Best mining groups aside from BMO?
Curious what the best mining IB is aside from BMO... heard its brutal there hours and culture wise. Open to canada US or london
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Macquarie has a strong mining platform
In my opinion, BMO, CIBC, TD, and Scotiabank do extremely well in Mining (and are consistently very strong). Canaccord has done very well too.
Some of the Toronto boutiques punch above their weight and do a ton of equity deals in the space
Great response. There are BMOs of the world that do the big headline deals but lots of other names across Canada/Australia that cover mid/small caps- juniors, developers, explorers etc. Smaller deals, lots of flow.
I don't really have a handle on where the BBs stack but probably a name or two in there for sure.
I couldn't agree more!
When it comes to BB, Morgan Stanley (did the Barrick/Randgold Merger) and BofA are very strong in the mining space (speaking in terms of the Canadian office). They don't do a ton of deals but are involved in the major ones
Haywood Securities in Canada does a lot in the M&M space
Come to BMO M&M. They really aren't that bad and for some reason gets a bad rep on the street. A bunch of nice people work there.
Heard there's an opening, so feel free to apply.
This is what you would call Stockholm Syndrome
Rothschild has a mining & metals group based out of Toronto I believe
They do but don't do a ton of deals (at least not out of the Toronto office. EMEA might be a different story
Yeah its mostly project financings
Barclays Toronto has a global mining team and look to do marquee m&a. Its their global team which means they do most of the execution in house and are on par with the other new york teams but just happen to sit in Toronto because of logisitcs
Associate salary is shit at Canadian banks. Move to US.
I believe Stifel has a Canadian mining team
Gutted GMP post-acquisition - Canaccord is eating their lunch
Hannam & Partners has a strong focus on the mining industry. They have a dedicated team who have done several deals in the MM space.
As you mentioned, BMO M&M is the obvious top group worldwide for this. Not only do they do very well in North America, but also very well represented in LatAm and Africa deals.
Then you've got some more of the usual suspects from Canada too. Scotiabank has a pretty good rep for M&M, but National seems to be getting more of the deal flow a bit more recently. CIBC is good too, a bit more represented recently on some of the larger deals though - lower volume, higher deal sizes. CIBC and National get more local deals in the Americas and don't get to work on international deals as much as BMO.
Canaccord, and one of its subsidiaries (forgot the name) is ridiculously underrated. While they are absolute beasts in financing transactions, they are absolutely cracked when it comes to M&A too, and get to work on more international deals than any other of the B5 banks except BMO. This is especially true in Africa. While I don't have exact numbers, it seems as if BMO and Canaccord get more deal flow in Africa than any other bank.
Rothschild is strong in the EMEA space, working on larger deal sizes with less volume it seems. They also have a mining office in Toronto, but I believe the cream of their deals are executed out of London.
Macquarie is very strong in mining too, don't know the details tbh.
Looking at Toronto teams in specific, you've got BMO, National, CIBC, Scotia, Canaccord. Globals such as Rothschild and Barclays also have dedicated mining teams based out of Toronto. Then some smaller boutiques like Haywood, Cormark, etc also do mining deals, but they mainly work on very small sized M&A deals and financing transactions.
National recently poached a bunch of MDs from Scotia to build up their Mining group. Would expect Scotia to drop in the coming years because of this.
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