RBC IBD - What is it and where is this group headed?
I've seen a lot of debate on what RBC IBD actually is. Some say MM and others say BB. Let's even throw EB into the mix. What do you all think RBC is? Also how is the culture at RBC? What do you all think is the future of RBC IBD? (Last thread on this was a couple years back and I know RBC has made many changes in recent years which is why I am posting this to see how the bank is now).
I know when I think of RBC's giant balance sheet, 'EB' is the first thing that comes to mind.
Definitely not an EB, wouldn’t consider them a BB yet. Although they are performing very well this year in the US M&A Market, they advised the Raytheon/United Tech deal and the Suntrust/BB&T. My cousin works for them and said it has a great culture and pays on par with the street. Right now I’d say they are above UBS/Deutsche, but below CS/Barclays.
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Position was filled before it was announced open due to someone recruiting off of nonpublic info.
I don’t get what’s the debate about.
They may have done well in the US in two/three industries but outside of the US they barely do deals and when they are involved they don’t take the lead.
They barely have presence in Latam / Africa / Asia.
They try to do large cap coverage but I don’t see a lot of large cap deals. They frequently struggle to score roles on sellsides and most often don’t lead on buyside.
I’d call them a good Canadian investment bank with good culture in the US and solid coverage of the North America.
RBC is the clear #1 IB in Canada - everything else that they do flows out of that. Also a pretty solid middle-market investment bank in the UK/Europe as well, and run one of the best project finance platforms in the world.
The number of universal, full-service investment banks post-crisis is a very small number, so to dig on RBC for not being one of them is a little silly.