HSBC M&A vs. Middle Market

Hey,

I've seen a lot of people on WSO giving hard time to HSBC IBD division. Sure I understand it's not a BB bank nor it has the prestige of EBs in London. But how does it compare against London's middle market banks such as William Blair/ Stifel/ DC Advisory? Is HSBC then a better place to start as M&A analyst than the mentioned firms?

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