Investment Banks in Montreal

Hello, I was wondering how many Ibanks there are in Montreal, both BB and Boutiques. Also, whats the salary and pay like in MOntreal in comparison to those in NYC and London. I live in Montreal and would like to have a career here in Montreal. Thanks, J

24 Comments
 

Montreal salary's will be much lower then in NYC or London. The culture there does not put nearly as high an emphasis on work, which is reflected in the hours worked. To get an idea of what banks operate in the city, take a look at the IDA website.

 

Thank you for your input. Also, have you ever heard of Genuity Capital? if so, what do you know about them? and how do they compare to other banks? Thanks, J

 

Genuity is no more then two years old. Was founded by a former MD at CIBCWM. Although they have a fairly high profile for a small firm, they are still a boutique investment bank. Reputation is quite good.

 
Best Response

Genuity - Mtl office is run by the former restructuring officer for Air Canada, which on a post-restructuring basis is one of the best examples of value enhancement. Other key guy in Montreal is a former MD in CIBC's M&A team. To Iceman - Genuity was actually formed by the former CEO of CIBC World Markets and 3 of his lieutenants, all of which were group heads at CIBC (Diversified, TMT, M&A)

CIBC WM - Sizeable Montreal office that does a lot of activity amongst large and mid-cap corporate clients in Quebec. Probably 15-20 bankers.

National Bank Financial - Leading IB firm in Quebec and a subsidiary of the only big bank headquartered in Montreal. Probably have 30-40 bankers.

BMO & RBC - Both have meaningful track record and presence in Montreal on par with CIBC. Offices are about 20 each.

TD - Run by a former MD from CIBC. 2nd tier in Montreal. Less than 10 bankers.

Desjardins - Big credit union with an institutional presence. Focused on small cap issuers.

GMP - small Montreal office.

Others - Lazard, Rothschild, Scotia, Credit Suisse (I think).

 

Never mind...I'm a dumbass. Apparently Quebec does have a provincial tax and it's higher than Ontario.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

No income tax in Quebec? That's classic.

Yes most European banks have a small office here. However, they are not the type of place you want to work at as an analyst. You will get a better experience out of Toronto where there is a much larger analyst class. TO is the place to be in Canada for banking, especially if your TO office covers Calgary.

I thought of doing banking here, but it is best to go to NYC, London or TO if you want the full experience and more long term exit ops.

 

Well they may have an income tax, but at least they don't lose $2.3 trillion like they did at the pentagon. They could shake that building for loose change and they'd get an entire year's budget.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

Any updates on this? My understanding is that all Big 5 banks (RBC, Scotia, TD, BMO, CIBC) have investment banking operations in Montreal. National Bank is HQ'd in Montreal, same with Desjardins, which both must have sizeable investment banking operations (for a regional bank). I don't know if Laurentian has an IB arm but I'd guess they do.

In terms of American banks, BAML apparently has an office in Montreal, although that is the only one I know of.

Lazard Asset Management has an office in Montreal, unsure if there are some people from the banking division working there.

I know Societe Generale and HSBC have offices but am unclear on what is done exactly.

Anyone has any insight?

 

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