SMBC Investment Banking
Can anyone share details about how the Investment Bank is at SMBC for NY. What group is the best? Any chance of lateraling to a reputable MM or BB? Is the pay street level?Thanks
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Levfin. Base salary is 100k.
SMBC investment banking is not investment banking ~ its actually corporate banking. Their best groups are LevFin.
Plain stupid comment
pipe down intern
KPMG does corporate finance advisory (LMM m&a), does that make it an investment bank or an investment banking team?
SMBC does have an IB team, however, their CIBC groups are primarily corporates.
SMBC top 3 in project finance lending, sovereign advisory but for MENA, I'm really not sure about IB
I think this is covered in some other posts on the platform but I will update in lieu of somewhat recent events (i.e. Jefferies). This will be fairly long so I'll put a TL;DR at the bottom.
Currently all of the "CIBC" platform operates under the corporate banking umbrella. There are coverage bankers (marketing) and credit analysts (LMG), but both are ultimately CB jobs. Pre-Jefferies partnership, this was less of the case because there were a few MDs with IB backgrounds who operated within those parameters which equated to billions of pitches but you got modeling / valuation experience as a coverage banker. Those MDs are long gone, and the remaining ones are all CB.
There is still apparently a M&A team but most of the "good" MDs were either poached or left, leaving a small team that focuses only on MM Japanese cross-border transactions.
ECM no longer exists.
DCM remains the best group in the bank (aside from PF) in terms of IB related work, however there is an ongoing push into the Non-IG space so LevFin could be on the rise.
Exits are actually better than you would expect - a lot of boutique IB shops and other B/S banks, but I've heard of some great exits like Lazard, Ardea, and more along that spectrum. Seemingly very analyst dependent, and if you grind enough then you should be fine.
General culture is CB reflective; lower than street pay for lower than street hours.
TL;DR: CIBC no longer does IB, if you join SMBC do M&A / DCM / LevFin and you'll get looks from better banks after a year.
Source: My best friend works there / trust me bro
Do you think the SMBC/Jeff alliance will help expand the Investment Bank? SMBC’s website says “announced today that they have expanded their strategic alliance to collaborate on future corporate and investment banking business opportunities”
From what I’ve heard, the impact is pretty segregated. What I mean by that is Jefferies will take over on the M&A and ECM front, and SMBC will take over on the DCM front. I’d bet that there will be some type of collaboration between the two entities on a client by client basis, but not in the way that you’re probably thinking - I doubt Jefferies would pull in some SMBC bankers for help on a sell-side mandate.
Really cool to hear, I was wondering if you could elaborate on the push into non-IG? How is that split between loans and corporates, and does levfin cover both?
How likely is it to exit to PC from SMBC since it's more of a corporate bank with credit analysts?
Why do you say ECM no longer exists? They’ve issued equity for us within the past 6 months lol
As I understand it their classic ecm and equity research teams got axed following the investment in Jefferies. They still publish research and have ecm capabilities but definitely a lot more limited now as much of it flows through Jeff
Hi Current Coverage analyst here. Happy to answer any specific questions via PM. With that being said, the most detailed comment here is fairly accurate. Happy to expand on anything. Culture here is very solid, one thing I would def. want to highlight. But as some other folks have mentioned there are some trade offs ~ happy to chat though separately.
lev fin is prob the best at smbc
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