Wanted to inquire about any insights on Scotiabank’s Houston group. Anyone know much about them in particular amongst the other Houston banks.
Currently going through the MBA summer associate recruiting process for O&G Banking and have not heard about Scotia recruiting. I know they have a power/utilities team but not sure much about the group and whether they are actively recruiting for associates.
Would love to hear insights on the group if anyone has anything to share.
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Based on the most helpful WSO content, it seems that there's a query about Scotiabank's Energy group in Houston, specifically regarding their deal flows, reputation, and exit opportunities. However, there isn't much detailed information available about this specific group.
There's also a mention of how COVID might have affected their strategies, such as plans of a shutdown or a specific reduction in their class size. But again, no specific details are provided.
In terms of the overall mood in Houston oil and gas banking, it's described as very somber, especially post-MBA. The shale industry, which drove deal flow in the US since the financial crisis, is reportedly on its back and may begin to lose relevance in the global supply stack.
As for the state of banks/boutiques across Oil and Gas/Energy in Houston, Barclays and Citi are considered some of the best for O&G, over GS/MS. EBs like Evercore are quite strong in this space, and Jefferies/TPH are very strong in MM.
I hope this gives you a bit of an overview, even if it doesn't directly answer your question about Scotiabank's Houston group. If you have more specific questions, feel free to ask!
Sources: Houston Investment Banking 2019, Houston Summer 2020 Associate Recruiting, Scotiabank Houston, Insight on Houlihan Lokey's Houston Group?
I thought Scotia doesn’t even have a MBA summer associate program
They don't have an MBA summer associate program
Despite being scotia’s best team, they literally do nothing. Their best talent left a few years ago.
A few? Scotia has not been relevant in US oil and gas since ~2018
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