BB Treasury vs MM IB - which is more prestigious?
What’s the opinion on Corp Treasury at top shops (GS, JPM, MS) vs IB at a MM (Piper Sandler, Raymond James, Lincoln)
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Hate the word prestigious andits connotations, but I'll bite since it seems like this is being asked in good faith.
I would think of this as pros and cons.
MM IB Pros
Treasury pros
The other thing to mention is the relative importance of the Treasury organization is a function of the size and complexity of the balance sheet, and how active the organization is in managing the liquidity portfolio and hedging interest rate or FX exposure.
MS’s treasurer is obviously going to be a much smaller job than say Citi or JPM
Appreciate you taking the time to give your insight on this, definitely helps frame the situation better.
Hate to ask again, but just to clarify, is it fair to say Treasury roles get larger at banks with bigger balance sheets (like you mention Citi, JPM) both because of scale and because that scale adds more operational and regulatory responsibilities?
While more investment bank oriented shops with smaller balance sheets (GS, MS) Treasury is relatively more focused on capital markets, funding, and hedging?
Would you mind explaining how Treasury can lead to a potentially quicker path to P&L responsibility?
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