Could anyone explain what the main differences are between the two? It seems as though one is just for product groups, whereas one is just for coverage groups. If that is truly the case, would anyone happen to know what HSBC IBD is best at? (debt, equity, M&A, a particular industry?)
Thank you!
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help would be much appreciated!
Global Banking is effectively HSBC's corporate bank.
Capital Financing houses, to my knowledge, DCM, LevFin, project finance and M&A. The bank is obviously best at balance sheet related products. You'll also see them on advisory roles where buyers in Asia are expected to form a notable component of the auction process.
Not true, I'm pretty sure GBM is HSBC's Investment bank and M&A is separate from their Cap Financing houses.
But you are correct, HSBC has a huge balance sheet and arguably their best "group" would be Leverage and Acquisition Finance
Global Banking = coverage of industry sectors, yes, which effectively falls within vanilla debt products/trade finance/cash management at HSBC for corporate clients. I wouldn't call it an "investment bank" by any stretch, and no one on the street would, in my opinion.
thank you for the responses! It seems as though global banking is the industry coverage, but also seems to include some relationship management work. Would you guys suggest I apply to cap financing to go for LevFin? Additionally, I emailed HR there and they stated that even though M&A is technically in Global Banking, I could apply to either Global Banking or Cap Financing for the M&A team..
You should apply to whatever suits your interests imo
did you hear from them for first rounds?
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