Which IB or Boutique has a clear focus on Capital Markets? (and not on M&A)

Hey Monkeys :)

I am from Europe and I am searching for a full-time analyst position within the Global Capital Markets departments.

But there is also the problem. As I was looking through the big ones (a JP, MS, GS, etc) - of course I identified that they have some positions within the capital markets. But to be honest, I don't know if I am the one they are looking for and if my profile is competitive enough. So I expanded my search onto smaller banks (like RBS, RBC, Jefferies). They still have some capital markets jobs outstanding but I could clearly identify that their focus is often on the investment banking - M&A department...a sector I am not interested in.

So, to make a long story short. I am looking for boutiques or smaller banks which have a strong focus on capital markets (esp. debt capital markets as that is the area I want to work in)

Can you help me? Input is much appreciated

Best regards,
mott

 
Best Response

The "smaller" banks you listed like RBS, RBC, and Jefferies (to an extent) would be your best bet outside of JPM, BAML, DB, MS, GS. The thing is, to have strong capabilities in capital markets like syndicated and leveraged finace, the bank needs to have a robust balance sheet that can support the underwriting of large investment grade loans and medium-sized leveraged debt. This, for a large part, is why JPM and BAML are the traditional #1 and #2 powerhouses in the DCM or "Loan Capital Markets" space.

Smaller banks, and especially boutiques, simply don't have the balance sheets to compete with the big boys in capital markets (M&A or Private Placements is another story).

If I were you, I would also look into CIBC, CIT, BB&T, PNC, Tokyo-Mitsubishi, Mizuho, Nomura, SunTrust, BMO. These banks, while smaller and more conservative in lending, have substantial capital markets capabilities for the middle-market space.

 

Et quaerat nostrum et natus vel impedit aut. Aut dolores autem ut accusantium autem quia consectetur. Est fuga officia consequatur quia beatae porro excepturi.

Voluptatem suscipit quis est culpa quidem. Excepturi sint consectetur dolorem alias temporibus necessitatibus aperiam. Aliquam eos non delectus non qui.

Atque non sequi laborum quia. Ut rerum et odit et animi. Ea quo consequuntur occaecati. Nostrum enim eos natus vero modi. Dolor tempora commodi ut et exercitationem. Aut perspiciatis omnis ipsam dolorem odit.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
CompBanker's picture
CompBanker
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
kanon's picture
kanon
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
DrApeman's picture
DrApeman
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”