I was wondering what the reputation of BAML's NYC M&A team is? I know the group has gotten stronger recently but how do the exit opps, hours, modeling experience, etc. compare to others specifically JPM, CS, Greenhill, and HLHZ
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They are a top 3 M&A group in terms of deal flow. The exits are great, the hours suck, the modeling experience is as good as any other top bank with tons of headline deal flow. It's an analogous experience to JPM/MS - GS is different because most of their M&A modeling is done in coverage groups. CS is a shadow of what BAML is, and it's not quite fair to compare boutiques like Greenhill to a huge BB like BAML. For what it's worth, Greenhill is on the decline though. The elite boutiques are very much Lazard, Centerview, Evercore, with Moelis & PJT on the rise.
Would add PWP as an established / on the rise Elite boutique and possibly Guggenheim, but otherwise agree with what you've said.
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Not paying out bonuses and firing employees left and right
Bank of America? - M&A? (Originally Posted: 03/22/2007)
Does anyone know anything about BofA's reputation w/regards to M&A? Have a friend who just got an offer for their NYC office and I'm just curious as to what their reputation is?
from thomsons league tables for 2006, their ranked 14 worldwide behind mm firms such as evercore and rotschild.
More information on page 4 http://www.thomson.com/pdf/financial/league_table/ma/150587/4Q06_MA_Glo…
...obviously i don't know too much about them, i'm only working with stats
Given balance sheet capabilities, BofA will rise in the league tables from 14th. Reference Citigroup CIB's growth trajectory.
doesn't mean shit. You asked about reputation, and their reputation sucks. End of story. If your friend is working for B of A, tell him to work in DCM or Lev Fin or something where debt capabilities are utilized - they are rarely engaged for pure advisory stuff, most of B of A's M&A is a result of someone coming to borrow money and then doing a "one-stop-shop" kind of thing. Why in the world do people on this board think there is ANY correlation b/w league tables and reputation? There isn't.
There is NO correlation at all between the league tables and reputation? So one can draw no conclusions between the banks listed in the top 5 and the bottom 5 of those league tables?
Obviously there is a correlation. The banks that are at the top will have the best reputations, and if they don't have the best reputation today, soon they will.
There is some correlation, but biggest doesn't mean the best. There is a difference between quantity and quality.
True, biggest does not mean the best. It is also true that in this extremely competitive world we live in you will not become the biggest if you are not one of the best.
Ok these people are all stuck up, please take their advice with a grain of salt. The fact of the matter is that BofA is the 3rd most profitable company in the world and the 12th largest in terms of revenues for 2006. Of course if you want to get into KKR, Carlyle, ect. it may be tougher but that does not mean you can't do it or won't be getting an incredible experience. People on this board need to lighten up and realize that just being offered a job within banking is incredible, let alone with one of the largest and most profitable companies in the world! Plus, BofA has some great groups like HC, Global Industries, Retail, Lev Fin, and DCM. Congratulate your friend on his or her great accomplishment.
People who are extremely materialistic will only get so far...
Ok, I'm really getting tired of people starting crap about how "stuck up" people on the boards are. You do realize this is a forum for people interested in investment banking, right?
was that league tables are easy to manipulate. Ask Wachovia what their M&A rank is, and they'll say something like #4 or #5. And they won't be "lying" they'll just be massaging the data to get them as high in the tables as possible. Also, some league tables give full deal value to each participant whether the bank was lead, joint or co-manager. If a bank is 6th co-manager on some huge deals, and gets full credit, that wildly skews the tables. That's why league tables do not equal prestige.
beat me to it. VP from UBS LA was talking to me about how they are not at the top in league tables. would you still want to work for them (this is before news came out that Moelis is leaving)? yea you would.
bump
boa securities M&A (i-banking division) (Originally Posted: 06/20/2007)
how is this group compared to say their debt capital raising group? any info would help..
crap everything at boa is crap
lol - have to agree. spoken like someone who is definitely not at boa. on the upside though, as they are crap, they do need to attract decent people somehow, and they have (fortunately for those people), chosen to pay top dollar. They beat the tables in europe on comp. downside is that you cant have your cake and eat it, so options for a move further down the line are more limited than at a more decent house.
"Living the dream 24/7 on http://theallnighter.blogspot.com"
well in their defense boa is decent in certain areas of fixed income trading.
read this on deal journal today:
B of A has been ranked 2nd in the U.S. Lead Syndicated Leveraged Loan League Tables for the last 4 years behind only J.P. Morgan. HCA, Equity Office Properties, Univision, etc. They’re up there with JPM, DB, and CS. etc. Leveraged finance is actually one of the few strong areas at BofA. but there's also their prime brokerage, FX, won IFR Mag CDO House of year, etc. It's not GS, but its investment bank is only 10 yrs in the making
the actually won an award for best exotic rates structure last year. their head vanilla swaps trader is one of the best on the street actually
some groups are doing very well there despite what these students are saying. do your research on this site and you should find out quickly.
Let's say they do succeed and become a "decent" firm in Europe. Wouldn't it be great on the resume/CV to say you've been part of a growing shop (even though you may not have had an instrumental part in growing the firm)?
No, it wont make much difference from a CV perspective in the sense that ppl think you contributed to growth or something. Now, maybe there is more opportunity at a growing shop, I don't know.
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