Should RBC spin off their IB division as a non-publicly traded EB?
Much like how PJT spun out of BX, I think RBC IBD can spin out of RBC the commercial/retail bank in a play that would be both accretive to public shareholders and greatly increase the compensation and prestige of the employees in IBD.
RBC's IBD department is not seen as an equal to the top EBs (CVP/PJT/LAZ) because of their association with the commercial and retail bank which dilutes their true prestige. Much like how Greenhill nowadays has their prestige diluted by Mizuho, a far inferior IB that Greenhill is under the umbrella of. Or how Merrill Lynch had its brand diluted by the commercial/retail bank BofA once it was acquired.
Additionally, spinning off RBC IBD as a private company would allow them to grow more aggressively and pump out higher bonuses and perks without diluting the bonus pool to shareholders (Blades to the Hamptons year-long, not just between Memorial Day and Labour Day as well as higher dinner and lunch stipends instead of just $50 and $60 as well as better Uber Black offerings).
I think once unburdened of the non-prestigious name of the commercial/retail stigma that RBC holds as well as it's non-prestigious Canadian roots, the RBC IBD spinoff will rise to the upper echelon of league tables in terms of fees, likely somewhere above EVR but below GS/JPM.
If anybody here is an analyst at places like Icahn/Elliott/Pershing, please pitch this as an activist play that would generate significant shareholder returns, as the RBC IBD spinoff could potentially be sold to a strategic buyer, likely an EB of equal prestige (CVP/PJT/Q), resulting in tremendous ROIC for shareholders for relatively little work. I would be more than happy to personally help you out with your DD and pitch in my spare time - just shoot me a PM.
Holy shit do you not have anything better to do with your time
This is fucking sad. We are supposed to be working 80+ hours a week and in our limited free time we make bullshit up like this. Get a life or some sleep bro lol.
He’s got like 4-5 different accounts. Dude is unemployed af.
They shitting on that Rbc/cvp kid for making accounts but this shit is next level no life.
Speak for yourself buddy boyo I'm not an ASO1 at some MM bucket shop in Chicago acquiring businesses with $50MM in EBITDA 90 hours a week
Wouldn’t this be true for every single bank that has retail and commercial activities?
This is dumb.
A rare L from NoCaliberTalent. RBC would lose its status as an EBB (Elite Bulge Bracket) and simply be an EB without RBC’s massive balance sheet. Gonna be a no from me
EBB is gold
Thanks, but it's EBBB (elite bulge bracket boutique)
Buddy, this wasn't a post from NoCaliberTalent. I don't catch L's such as the BS I read above. Glad to see the EBBB (elite bulge bracket boutique) catching on though
This is inspirational, thanks for the insights
This makes no sense. A big reason RBC manages to source deals in its leading sectors like PUI is its ability to underwrite
No balance sheet = no underwriting
Canadian banks are lmm bro stfu. You’re obsessed with RBC it’s not even funny it’s sad go get a job seriously and get laid.
I really hope RBC hires you.
I have a feeling each of your alt accounts represent a certain drug you’re on.
Not judging, I’m here for the elite bulge bracket boutique alpha (EBBBA)
Thanks, glad to see someone likes my more unhinged content
the Oracle of RBC spoke 🙌 inshallah
Sadly it’s a balance sheet bank so the spun-out entity will likely lose some deal flow. Unless they hire some WowCaliberTalent.
If there’s any indicator that RBC bankers aren’t getting staffed enough - it’s this dumbo who’s the ambassador of being jobless
In all likeliness he works for TD or BMO
I think he works for BMO
Pitching it as a growth equity op to IC as we speak
Congrats on RBC
Right, please explain to the C-suite at RBC that they should completely get rid of their ability to underwrite (which accounts for basically the majority of their fees) just so freshmen in college think of them as a more "prestigious" place to work. lmaoooo
I think you’re underestimating the amount of business they get because of their balance sheet and/or balance sheet relationships. Cute idea tho brother
I think you’re underestimating the amount of business they get because of their balance sheet and/or balance sheet relationships. Cute idea tho brother
I think you’re underestimating the amount of business they get because of their balance sheet and/or balance sheet relationships. Cute idea tho brother
I think you’re underestimating the amount of business they get because of their balance sheet and/or balance sheet relationships. Cute idea tho brother
I think you’re underestimating the amount of business they get because of their balance sheet and/or balance sheet relationships. Cute idea tho brother
I think you’re underestimating the amount of business they get because of their balance sheet and/or balance sheet relationships. Cute idea tho brother
Asperiores omnis velit et enim tempora ad. Veniam quia placeat tempora hic veniam quam nisi.
Dolore delectus tenetur suscipit doloremque. Distinctio qui error est magnam.
Nemo non sit quibusdam reprehenderit fuga sint. Architecto quia esse reiciendis deleniti voluptatem rerum. Quibusdam sit sunt animi est dolorem.
Voluptatem quam similique itaque nemo minima. Sunt sed pariatur numquam corrupti autem explicabo. Unde quisquam quod esse. Voluptates veritatis neque consequatur ullam ea.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Et id qui qui occaecati. Voluptatum sequi ipsam ut sed tenetur repudiandae vitae. Autem reprehenderit ex adipisci in in hic assumenda. Deserunt corporis eum at ipsam. Voluptatum iure vel in explicabo omnis placeat culpa.
At ut eos voluptatibus hic reprehenderit neque vel. Similique ab quae incidunt libero doloremque inventore. Recusandae repellat reprehenderit velit soluta ex similique.
Occaecati cum id dolores quae voluptatem quia inventore. Dolores laborum illo rerum eum. Impedit quia quae doloremque sequi dolorum labore odio.
Et eum earum voluptatem ad iusto beatae maxime. Ut dolor occaecati vel.