have all the energy IBDs.

+1

Wall Street leaders now understand that they made a mistake, one born of their innocent and trusting nature. They trusted ordinary Americans to behave more responsibly than they themselves ever would, and these ordinary Americans betrayed their trust.
 

Harris Williams: MM sell side m&a, Richmond, VA BB&T (also in Richmond I think)

Charlotte: Edgeview Partners, McColl Partners, I'm sure there are a bunch more small MM banks but idk them BofA and Wachovia have their HQ in Charlotte as well, but there is speculation lots of BofA's ibd jobs are gonna be consolidated in NY since buying Merrill, not sure what is gonna happen with Wachovia

Stephens Inc. has their HQ in Little Rock, Arkansas

sorry but I'm nor real familiar with any in ATL, hope I helped

 

I am really just looking for a summer internship. I am in my junior year right now, and im probably not a BB candidate, i go to an average, very large state school, and I am looking for a summer internship somewhere in the southeast. Would any of these places be hiring interns? Thanks for the help so far, I appreciate any help that I can get.

 
Best Response
ehs10:
I am really just looking for a summer internship. I am in my junior year right now, and im probably not a BB candidate, i go to an average, very large state school, and I am looking for a summer internship somewhere in the southeast. Would any of these places be hiring interns? Thanks for the help so far, I appreciate any help that I can get.

if you haven't figured out that yet you probably shouldn't be in banking.

I am from a school in the southeast that is target for edgeview, BoA, WB, SunTrust, BB&T, ect. Scheduled banking interviews this fall were down on campus 50% as of early October and I think finished 70% down as a whole (if you normally needed a 3.5... now you need a 3.9)

If you don't have any connections and in this market you will not get a summer internship considering how late it is already.

my only suggestion is that most medium sized cities have their very own small boutique banks. while you wont learn much more than how to use a photocopy machine and how to bind pitch books, the experience would look better on a resume down the road than working at Winn-Dixie. these smaller banks are actually working their asses off (as opposed to most your bulge brackets) now b/c many small business owners are trying to sell their companies before next year and any capital gains hike and therefore need some extra help.

anyway, good luck.

 

My career services offices is pretty much a joke. BoA and Wachovia do not recruit here, SunTrust doesn't even recruit here, and they are only a couple of hours away. They basically told me to apply online and hope for the best. Now I am just trying to look for some MM firms to do a summer internship for.

Is it too late to apply for summer internships???

 

No, it isn't. Just keep calling and try to get a hold of an analyst's or associate's contact info. If you are persistent and have the creds on your resume to make them notice you they will give you a shot.

 

I've been very successful in using LinkedIn to connect with people in financial services (namely s&t). Getting a phone call with anyone at these places will allow you to show them that you really want to get into banking/s&t even in the current environment. Make sure that you don't come off just wanting an internship. Ask about what they do, how they got there, what they like about it, what they see in the future for their product/industry etc. etc. It's all about networking. With the market currently in the shitter going in through the front door recruiting process is going to be tough.

 

We haven't even started our Summer Analyst recruiting --- not sure what the above posters are saying about "its too late in the game." McColl, Edgeview, Harris Williams, Bank of America, and Wachovia would all give you great experience. SunTrust and BB&T would be good to a lesser extent (but given the market, anything beats nothing).

I would warn that my bank typically pulls Summer Analysts from our core schools as there are very limited spots every year -- not due to the economy. You may encounter some difficulty trying to get in the door, but you ought to start placing those phone calls now.

~~~~~~~~~~~ CompBanker

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

...about it being too late for SA gigs. speaking for me personally, the extremely competitive BB one I got, i found out in january, but I started the process earlier than that. I'd just assumed that it be even tougher this year. Still though from mediocre state school with mediocre grades... in this market... I'd still say the only gigs you are going to get are going to be small boutiques that don't have the time or the infrastructure to teach you much...

... simply because if you walk into a small bank (one I interviewed with this summer had 2MDs, 3VPs, and 6 analysts, in florida), looking sharp with a decent resume in hand, its a whole lot easier to convince them that you'll do whatever they want and wont fuck things up in whatever minimal role they will give you. the big banks or even the decent MM like Edgeview will simply screen you out based upon GPA and school.

going to have to hit the phones and the street if you want to break in when everyone else is scared and running for their lives.

Example: http://www.watermarkadvisors.com/new/pages/index2.htm

 

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