Industrials Rankings.

Based on the most helpful WSO content, here's the breakdown for Industrials rankings and your questions:

1. Bulge Bracket (BB) Rankings in Industrials:

   • JPMorgan (JPM) is often highlighted as a strong player in Industrials, frequently mentioned alongside Citi and Bank of America Merrill Lynch (BAML) as top contenders in this space.
   • Goldman Sachs (GS) is still a major force, but JPM has been noted to have a particularly strong Industrials practice in recent years. Some rankings suggest JPM may have pulled ahead in this sector, especially given its consistent performance in league tables for bonds, loans, and overall deal flow.

2. Relative Strengths:

   • While GS remains prestigious and highly regarded, JPM's Industrials group has been recognized for its depth and breadth, making it a top choice for those targeting this sector.
   • Citi and BAML are also strong players, often competing closely with JPM and GS in Industrials.

3. Jefferies (JEF)/Baird vs. Deutsche Bank (DB)/UBS:

   • Jefferies and Baird are well-regarded in the middle market (MM) space for Industrials. Baird, in particular, has a strong reputation for MM Industrials deals.
   • Deutsche Bank (DB) and UBS, while still part of the BB tier, are generally considered weaker compared to top-tier BBs like JPM, GS, or Citi. In some cases, JEF or Baird might be preferable for Industrials-focused candidates, especially if you're targeting MM deals or seeking a more specialized experience.

In summary: - For top-tier Industrials, JPM and GS are the leaders, with JPM potentially edging out GS in recent years. - Citi and BAML are also strong contenders in the BB space. - If you're comparing JEF/Baird to DB/UBS, JEF and Baird might be better choices for MM Industrials, while DB/UBS could still offer broader BB exposure.

Sources: Top Investment Banks in each industry 2018, Time to rank the bulge brackets 2019, Is Goldman Sachs Still a Bulge Bracket?, Is Goldman Sachs Still a Bulge Bracket?, An old man looking for advice