I was wondering if anyone had any insights or thoughts on KeyBanc Capital Markets IB. I can't find much info here on WSO. I am currently a sophomore at a non-target but I have a connection there who can get me an interview for SA2021. Would appreciate any info on reputation, culture, comp, exit opps, etc.
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They recruit at my school (target) and seem to have a good number of analysts and even associates from non-target. Someone correct me if I’m wrong but I believe they are MM and also have an equity research team (not sure if they do S&T). They are small, Cleveland based, and hours are better than NY or Chicago.
Just looked them up. I’m not sure why I didn’t know that they do research and S&T but they do. Research actually looks fairly extensive.
They bought out Pacific Crest Securities (west coast boutique tech IB) a few years ago so they have (last time I checked) a decent tech practice.
I interviewed for them for experienced hire in the past, I know about them from a capital markets perspective. I’ll get back to u. or just DM me your email. I don’t check WSO every day
good in tech/hc due to acquisitions of boutiques
Recruited for the tech group in ny last year and heard that a lot of analysts leave for jefferies tech group after a year.
Cleveland or NY?
i said ny
Knew a number of Keybanc interns who then traded up to more established banks after their SA stints.
Most of their SA are in Cleveland, and they recruit a lot in the Midwest for Ohio State, Indiana, Case, Miami (OH), etc. If you're looking at NYC or another location the recruiting is less structured and very group dependent.
I can tell you what leveraged finance deals they led and or participated in
Interned there last summer under their IB group. I would say that culture truly depends on the location, but met guys from multiple offices and they are all generally pretty chill/laidback. M&A team in their Cleveland office pretty busy with a lot of deal flow. West coast their tech/health/research guys are super cool and consistent with providing work. New York office everyone is pretty nice and they keep them busy. Houston office chill guys but not too much deal flow mainly because of oil and gas focus + lack of presence. That’s about all I heard / vibes I got when I got feedback from interns and their junior analysts. They’re just not the type to ultra grill you and expect you to know everything type of bank. Some groups in IB are even “up and coming” if you look at their last quarterly report. Just be careful though and be sure they’re recruiting for full time for whichever group you’re interested in. Not too bad of a place to start despite being a boutique. Good luck!
Not to nitpick here but they are by definition not a boutique as they have a commercial banking practice and a balance sheet. Anyways I echo most of this - talked with a few guys there when I was recruiting full time, their Pacific Crest (Tech) and HC groups are strongest and everyone seemed pretty chill. They also have offices in NY and Boston, from what I was told the Boston real estate practice is fairly strong (again relative to the rest of the bank and other low/ mid-tier MM) . Like others have said, good spot to start off and lateral out if you have limited options otherwise.
If you’re looking at KeyCorp as a whole then yes they’re more of a large US regional bank, similar to SunTrust/BB&T, PNC, etc. I was focusing more along the lines of KeyBanc Capital Markets solely, which is only corporate and investment banking products and services. KeyCorp entirely includes that plus commercial banking and other MO/BO divisions/roles.
(Some people there get upset if you confuse KeyCorp/KeyBank with KeyBanc Capital Markets (KBCM). It’s like saying Bank of America vs BAML etc)
Go to a general non-target that is a target for this bank (at least 4 SA's every cycle) and from current and previous persons have have told me, life is good with the firm. People are given lots of responsibility, upwards mobility, good pay, and good culture. I know of 2 guys who could have gone to "better" firms after re-recruiting and stayed because "they treat me well". As long as the boys are happy and work is good, KeyBanc has a good rep for me.
Decent US regional bank. Very comparable to US Bank, Truist, BBVA, PNC, Regions
Not even close, Keybanc blows all of those banks out of the water when it comes to IB.
Strong Industrials group since they are based in the midwest. I believe it is their best group as well.
solid tech office out in seattle. cain brothers for healthcare (NY, SF) is one of the most active banks in the MM space doing 16 deals in 2018 (3rd in MM), although know Cain has a completely separate recruiting process from Keybanc CM which does well in industrials (CLE, NY offices primarily). Very small chicago office. Recruit an obscene number of kids from ohio state. Better hours than most other banks although slightly less pay (CLE dirt cheap COL more than makes up for this, but you do have to live in cleveland lol)
Thanks for all the comments everyone! Your insights are much appreciated.
Recruited FT in the Tech NY office earlier in the year, super chill guys, didn't even get a technical question in the Superday. No face-time culture, kind of a small/boring office, but again really chill guys and the LMM tech practice (IT Infrastructure & Software) seems to be improving in NY.
Does anyone have insights in regard to insights on the interview process? (How were first rounds, superday, etc) I'm currently recruiting for 2021 SA
2 phone screenings -> superday
Did you go through the recruiting process? If so, what were the interviews like? A few of my friends say that it was definitely on the less technical side and more on fit
.
It's HQ is in cleveland so I assume bigger office and all that
NY is smaller but some groups work synonymously with Cleveland groups. Cleveland is hq and has the most opportunity.
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