IB ranking Infrastructure/NatRes/P/U in London 2021

Hey guys, what do you think is the top 5/10 IB in these fields in London for the coming year ? And do you think that bonuses are higher in this industry compared to healthcare or stuff ?

8 Comments
 

Citi has one of the strongest teams in Power and is quite good in Infra as well. Power is a bit sweaty though. The team is standalone but Infra is housed in industrials. I know a dude quite well who stayed in infra for a long time and he has a pretty impressive deal sheet and incredibly sharp. Citi has a pretty good footprint in NatRes as well.

BAML is very strong in NatRes. JPM has done some cool stuff in infra recently and NatRes is a good team as well. Infra is in DI (Diversified Industrials).

I think Barc does well in P&U due to financing.

Generally, balance sheet banks do incredibly well in infra and power as it's super financing heavy.

Not a P&U/Infra/Industrials guy but I have very good friends who love the space and work/worked in some of those shops.

 
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Ranking per deal value (otherwise KPmG, EY and PWC are in the ranking based on number of transactions).

Europe financial advisor for P,U&I jan 1 - Dec 31 2020 (source: Inframation) 

RankCompanyTotal (USDm)Transactions

1 Morgan Stanley 25,34312

2 BNP Paribas 24,60215

3 Rothschild & Co 23,39129

4 Societe Generale (SocGen) 17,45811

5 Bank of America (BofA Securities) 16,7658

6 Citigroup 16,29511

7 Barclays 14,0895

8 Goldman Sachs 13,88511

9 Lazard 13,86212

10 Royal Bank of Canada (RBC) 13,62715

 

MS P&U is strong too. Sits separate from infra (which is really the transpo group). Life is tough there tho.. quite niche space, need to study and understand the reg framework of each country and model accordingly, dealflow is strong and geared towards buysides. They do a lot in reg assets (electricity, gas distribution or transmission) across EU; Portugal, UK, Italy, Austria, Germany, Greece etc. Also RES / clean tech.

Good clients too, infra investors (MIRA, KKR infra, Allianz etc.) and strategics (Snam, Fluxys, EDP, Iberdrola). Now on the buyside of WPD.

Overall, their share of total IBD fees earned in London is small but team is strong, good exits too.

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