Would much appreciate any thoughts or inputs on choosing between these two offers. I know BAML has a very good prestige and deal flow in the US, but not sure about its Asia presence compared to banks like HSBC.
Key concerns are deal flows, junior exposure, and exit opps to top PE in Greater China. Thanks guys!
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newly registered user asking for hsbc seems legit
You are right about the Asia presence part. HSBC came up as No.2 on the Coalition APAC IB revenue league table. BAML was something around Top 10. I don't think Asia is anywhere near a key market for BAML. Although HSBC is not traditionally regarded as an IB really, they seem to be at the top of their game in Asia. I heard from friends HSBC pays among the top of the street in HK and their analysts actually have a slightly more livable life compared with the American banks.
But again, BAML carries its American BB prestige wherever it goes. It is a far more recognisable IB name around the globe... Prestige matters a lot when it comes to exit opps and B-school placements. Who would know HSBC beat BAML in revenue in Asia?
I think unless you are thinking about staying in IB beyond analyst, you should pick BAML hands down for the prestige. The better revenue / presence part for HSBC should only be considered if you wanna stick it out longer.
the coalition report is based on revenue pulled from annual reports of different ibs for hsbc they don't really give u ibd asia revenue they give u something like global banking revenue (within global banking and markets) and global banking is basically just hsbc's very large corporate commercial banking lots of fx swaps, lots of loans (not levfin, it is on working capital level) and they all get credited as revenue for "global banking"
with this accounting it is easily to be #2 because no other ibs have such strong commercial banking franchise in asia
gotta admit hsbc has good lifestyle though, looking at league tables they seem pretty chill, friend told me there are over 200 ibd bankers at their firm
https://www.thomsonreuters.co.jp/content/dam/openweb/documents/pdf/japa… http://graphics.wsj.com/investment-banking-scorecard/ https://data.bloomberglp.com/professional/sites/10/Bloomberg-Global-MA-…
for some 2017 league tables, they were included for involvement in syngenta (believe the rainmaker for that deal has gone already) and that ticket size is around 44bn usd
Nope dude. Coalition report is definitely standardised and the same IB revenue definition is applied across the board... otherwise JPM CITI would always come out on top of GS MS in US rendering the report pointless. And syndicated loans are also counted as IB revenue even it s for general corp purpose.
And all the legit league table will give HSBC credit for the syngenta deal cuz they are the sole financial advisor..... no offence but you sound a bit biased.
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