Top groups at BOFA London
My question is which are the top groups at Bank of America in London, and if you had the chance to choose which one would you take
My question is which are the top groups at Bank of America in London, and if you had the chance to choose which one would you take
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O&G, M&A & Heathcare
M&A at BofAML is just a process support team. If you want to do a lot of admin work, choose them.
Inaccurate
LevFin too
Just left, so have quite good knowledge. Generally, there is not one group such as Sponsors at CS or PUI at Barclays (in NY) that will be significantly better than the overall bank reputation. Nonetheless, there are a few teams that are better than others.
HC is a bit of a mixed bag. They are quite small in comparison to other banks (notably JPM). While they have very strong relationships with some corporates like Novartis, their volume mainly comes from mega deals (often in the Germanic region) and less continuous deal flow. Might be poised for strong growth though as they are working on a lot of Biotech IPOs atm. Probably best culture of any team at the bank. Team head is the loveliest woman in banking.
C&R actually has a strong franchise globally but team has a very intense and formatting-heavy work culture, while being more fun outside of work. But has had some good exits in the past.
Totally forgot Sponsors. BAML obviously has very strong sponsor deal flow and the amount of execution being done by the team is getting higher. Nonetheless, not on the same level as in NY as a lot of time is spent on non-deal related administrative work. The team is also one of if not the smallest team at the firm.
Agree with this. Industrials and UK had some pretty heroic exits recently
Do you know where to exactly?
For incoming SAs that will be working remotely, how do you recommend getting to know the groups and asking for more work from the UK team, for example?
according to this comment BAML is the best bank on the street
Top 4-5 would be more realistic in EMEA
It certainly isn't (probably one of the better ones in the bracket after GS/MS/JPM).
My main point was that the firm is pretty consistent across its industry groups with most being in line with its overall M&A standing (4th-ish in EMEA), therefore not having one standout industry coverage team but all being pretty good. Therefore, M&A is a solid bet since deal flow will always be good.
In light of some recent exits (Warburg and Centerbridge), FIG might deserve a bump from the time of the initial comment though and could be perceived as the standout industry coverage team.
could you tell us a bit more about the loveliest woman? am interested
Hijacking this, does anyone know if BAML London is going to do group placements for our summer internship? Seems like US has done that but we have not received anything about it
BofA London internship is generalist, so no placement will happen. You’ll get exposure to the teams of the deals/pitches your staffer puts you on
If I am not wrong SAs get placed in 3 different teams and they get get exposure to whatever the staffer wants inside those 3 groups, so there is a group placement
I believe BAML advised literally all of 2019’s largest UK PE deals with the exception of one or two, so LevFin is probably a good bet.
And surely Financial Sponsors too?
Edit
firstly solid post and from people I know who also work there, this seems to be general consensus.
Could you explain your point on headcount btw; i didn't really understand what you meant by lower headcount compared to US peers - do you mean lower than teams in BAML US office or other US banks in london?
Us banks in london - not the guy above but this is what I’ve also heard
Very insightful and sounds similar to what I have heard from people who have interned at BAML before!
Interesting to hear how the work on an M&A deal can be split between teams, but I am curious to know how it is split when say, there is an M&A deal for a UK company? What role does the UK team play in this?
Edit
As an incoming summer intern at BofA London, this is super helpful. Thank you.
I have a couple of teams in mind that I think I would like to work with. Obviously, I'm keeping a pretty open mind going into this, but how do recommend I position myself to do more work for X team? Also, is headcount by team known already? That would be useful to know when scouting out teams.
Many thanks.
Edit
Can you also please talk about REGL, NatRes and other groups not mentioned?
Edit
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