Future of RBC Technology Group (NYC)
Hey everyone, just saw a report that Michael Carter (RBC's Global Head of Technology) left the firm. Currently, have an outstanding offer and wanted to know if there were any updates on the future of the group? Does anyone know if the group is looking to hire a new global head?
Also heard a bunch of people left other groups within the firm (ie M&A lost around 15-20 people in the NYC office). Any advice on group placement? Im looking to move to LA after my IB stint, which one do you think would set me up the best? thanks so much!
RBC in NYC has been hit hard by kids lateraling to better firms
Thanks for the response. Any chance you have insight on group placement?
Strongest groups: M&A, Tech, Power & U, Lev fin, Sponsors, Maybe FIG, maybe CME
Weakest groups: Consumer & Retail, healthcare
Terrible culture in M&A specifically - avoid at all costs.
Source: left for one of the EBs myself
know of a few that lateraled into RBC M&A. could you speak more on the culture/deal flow?
Weird, thought RBC was a BB now?
Can confirm based on roommate’s experience that RBC is seeing a lot of people lateraling out on both junior and senior level. Power, FIG and Lev fin are the best groups. M&A groups at any bank will always attract buyside recruiters tho, even at banks with weaker M&A (unless it’s something like HSBC where M&A is genuinely nonexistent). I worked in Tech and Healthcare when I was in BB banking, and I never saw RBC seriously competing for any decent sized deals in either of those spaces.
bump.
heard they poached CS tech banker as new group head. any intel?
https://www.bloomberg.com/news/articles/2021-07-13/rbc-nabs-trio-of-cre…
The posts about a ton of employee attrition is true, but analysts have been leaving from every bank.
RBC has also hired more analysts than the number that have left, which is why you saw so many hiring posts over the last few months
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