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And who are the big boys, is it still GSJBW? and Macquarie?
Relatively quiet for M&A, booming for capital raisings in the past several months.
UBS, Macquarie and GS JBWere are all still up there pretty much.
geetarjoe,
I presume you work in one of the banks in australia. I know this is quite hard to determine purely by looking at the league tables in australia as the market isn't as large and so positions fluctuate substantially but if you were to go back over the past 5 or so yrs which 3-5 banks do you think have the strongest IBD business?
The people I have spoken to believe it to be UBS, Macquarie, Goldman, Deutsche, CS/JP Morgan/Caliburn in that order essentially. Is that reasonable?
I'm particularly interested in what you think of Deutsche, Goldman, and Merrills.
UBS and Macquarie would be the top two going back over the last few years. UBS had a blitzing start to this year in equity capital raisings - they were pretty agressive in committing to underwriting and won a swag of business. Macquarie's slowly caught up, and is getting a fair chunk of the IPO market which is starting to reopen here.
Goldman Sachs JBWere has been having a great year down here (particularly on advisory mandates), they've really improved in the last few years.
I'd put JP Morgan and Merrill Lynch ahead of DB and CS. Merill Lynch cut their workforce down here pretty severely during the GFC, but they're rehiring now.
DB and CS have traditionally been perceived as having weaker advisory practices and haven't had a lot of big mandates. Similar thing for Morgan Stanley and ABN Amro.
Caliburn, Lazard and Carnegie Wylie have all benefited from being "independent" advisory houses - you'll get solid deal exposure at these places due to smaller team sizes.
As you say, league tables down here fluctuate quite a bit, and for your big deals (eg Rio/BHP) just about every bank will get an advisory role.
Once you move away from the bigger guys you're dealing with firms like Greshams, Azure, WilsonHTM, Argonaut and a whole host of smaller "boutique" advisers.
can anyone answer the above?
UBS and macquarie. And I think Goldmans really is starting to gear it up, getting involved in a mlot of massive deals.
I remembe rwhen I was there we were trying to work out the whole BHP / RIO deal, man that wouldve been massive!!
Balooshi what do you mean when you were working on it? I thought you were in transfer pricing at a big four firm?
woops... haha
If you want to look at the consistent top performers over the last 5 years this is what it looks like.
ECM - UBS, Macquarie, GSJBW DCM - Citi, DB, M&A - UBS, Macquarie, GSJBW
Generally speaking, UBS has the best overall Equities business and DB probably has the best Fixed Income business.
well 'we' was collective for the whole of GS where I used to work. But I didnt work on it directly. Came out wrong (although maybe I was just trying to big note myself).
Anyway it was hard on me, we were all black banned from trading in any BHP or RIO shares!!!
well 'we' was collective for the whole of GS where I used to work. But I didnt work on it directly. Came out wrong (although maybe I was just trying to big note myself).
Anyway it was hard on me, we were all black banned from trading in any BHP or RIO shares!!!
what about private equity in aus? is it as hard to break into as in the US? do you have to have a BB background?
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