Barclays taking over ABN AMRO
Hey, i've got a couple of questions regarding the takeover. So any input will be great.
1) How likely will this happen and how long will it take?
2) What will happen to the Sales and Trading Department in ABN? Coz i'm scheduled to start S&T as an analyst later this year... Will the whole Ibank part of ABN be liquidated or will the fat trimming affect me?
Thanks
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1) Yes asap 2) They will tell you are redundant before you start
Barclays strength is ibank and Asset Management. ibank is focused on fixed income and has historically been averse to equities and M&A, ABN AMRO ibd sucks and what will likely happen is that abn FI is cut outright and replaced by barclays, and equities and M&A are downsized. abn amro retail will be kept however, in case you still want to stay at abn.
why would not they want to expand their equities and M&A ? they could potentially become another citibank or JPM.
Thanks idkoop and 112107! So chances are high that I won't even get to work a day?
u mentioned JPM...well this is what happened in jpm about 6 years ago after the merger of chase and jp. they hired twice as many analysts as they needed, and decided not to fire a single one. in the end this created chaos, all their deals were overstaffed, people were leaving for home early, etc. bear in mind this coincinded with an economic downturn. your best bet is to talk with ppl who hired u and sound them out.
btw, Citi sucks right now and is ripe for a split up (spinning off the ibank). the point is not to create the biggest bank by markcap as citi found out, but to have the highest ROE (i.e. storybook case of DB's transform. from commercial bank w/ 5% ROE to univ.bank with ~26% ROE).
idkoop has no idea what he's talking about. Barclays will integrate ABN AMRO's M&A and Equity practices to create a full-service bank to corporations.
ABN AMRO's M&A and equity both suck. barclay's ceo is not going after abn to pursue both shitty M&A practice and equities trading when he could do it cheaper through an organic build up. u have some serious lack of business sense if you think that's the case. what Barclays really wants abn's asian and emerging markets assets.
pheealnluot, HR isn't worth its weight and this board is often worth even less. ask the people who hired you, especially if there any that you think you can trust and who are straightforward.
best case i can think of is that your career is protected for the two or three years you are an analyst at the new bank, but you've gotta do really well and make a lot of friends in those few years.
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