CAD Big 5 Rankings

Hi All,

Just wondering what the current rankings are for the Big 5 in Canada? What would you say is the top group in the country as well? BMO M&A seemed to have a great in 2021, potentially taking out RBC M&A for the top spot.  

28 Comments
 

In general, RBC > TD >> BMO >>> CIBC >>>>>> Scotia.

These can change quite a lot depending on group though.

 

I would say it would still be pretty difficult. The Canadian market is just so different than the US market so even though BMO leads m&a in Canada, that doesn't old too much merit in the US. A once a year mega deal in Canada is a regular Tuesday night for an analyst in the US. Plus you will be competing with other analysts in the US. Although its definitely possible, I wouldn't say that it would give you all that much of an advantage. But this is just my opinion, I might be wrong.

 

Bank rankings depends on who you ask but a common view is RBC > BMO > TD > CIBC = Scotia.

Most people view rankings on a group basis rather than bank basis (ie. CIBC M&A > RBC DCM)

RBC M&A = BMO M&M > TD CMT > BMO M&A = TD M&A > Scotia/CIBC M&A etc.

 

Honestly speaking, the Big 5 are all pretty much the same. Pay is similar, exits are similar and experience will be relatively similar as well. Although some groups are better than others, you will still get a great experience even if you are in a "weaker group" in comparison to the other Big 5.

If you are deciding between which one to pick, I would say pick the bank that you best gel with culturally.

 

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