Heard that banks such as BAML and UBS have gotten rid of the M&A groups and moved them into the industry groups (similar structure to that of GS and the elite boutiques). Can anyone confirm which banks have implemented this new system and any reactions thus far to the switch?
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RBS is spinning off its M&A advisory group into a separate 50-man boutique investment bank.
also interested
BAML still has an M&A group and I doubt that will change in the near future. I'm pretty sure it's the same situation at UBS.
Difficult for product guys just to get moved into coverage. M&A groups usually deal in execution and less on sourcing. BAML has not gotten rid of their group. I don't think banks are moving in the direction you are talking about but I could be wrong.
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