Citibank in Calgary?
Does anyone know about Citibank’s operations in Calgary? I heard they had a corporate banking and investment banking division. I’ve never met anyone in Calgary either of these divisions, yet they always place quite high on the Canadian League Tables. Do they have a big team in Calgary?
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This was from another thread and fairly useful. A couple things to add:
Credit Suisse: Have made a big push in Calgary in the last couple years, have been on a couple of big mandates. Peters: Have been struggling to get hired on deals and are starting to lose junior staff.
Both are terrible.
Boutiques are only good bets if you really want to stay in Calgary (don’t get he same level of modeling experience or exposure to deal sizes/types beyond vanilla WCSB asset/Corp deals and follow on equity deals) and it’s a bull market (which it’s not). Peters and GMP/FE are the only two really strong ones and they’re both struggling right now. But when oil is 100, these guys get paid.
Yeah I see no reason to say that Canaccord / Cormark are on the rise, they haven't been hired on anything lately. Peters is still struggling, and GMP has gotten hired on a couple of strategic review mandates lately.
As for the JPM/GS/CS discussion, JPM is above and beyond the best of the BBs here, and regularly competes with the Canadian Big 5.
GS seems to get a lot of business through U.S. clients (eg. Apache, Conoco, Marathon deals) but considering most of the U.S. guys have significantly downsized their Canadian businesses and likely won't be coming back here any time soon, I don't really know why they stay an attractive name going forward besides that it is GS, I'm also not sure how much of the execution on those deals was actually done out of the Calgary office.
CS should be considered above GS, they have gotten a number of high profile M&A mandates in the last two years, and they have been Calgary based relationships for Calgary clients, so I would expect them to continue to be competitive going forward.