As in the title, which are the best of the so called 'Balance-sheet' banks in London?
I'm referring to banks such as HSBC, RBC, Nomura and BNPP etc.
Thanks
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RBC.
Not Nomura.
Thanks for the answer, surprised that RBC is perceived as better in Europe than the European banks though!
Honest answer is it depends, do you speak any european language? Because it will really change your interaction with the team/bank you work at. Wouldn’t recommend for anyone not french/french speaking to work at BNPP but it still is a good bank.
.
Didn’t specify which desk - didn’t know things you described when it comes to the M&A team but anyways the point of being at a BSB isn’t to do M&A it’s to do something related to financing - ie LevFin as you mentionnes where they excel.
At the BB level, banks are generally good at both financing and M&A. Then comes in MM deals where MM boutiques will run the M&A bit and BSB will do the financing - it’s more or less split.
Barclays, Goldman, JPMC, Morgan Stanley, Citi, Credit Suisse.
Avoid Nomura, HSBC, RBC, BNP unless you have no other offers.
This is for London not US, but one could still argue US RBC/BNP depending on relative group offers
I cant speak for what exits look like at the Analyst level (GS/JPM/MS seem to be way above everyone else though) but Nomura, HSBC, RBC and BNP all have some very solid groups that are stronger than many of their BB counterparts.
How do Santander stack up against these banks?
Santander doesn't compare against BB's - simply plays in a different league. Less deal flow, more passive roles, and smaller deals.
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