Some advice needed, I am being interviewed by all three banks (baml, cs and ms) within FIG teams focusing on insurance deals.
I am trying to figure out how each bank is positioned vs others (team, credentials, historical, network, MDs reputation + network) on potential coming cross-border insurance deals? any personal views much appreciated!
Cheers
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All 3 are shit.. there is only GS FIG
Let's say in a world without gs then
MS in Europe CS in Europe BAML
Why?
London or NY?
LDN
London
Anyone has more elaborate/intelligible anwers?
MS all the way. BAML FIG is really just a place holder group, not a ton of production.
UBS bro FTW
LOL.
I'd go with MS too.
You should look into Drexel Burnham Lambert.
From what I know, MS FIG has very strong reputation and deal flow (close to GS FIG, maybe on par with JPM FIG). The culture in MS FIG NY is not great, though. Not sure what it's like in London.
You referenced JPM FIG--what's it's reputation like?
JPM FIG is very big and very good. The group has some highly respected bankers and great deal flow. Definitely a strong group at JPM and on Wall Street.
Not true anymore. MS is in the doghouse at AIG and UST right now -- they're not even one of the four joint global coordinators on the ~$9bn re-IPO that's pricing tomorrow.
What is wrong with CS? There 2nd on the league table... and have advised Prudential on AIG divestures in Asia... Doesn't that make them on top of insurance?
Edit: Didn't read clearly, thought you already got your offer. I keep my paragraph and good luck with the interviews!
Go for London with MS!
They have the strongest FIG team in Europe, and hell of a deal-flow. As far as I know they're quite drowning in work right now. Also don't forget, that the FIG bankers (at least for London) bring in most of the fees in their advisory business which should be directly linked to your bonus. Another advantage is, that the team works quite autonomously and they're doing all of their stuff on their own. So you're not in kind of a sandwich position that the more generalistic M&A and ECM/DCM departmens are doing all of your work. Favorable in my opinion and you'll get your analytical exposure. Just expect crazy hours and many, many German Co-workers ;)
With CS nothing is wrong, but I still would go for MS. Speaking here more for the banking advisory, do not know that much about insurance, but should be still in line with my points (they got some pretty strong MD's there, too).
Thanks Don. My impression is that CS is much more into Germanic markets (Germany, Switz, Austria) than others given historical ties with local companies (Allianz, ZFS, MunichRe, SwissRe) which are likely to be originating deals in CEE+Emerging markets as opposed to MS which is more American focuse...at least that is my impression.
I agree with thr FIG vs DCM/ECM.
CS have hired some heavyweight MDs recently... and strong creds in looking at Asian market from European persepctive with Prudential, I guess the cred can be leveraged for further pitches...
When looking at the immediate rankings, CS seems to be in better shape and bankers seem confident keeping up with the top league...
Different views welcomed.
MS FIG for NY for sure.. they handled all the AIG stuff
Its really incredible how that shitty bank of JPM which was Well Fargo in 2002 managed to get a strong reputation in IBD in a few years time...
JP Morgan was founded in 1799, 212 years ago. It's been pretty beastly since the beginning.
Little known fact ---> George Washington decided not to do a 3rd term as president to start a second career as an analyst at JPM
he was driven by the institution's amazing prestige and the fact it was the ideal path to a megafund/HF recruitment
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