How strong is HSBC in London and Europe are they MM (from people who actually work in Banking)
I would like to preface this by saying this isn't an attack on prospects but a lot of people on this site who haven't left the continental USA or finished college give a lot of bad advice regarding International banks so I would prefer if someone with industry experience chimes in.
I have a chance of moving from NYC to London since a contact of mine in HSBC gave me a heads up but I can't seem to find any recent information on their strengths in London and Europe and people on this website call them a and even Rothschild no name boutiques which is kinda laughable.
I see them hovering on league tables hovering around the middle 10 but due to their size they are still quite a large bank. Would they qualify as MM? Rothschild has been called one of the strongest banks in Europe so its possible that a bank with little presence in the US can be quite strong in Europe.
Also can anyone comment on their culture
Rothschild EU is significantly better than HSBC EU. Completely different levels in terms of prestige, dealflow, etc.Hear from friends that its pretty dogshit in terms of dealflow, but I mean beggars cant be choosers so take it and try to lateral if its your only gig.Semi-related but Met some pretty smart dudes on their CB stuff tho. (Maybe applies to DCM and levfin) Decent credit exits.
HSBC's dealflow in Europe being dogshit isn't true. I've heard similar stuff about their DCM and credit stuff too that their quite strong there with decent exits to credit funds. Any word on culture?
Edit: Removed unnecessary verbiage and toned down harshness
I guess my source for dealflow being bad wasnt too valid, so I guess take what I said with a grain of salt.No too sure on culture in IB but CB culture seems pretty decent from those ive talked to. Ig I may have been thinking NA dealflow
Had a friend who interned there in London so take this with a pinch of salt. He said LevFin/DCM are generally considered the strongest groups due to BS - most coverage groups fairly small and considered average, though FIG is a decent size.
HSBC is trash tier - no deals. Don't go. Most of their analysts jump shift to another bank after they realise that their 18+ working hours per day are for pitches not deals. (They also have really bad bonuses)
A few thoughts:
As an analyst, is it the sexyest place? Maybe not, but there are some good quality people around, both in product and sector teams. (For example One of the sector team heads is a former GS partner, highly effective even if the team works hard). You’ll do good levfin deals, and most likely sponsor M&a on buy and sell side.
Exits? Probably not tier 1 funds, but I have seen good people get really good PE jobs. Also, good options to lateral after some time.
If you have choice between JPM and HBSC, I wouldn’t go for HSBC, but it is a solid place to start a career, learn, build a deal sheet, and have some optionality.
How would you compare HSBC to independent investment banks? I've got Summer Internship offers from both HSBC and Torch Partners (an independent technology IB) for IB and I'm not really sure which one would be best - especially long term
Would god for HSBC. Always good to have a (stronger) name on your CV. Plus, hsbc still has a good deal flow. Torch doesn’t pay that well and is not that well known.
Only go Torch if you have a passion for Tech
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