Best BMO TO groups?
What are the best groups for exit opps that won't pigeonhole me? Leaning towards Metals & Mining, M&A, Tech, DIG
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Metals & mining is great if you're homophobic
M&A and DIG. M&M is not worth the abuse and Tech group doesnt do jack shit
Is M&M worth it for SA for its reputation if I recruit FT?
U wont have the time to rerecruit if ur doing SA at MM. Back when the cancerous core was still there u 100% wouldve been reprimanded and punished if u disappeared for too long. Maybe its better now that they are all gone but wouldnt bet on it. Also the incremental prestige that MM has over M&A or DIG is not big enough to justify it
Metals and mining is extremely sweaty. Only group that is worse is RBC Calgary (excluding the global satellites).
M&A and DIG are phenomenal. Great deal flow, good culture. Solid groups all around.
FIG I’ve heard is relatively chill, weekends you’re not doing much work if at all. Great people who are all extremely smart.
Know much about the global satellites in calgary?
JP is really good. The rest are iffy.
Bump
P&U has a good culture, may not be the best for exit opps though
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M&M, M&A and DIG. FIG has great culture but you get pigeonholed slightly by being in FIG.
FYI m&a at BMO is a glorified M&M support group for the most part... a ton of the people there are ex. M&M. This is because of the volume of M&M deals they cover
Not sure why this comment got MS. It’s absolutely true. DIG, PUI, FIG, RE all keep everything in house and will only involved m&a if the ppl are absolutely at max capacity. The only coverage left besides m&m is tech who does fck all.
Ive been around awhile so ill give you my honest assessment:
M&M - objectively the best option. Outside of the recent news articles, would say this is the only truly ‘global coverage’ team at BMO. You could work on global transactions based in TO as well. I would note the recent cultural issues were swiftly dealt with, but its still not great and not changing overnight. If you can hack it for an internship, you could roll it into a better Canadian bank offer (e.g. BarCap M&M TO) or lean on it for a US/Intl. offer.
M&A - basically M&M lite, BMO is a natural resources bank - you will be working on Mining/Energy transactions primarily in this group (sometimes with clients in vastly different timezones). Culturally the jr team is great, all pretty normal and want to do a good job. However, not a lot of Sr. ASC/VPs in the group and given that you are staffed independently with coverage groups, most of your training will be through the coverage bankers you work with (if you are working with hands off VPs/Ds, can make the job frustrating). You will get good deal exposure within this team, as you would expect.
DIG - historically has been a franchise group, second to M&M. Have never heard anything bad culturally, and the jr. team seems to be tight. However, only pockets of activity in their coverage and there are some juniors who do not seem to be up to much. Word was that they were overstaffed at jr. level the last couple of years.
Tech - good people, but sector has been dead for awhile across most banks. If you want good experience you likely should select a group with more going on at the moment.
My recommendation is M&A for reps, diversity of experience and (slightly) more reasonable culture.
Lean towards another bank!!!! Bmo is horrible and treats its interns so poorly coming from someone who works there and has some friends in IBD at BMO.
What were your Monday-friday and weekend hours like?
I’ve heard pretty consistently that bmo works their interns way more than other b5 banks in Toronto and it’s not even close. I think the bmo pay is slightly higher (100k iirc) but if the hours are ridiculously longer than what you’d be doing at rbc / td / etc. then it’s probably not worth it.
All banks albeit for NBF pay 100 now, with some bumping analyst base to 105 as of recent. Comp point doesn’t stand anymore :/
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