Does BMO Capital Markets only focus on Capital Markets, or also Corporate Finance (Advisory) roles? - 2023
Hi all,
I was offered a position at BMO Capital Markets in Chicago recently, but the name "BMO Capital Markets" left me feeling a bit uncertain. While I understand that Capital Markets typically refers to ECM/DCM/LevFin, I'm aware that BMO also offers services in M&A and industry coverage, such as FCR and Industrials. Have also heard some folks on WSO speak about BMO having separate "middle market" and "capital markets".
Does their name misrepresent their offerings?
I'm also curious about the potential differences in exit opportunities between Capital Markets and Industry Coverage/Product groups, if I choose to accept the offer and engage in group placement. I would appreciate your thoughts on this matter.
I've already read a few other discussions and forums about this, and have garnered a general idea. Nonetheless, I would appreciate any fresh insight you all may have on this.
I would also be grateful if any of you fellow monkeys could share your opinions about BMO as a firm. I've heard mixed reviews, both positive and negative. According to associates and analysts I've spoken to, compensation seems to be on par with industry standards. As a middle market bank or an "in-between-a-bank" category (IBAB), I understand that exit opportunities may be more limited. However, I've also heard of individuals who have successfully moved on to top-tier private equity firms (Megafunds) after lateraling from BMO to BBs to garner more prestige.
Bump
Bump
Bmo capital markets is the name of their IB arm. Have groups like ECM, DCM and lev fin thar are actual capital markets groups but have traditional IB coverage and M&A teams like everyone else. MM focused bank outside of Canada.
What are your opinions on BMO Capital Markets as a firm? Is it possible to lateral from it to a BB (if I decide to pursue better exit opps for PE)?
Yes, I was an analyst at BMO and was able to lateral as were most people from the firm who wanted to in 2020-2022. That said the lateral market is pretty much closed right now given market conditions and they might make you repeat a year. That said BMO won’t be the reason you don’t get an offer. Everyone there is incredible hard working and sharp and just as capable (if not more) than the juniors at my new firm. BMO is a good firm and if you make it to associate, you get paid well and have great WLB.
BMO overall is strong in Canada but in the US it is a MM bank. Metals & Mining is their best group and is often ranked as the best M&M group in the world. So if your offer is for M&M, you will get significant M&A exposure but the downside is that the group is well known to have a toxic and sweaty culture. Some of their other strong groups are M&A and FCR. In the US, if you are interested in large cap PE exits, you will likely need to lateral. I don't know much else about them but overall, your experience will be highly group dependent
I got the offer too. It’s just a generalist offer. About 2-3 months before summer 2024 there is a day where you meet all of the teams like lev fin, CFR, ECM, Real Estate and whatever and then u network for a few weeks then you preference which group you want. They also choose on the other side.
Do you have any insights on BMO’s groups, in terms of reputation, culture, exit opps (lateraling to BBs and then MF PE, or to MM PE) etc?
I just know that M&A group is the best. Didn't end up taking the offer so don't know too much more.
Where did you hear that information? Would love to learn more about BMO Chicago’s better groups (for exit opps to better banks, as well as for deal flow if I choose to pursue a career in IB).
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