Wachovia CIB
(Senior Chimp, 20
Points)
on 1/30/07 at 4:48pm
Anyone have any thoughts or insight on Wachovia's Corporate & Investment Banking group?






not very good, but the hours
not very good, but the hours are good and the pay is good.
Not very good???
I suggest you look at how Wachovia's CIB has moved up the league tables in the past few years. They're growing like crazy and stealing mkt share from the BB's at an incredible rate.
thanks for the comments, I
thanks for the comments, I have noticed how Wachovia has moved up the deal tables...
yea they have moved up, but
yea they have moved up, but i look at things from a prestige pov and no one at the bbs respected wachovia
Not very good!
The only reason Wach has moved up in the tables is because the tables give full deal credit to every bank on the deal, no matter how far down the line that bank is. So, Wach goes in and buys a co-manager role by lending money to the company doing the deal. Thus, even though they are 5th on the deal team, they claim full credit on the league table. It's a cheap trick that shitty wannabe BBs pull - don't fall for it.
Wach gets NO respect on Wall St., they are a laughingstock, and they basically work on hail mary pitches that have no chance of working.
By the way - Wach has ZERO global presence and if you ask high-ranking people at the bank, they'll tell you - Wach isn't even trying to go global, so, do you want to hitch your career to a bank that has already thrown in the towel outside the US?
Last thing - "growing like crazy and stealing market share" is completely false. The investment banking arm of Wach is not growing any faster than any other banks, and they're not stealing market share - they're moving up the league tables which is completely different from market share b/c market share assumes a zero-sum game (either one bank gets credit for a deal or another bank does, not both) whereas league tables give multiple credit for the same dollars - as discussed above. The only thing more pathetic than Wach's work is the way they try to sell themselves as a BB, when people in the business know they're more like SunTrust.