I'm so confused about the difference between GCB and CCBSI at JPM - it seems like one is in CIB and the other in commercial bank, so I assumed GCB is the cooler one and has more exposure to IB? However it doesn't seem to be the exact case so can someone with real experience explain the difference? Thanks a lot
Reference:
CCBSI: https://jpmc.fa.oraclecloud.com/hcmUI/CandidateEx…
GCB:
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Correct, GCB is part of the CIB while CCBSI is CB.
With regards exposure to IB, when it comes to DCM transactions, GCB have little to no involvement - the GCB senior may be on some of the calls but they aren't advising the client on structure/ terms etc. or even commenting on the credit; the GCB senior may smooth some of the messaging if we are negotiating terms. The juniors have very little input beyond doing some prep work for the presentation to balance sheet
Cannot comment if GCB get more exposure on ECM or advisory work but would surprise me if so since GCB is more of a touch point for the client to understand the clients needs needs and then suggests solutions before introducing the client to relevant product teams
CCBSI do work on some IB deals as well, although less frequently, e.g. a CB client could want to issue a HY bond or TLB and in that case the relationship is still with CCBSI (as opposed to GCB) and assume the same applies for ECM and advisory - i.e. as far as I am aware (admittedly not in either GCB or CCBSI) a client doesn't move between being GCB and CCBSI the relationship manager stays the same so a CB client could grow to be a large IB client but will continue to be covered by CCBSI
Will let you draw your own conclusion on which is cooler
So GCB is straight relationship management? Unclear what they do
Largely yes, which comes with them being involved in pitching for mandates (anything ranging from cash management to setting up a FX line to issuing a bond). For execution GCB isn’t particular involved, beyond a senior GCB banker helping with the messaging as and when it is necessary. GCB are generalists, understanding what the bank can offer across all its functions, but the product teams who devote all their time to one product are going to be leading
they may be more involved in TS or S&T work streams but I don’t have visibility over those areas of the bank
Thanks this is really informative! How's the internal mobility from both groups to IB at the junior level?
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