I am in the recruitment process for an Investment Banking off-cycle program at Santander Corporate & Investment Banking.
I am well aware Santander is not a Bulge Bracket, but could be even considered as a second tier Bank? I know it is a pretty big bank, with a huge presence in Spain, UK, US and Brazil, but I don't know how important is its IBD division.
Does anyone have any experience working in IB at Santander? How is their deal flow? What is the size of their deals? What are the exit opportunities of Investment bankers at Santander? It is easy to lateral from Santander to BB or EB?
I don't have any alumni from my school at this Bank, that is why I am asking this here.
Can’t speak for anywhere else but at least in the US BNP/HSBC/Nomura is considered a tier 3 bank. Santander would be a tier 4 bank, thats how irrelevant they are.
just curious would this assume tier 1 is BBs+EBs?
Don’t want to make it a full blown rankings (god knows we have enough of that) but generally yes would consider those tier 1 followed by top MM / reputable boutiques at tier 2
Some on the other hand would label UBS/DB as tier 2. (Which I’d agree with)
Once again not for rankings but generally how people would view it
What are you taking about?
They are growing like crazy and they are doing pretty well in a couple of niche markets that you would not know about.
They FX trading group is one of the best in the world. In terms of DCM for Europe or LATAM they are top 3 groups.
They are just not the general M&A bank, and they know it.
Santander is starting to grow its M&A team too
Agree that Santander is probably a 'tier 4' bank or at least less known than BNP/HSBC/Nomura. . Also, I don't think I've ever seen the name anywhere except on an ATM once.
La Liga Santander as well
Previously BBVA
It depends on the region you are referring to. In Brazil, Santander is strong (among top 5) as much as I know (consistent M&A dealflow).
I have worked with a few people who had jumped from Santander. All I can say is they were the laziest people I ever met and looked like they were burnt out. The head of the group was from Santander and he was hiring runaways from his old firm. Also prepare to work with really obnoxious Spaniards. Their culture is pretty much no one leaves before your higher up even if you have no work at all. It’s how it works in Spain too. They think spending all day at the office is a sign of a productive worker. Clearly it doesn’t reflect on their economy or banks.
Savage
You’re very ignorant. They are actually hiring from top tier banks in the groups they compete.
They don’t even try on M&A or strategy.
They are a really good bank to start your career and the exit opportunities are actually quite good. There are a couple of dudes at KKR working in the capital markets group after spending a couple of years at Santander.
For traditional banking, pretty bad.
However, their treasury group ins Texas is one of the best places to go to if you're looking to learn about subprime consumer finance (auto loans/leases,etc). Their treasury group works on so many subprime auto loan and auto lease transactions that I'm sure you get to learn a lot about the consumer side. That group is a sweatshop, with long hours.
I can send u the 2018 and 2019 league tables master excel file to see what deals they were a part of in the US. I think that should more quantitatively answer your Q. what exactly is the role? can u copy and paste the job description?
Interested in seeing the league tables too
What if I told you I could send 2020,2021 and 2022?
Upgrade just got serioes funding from Santander helping FinTech space so this is relaly solid for the company. Making strides. YOu all know which bank did that? I can't mentino it but this is it.
Also, my wifi connection to this website sucks. MIght accelerate my leaving this website for good.
Anyone heard back from the first round interview for SA 2021?
nope you will hear back next week
can you keep me updated if you hear back about superday?
Hi, I heard back last night
anyone else hear back about superdaY?
Has anyone heard back from the superday?
Ghosted emails lmao
I heard back last week, forgot to check the forum. Sorry for the inconvenience
2019 deals - new money (M&A/LBO/Spin-off)
Leon Interiors Inc RC Acquis. line 65,000,000Automotive
Empresa de Energia del Pacifico ESPTerm LoanAcquis. line 190,000,000Utilities
London Stock Exchange Group Plc LSEBridge LoanTakeover 9,325,000,000Financial Services
Harsco CorpBridge LoanTakeover 500,000,000General Manufacturing
HealthEquity IncRCTakeover 350,000,000Financial Services
HealthEquity IncTLATakeover 1,250,000,000Financial Services
Direct ChassisLink IncRCSBO 1,000,000,000General Manufacturing
Kontoor BrandsRCSpinoff 500,000,000Textiles and Apparel
VSP Optical Group IncTerm LoanAcquis. line 1,200,000,000Healthcare
WEX IncDelay Draw Term LoanTakeover 275,000,000Business Services
WEX IncRCTakeover 25,000,000Business Services
WEX IncTLATakeover 300,000,000Business Services
Kontoor BrandsTerm Loan BSpinoff 300,000,000Textiles and Apparel
Kontoor BrandsTLASpinoff 750,000,000Textiles and Apparel
VSP Optical Group IncRCAcquis. line 250,000,000Healthcare
Moran Towing CorpRCAcquis. line 100,000,000Shipping
left-leads (admin agent)
Leon Interiors IncRCAcquis. line 65,000,000Automotive
Wind Turbine & Energy Cables CorpRCCorp. purposes 75,000,000Utilities
Eastern CoRCCorp. purposes 20,000,000General Manufacturing
Rand-Whitney Container LLCRCCorp. purposes 20,000,000Paper & Packaging
Rand-Whitney Container LLCTerm LoanCorp. purposes 35,000,000Paper & Packaging
Mountain Laurel Funding Company LLCTLACorp. purposes 79,000,000Financial Services
Eastern CoTLACorp. purposes 100,000,000General Manufacturing
BGB CommunicationsRCCorp. purposes 5,000,000Media
BGB CommunicationsTerm LoanCorp. purposes 72,500,000Media
If you wouldn’t mind, could you explain this and what it means for Santander?
Hi all, just to know if anyone has any insight into their Structured Finance group? As far as i understand it's a recently established group focus on Energy, Infra and TMT related PF, plus an LBO team.
How do they look like in Europe? They seem to be on the top of league table with regard to PF. Appreciate it if anyone could give some insight about their deal flow, culture, and exit opps.
I'm in structured finance. I wrote the comment above about the treasury group.
They have absolutely no deal flow in the US. In fact, even Santander uses other banks to structure their transactions instead of relying on their own bank as a structurer, which speaks volumes imo. Their treasury group in the US (based in texas) is extremely busy and originating record high subprime auto loans/leases. From my interactions with the treasury team, culture seemed great and hours seemed brutal due to the high deal volume.
-
Interested to know as wel
They are not too bad in Infra / Energy / PF
It’s a balance sheet bank with limited product and global footprint. It is quite significant in Spain and LATAM though - as such any sort of ranking/tiering would not be helpful.
Well even in Spain they are considered tier 2 (or even 3 if we count the big boutiques) despite placing T5 every year in Spanish league tables.
Awful pay vs other banks (think 30% less), extremely sweaty and a woke culture that makes it pretty unbearable. Also some of the most obnoxious people I have ever met in my lite + culture of sitting down at their chairs for 10 hours without actually doing anything. Usually hard to transfer to a better bank bc of this reputation
….
bump
I used to work in BBVA Spain so I am well aware of the Spanish landscape. What you say is entirely accurate
lmao it's a bad bank bro, they literally somehow managed to pull off the impossible and lose a court case against an individual as a monopolistic institution in Europe, to a foreigner. Look up the Orcel CEO payment court case, literal meme.
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