Hi all, I will be joining the UK coverage team at my bank and thus would like to get a feel for the landscape and who the big players are. I have heard that BofA is quite good, but does anyone have any insight into how GS/MS/JPM/Citi/Barclays etc stack up? Thanks in advance.
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be wary of teams that include corporate broking in their coverage teams - broking doesn't execute or model
Strongest players imo are Barclays, MS, JPM - JPM has cazenove, Barclays has the heritage of being a British bank and banks most UK corporates, MS is execution heavy - i used to work in a broking team at a BB (not MS) and the team always went on about MS being a dominant player
Hey, thank you for the insight - when you say “execution heavy”, what do you mean?
they run and do deals vs originate and thats it (ie juniors just do the pitching - qualitative stuff only)
Can you transfer from corporate broking to coverage teams easily within a bank? Also, what are the exit options for corporate broking? thanks for your time
corp broking exit ops really are investor relations or shops like ondra tbf. Broking doesn't model and so you have little technical skills. As a broker. if a client needs an m&a advisor, your role is to direct them to your banks m&a team. thats it - it is not to go them saying "we, the broking team, will do the M&A", no it will be the M&A specialists. Instead, when they say "hey, how do our competitors report adjusted EBITDA?" you wil then go and scroll through rivals annual reports and read the notes - you are basically outsourced investor relations
Hey I really apreciate the reply. Do you think it is an okay internship to have for the summer? or will it be a problem when it comes to full time recruiting?
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