Investment Banking US League Table July 2024 (FactSet)
Thoughts? Big changers: Moelis, Rothschild, Guggenheim, etc.
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The paramount deal must’ve been great for Moelis
Gugg not doing too hot
any reason in particular? are they struggling to get deals or keep them?
UBS making any progress?
Meh, a bit weird to look at UBS IB performance purely through M&A fees. Don't remember the firm ever saying M&A was the biggest growth area. Look at UBS lead-lefts for single B's this year (best proxy for sponsors deal), they are top 5 or were last I checked. They are also top 10 in ECM despite being nowhere near that the year previous. M&A and DCM have been lagging, but other products have seen demonstrable rises in league tables, fees, and rankings. Also would use deal logic/Bloomberg over factset btw, more trustable source-wise and used more often in decks across the street.
They’ve always been a sponsors/levfin led bank. You’re too much of a bozo to post so much about UBS
Can you just shut up man? Tired of seeing your name after your fake insensitive BoA protest post and constant shitting on Barc/CS/UBS.
.
Exits
You also have to view it through the lens of headcount and productivity (e.g., Revenue per head). The banks you’ve highlighted are relatively smaller but do an outsized amount of deals relative to their size. For example, Moelis and PWP have some groups with just one or two MDs that have done a ton of high quality deals. If you’re one of the analysts on those teams, your experience is going to be better than being the nth person at a bulge bracket coverage team.
Significantly lower headcount leads to significantly higher deal flow per head, thus prestige
This is fairly obvious.
League tables are pretty useless as the fees per ib head is the real metric to assess performance.
Very interesting
Could someone post Bloomberg's league table as well? Should not be materially different but just curious to see. Thanks!
bump
RBC > UBS, DB, WF
In NA it's debatable, although from the exit perspective DB and UBS still have an edge. Globally UBS and DB are clearly more reputable. I wonder why you even included WF in your comparison lol.
Ye no this is a wild take. UBS is above RBC in every other region by such a big margin that it's comedy. UBS is top 10 globally in every product except DCM. UBS is also above RBC in Lev Loan leads by a significant amount and above RBC in ECM too just in the Americas (UBS's weakest region by far), I think you can argue that UBS is a straight-up better Americas bank over RBC especially given their cross-border deal flow and their extremely strong APAC team (league table wise top 3 across all products except DCM). Globally there is no contest, UBS has been above Barclays YoY in M&A globally for the past two years and above Barclays even more in other products. I am not saying UBS > Barclays but given league tables since the acquisition + all the senior hires they have done, those two banks are at least the same tier on a global scale. Btw, before you say I am biased: I work at Barclays lol. I might be slightly negatively biased towards Barclays but not really pro-UBS or anti-RBC, UBS > RBC is truly a take only WSO can have though.
No one cares about anything outside the US. Happy belated July 4th.
Truist > Gugg
Glad to see Rothschild moving up in the US. Surprised to see Lazard so low... they're usually top 10 in the leaderboards
Paramount deal is a massive portion of their fees this year. They were credited as sole advisor to Paramount company
How does Rothschild keep getting on notable deals despite it not being good in the past couple of years?
Where is Piper?
#36 in the US with $7.2Bn and 44 Deals
Is posting this technically a violation of factsets TOS? I'm not a nark, but I am curious.
Someone call the police
Big up Citi
Can someone post the next 30?
Jesus Greenhill at 50 through 6 months? What is their total deal value and number of deals?
Any shot you could do 51-100? Lol
lol homie at that point the answer is yes you should lateral
This is why I hate these rankings. Houlihan Capital did one $8B deal? Get real.
Moelis with 38 deals and that low?
@patrick how are people supposed to see these screenshots in the app?
Wow EVR
How has RBC made such a drastic jump in comparison to the other Big 4 Canadian Banks?
RBC has always outperformed no?
Yeah idk - even then, what made it be that way ig? Cause the gap between them and the closest one (TD) is massive and it just doesn’t make sense to me cause european banks (UBS, barclays, CS back in the day) we’re similar in league tables, US banks the size of TD equivalent are similar, but there’s just a massive gap in Canadian banks in terms of league table. feel free to correct me if I’m wrong.
When will JEF and RBC be considered BBs?
What a fall off for DB and of course, CS
Never, they have been above DB in basically all the league tables and have been above UBS in the US as well (yes IK UBS is larger globally, but am talking about just the US here). It's just a historic thing, the only real issue is that headhunters follow it. For better or worse, the kids at the top DB groups get better looks from headhunters compared to RBC top groups and have better exits.
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