Hi everyone!
I am a sophomore at a target. I have an opportunity to intern with CICC (China International Capital Corporation) in its IBD in Shanghai (personal connection) this summer. Should I take it? Will CICC's internship help me in my internship application during my junior year? I am aiming at a BB IBD SA in my junior year.
Thank you!
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yes
Yes, it would likely help.
Do you have other options for the summer?
Any other options?
What about HSBC IBD? How's CICC?
Isn't CICC pretty much regarded as the top domestic Chinese IBD shop? Them and CITIC?
Yep! Plus, you're only a soph :) An int'l experience at one of the best Chinese shops would not hurt you. I got a friend like you, her path is domestic top PE fund in soph -> BB IBD internship in junior -> MBB offer in her senior year. Good luck & enjoy Shanghai!
Yes, take it.
Thanks everyone! Hope it will be really helpful for my internship in junior year.
BTW. How's CICC in BB recruiters' eyes? How's it compared with HSBC?
CICC HK IB (Originally Posted: 01/19/2012)
Hi,
I was wondering if any monkeys here have had experience with CICC (China International Capital Corporation) IB in Hong Kong?
Background info on the bank. It's a joint venture bank between CIC (China investment Corporation - China's sovereign wealth fund) and KKR, TPG, GIC and formerly Morgan Stanley. Relevant I'd say in Asia & Hong Kong and surely dominant in China for SOE IPO offerings.
Any experience as an IBD SA or FT with the firm will much be much appreciated.
I have had experience with Bulge Brackets but I don't have much exposure to Chinese Banks and their culture.
Thanks!
What I hear is that it's mostly staffed by Chinese (as in, of Chinese nationality) people, and that they do indeed get a lot of dealflow in China, through very strong connections with local business and politicians. Wouldn't know personally, though.
What do you mean by "experience with the firm"? Please clarify.
Experience as in "previous employment with the firm as an SA, FT or simply interactions and things you've heard about CICC IB"
Sorry about that!
If you want to work in CHina long term, no reason not to start at CICC. A solid upper tier foreign BB in HK will be good as well.
Yeah that's what I've heard from my friends as well, I'm just wondering if I will miss out on BB IBD exposure (aka more modeling intensive work). Just a note, I have interned at a BB before.
China is definitely my long term destination, so CICC is my top choice.
Very strong bank, very good pay. but just hard to get in
Yeah I agree, the process was not easy and certainly demanded a good command of languages, technical skills and a mix of personality.
Have you worked there? If so, I could use some tips. Feel free to PM me.
Thanks!
Neither here nor there, but there seem to be a lot of ex CICC guys running around on the buy side here in the PRC. To be honest though, I have no idea how many are from the HK office vs. other locations.
Making a prediction that in 10 years time, CICC will absolutely obliterate foreign BB's on APAC league tables. Also, as soon as Shanghai opens its international board - foreign BB's go the way of Google China.
Considering CICC, amoung other Chinese firms, is subsidized by the government and foreign firms are effectively hamstringed when operating in China, I would agree. However, that assumes the Chinese government is still in existence, in its current form, in ten years time.
To the OP, CICC has a decent IB dept., about on par with Citi in regards to capability. Good at sourcing and acting as local advisors, but this comes from their close relationship with the government, not any particular skill set. They are less than average in regards to AM or WM. Much better firms in China, including Ping An, which has an incredible network of HNWs and UHNWs.
Current CICC trains analysts for Goldman Sachs. Word from one of the founding employees. Just letting you know.
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