Corporate Banking in Toronto - Discussion
Currently evaluating long-term corporate banking career paths in Toronto and would appreciate perspectives from people across both the Canadian banks and US / global banks.
My understanding is that the Big 6 Canadian banks have much larger corporate and investment banking franchises domestically, which may result in stronger exposure to Canadian deal flow, closer interaction with capital markets and product partners, and potentially broader client coverage opportunities.
On the other hand, some of the U.S. and international banks seem to operate more specialized corporate banking platforms in Toronto and may offer higher pay, leaner teams, and exposure to larger multinational clients.
A few questions for those with experience:
- Which platform offers the strongest overall corporate banking experience in Toronto? Ranking all the banks would also be helpful.
- How do the Big 6 compare to global banks in terms of deal exposure, underwriting experience, and interaction with capital markets teams?
- Which global banks currently have corporate banking teams in Toronto? I'm aware of JPMorgan, Bank of America, Citi, and Wells Fargo, but am I missing others?
- How do compensation and progression compare between the Canadian banks and foreign banks?
- For someone looking to build a long-term career in corporate banking (rather than using it as a stepping stone), where would you want to start and ultimately stay? Asking as the private credit scene in Toronto isn't the best, so what would be the best exit?
Interested in hearing thoughts from people who have worked at both Canadian and foreign banks or anyone who wants to opine.
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