JPM/BofA/Citi deal flow in Australia
Was looking through Aus league tables YTD and found it surprising that these 3 banks are nowhere to be seen on M&A league table. Historically they've been very competitive in Aus so curious to see if the decrease in M&A has disproportionately affected these 3 banks? Or would they still be very busy working on cross-border transactions or deals that are yet to be announced?
bump
Aus has traditionally been a small market dominated by Mac/UBS/GS (in that order). Now that Barrenjoey broke off from UBS it is another solid top 5 contender. Outside of these four banks only MS feature in the top 10 with some consistency. The smattering of other boutiques, BBs and Australian banks will all get some shares but their deal flow have never been consistent (as a result of a small market that can probably only handle 4-5 entrenched players).
Any idea what day-to-day working at JPM/BAML/Citi would be like if deal flow is average compared to top shops? Consistently pitches?
Not sure - but Aussie IB is generally very chill by global standards. I know GS coverage team associates who can sign off at 6pm on Friday and not log back on until Monday.
Really depends on the bank/group. There are some super sweaty Aussie IB shops.
Any knowledge of sweaty groups amongst the JPM/Citi/BAML atm? Any groups that do nothing?
Infra teams at all 3 of those banks were sweaty as fuck last year. Makes sense given all of the infra acquisitions that happened. I've heard BAML nat res is generally pretty rough too.
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