3rd Tier in HK or Canadian?
I'd like any input/rankings of the following, and perhaps insights into exit-opps, etc.
3rd Tier, HK office, ECM/DCM(front office) or CorpFin (10 weeks) vs. Regional office of Canadian bank, not a big6 (4 months)
Thanks!
what are the 3rd tier banks in hk?
So when you mean by 3rd tier in HK, I'm assuming you're talking about -Société Générale -Fortis -CITIC -Investec -ABN AMRO -Macquarie -Japanese firms (i.e. Mizuho, Sumitomo Mitsui, etc)
When you're talking about a regional office of a Canadian bank and not Big 6, I'm assuming either Vancouver, Calgary or Montreal, and they include: -Genuity -GMP -Canaccord -Raymond James -Orion Securities -Haywood
Note: I'm actually not even sure you can technically call any of the above Canadian firms "banks" in the strictest sense. I think a more appropriate term is "investment dealer".
Have I covered it well?
Yes, somecdndude, you've covered it very well - and thanks for getting me out of the tight spot of having to name banks!
So then... any suggestions?
I'll throw in some input on the quality of experience / firm for the HK and Canadian firms in discussion.
I'm not familiar with the Tier 3 banks in HK as I've never dealt with / never want to deal with them.
For the Canadian small guys, all they are really just SMALL SMALL deals (i.e. think C$50,000 to C$100,000 to maybe C$500,000) for some small exploration mining/oil company, small startup pharma company, some miscellaneous private placements here and there, etc. You can pretty much forget about M&A (except if you're with Genuity...). As well, not to mention that those equity deals are usually sourced by investment advisers who are connected with the client, the whatever investment banking / corporate finance department simply gets the documentation stuff done and sells the stuff.
are u talking from experience or do u have a friend of a friend that told u those numbers ?
how do u get those numbers, when GMP and Canaccord executed 1.6 to 1.4 bil over 44 and 35 deals ?
Doesn't really sound like you'd recommend either...hahaha
abn and Macquarie are definitely NOT tier 3 banks in HK. ABN has a very strong IB/CF franchise in HK/China. Macquarie is definitely growing very strongly and agressively in asia these 3 years.
I'm personally biased towards Asia since it has such amazing growth opportunities. For Canada... unless you're at a Top5(not NBF) it just doesn't seem to compare at all.
For those SMALL deals, I do talk from experience and it is from one of those listed Canadian firms and also from experience from within the Top-5 Canadian banks. Literally, there's little, if any, respect or prestige (as this board loves to tout) in working for these firms with respect to investment banking.
Really, if you're not with the top 5 banks (i.e. RBC, CIBC, TD, Scotia, BMO --- not NBF), then everything belongs to the same crap category in terms of deal flow, prestige, and experience.
OK fine --- for HK, ABN AMRO and Macquarie technically shouldn't be Tier 3. That's my bad.
what tier would those be, then?
I would actually say that Genuity and GMP have decent reps in Canada..
in fact, GMP recently set up an M&A collab with Lazard......I think that has to count for at least something.
monkeypeel:
Private Message me if you want to know more about my 2 cents on the HK vs. CDN bank thing offline. It's hard to really tell you what's better without knowing the bank names (especially with the non-BB Canadian ones --- the variance in deals / deal dollar amounts can fluctuate so much)
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