UK Corporate Broking. Any insight?
Hi guys,
Any insight about corporate broking divisions in IB? Hours, Comps, daily Job (Modeling skills needed), Exits etc.?
Hi guys,
Any insight about corporate broking divisions in IB? Hours, Comps, daily Job (Modeling skills needed), Exits etc.?
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Most banks in the City have corporate broking within their UK Coverage team and often analysts move around and do both UK Coverage and corporate broking.
Hours are slightly better than Coverage if you do corporate borking, maybe 9:30 - 10.
Comp is very similar to others in IB, at least at the junior level.
The daily job isn't as technical as normal IB and I would expect the exits to be not as good as Coverage. However, I'd probably take Corporate Broking at MS than IBD at UBS for example. People move around a lot at the junior level.
And what about the role of a corporate broker? (I don't live in the UK and few info on the internet tbh so not very familiar with it) From what I have understood, it seems to be a division that keeps daily relationship with clients but without pitching for operations (m&a, ipo etc.)
Yes, as you said their role is to take care of the daily relationship with UK clients, providing them with general financial advice, industry updates, the market, their stock etc. Often banks secure M&A/GCM mandates because of their corporate broking relationships with clients
UBS IBD in UK isn't bad tbh, but other than that I'd agree haha
Agreed. I'd say MS, DB, Barclays, UBS have decent corporate broking teams.
Agreed, but I'd still probably take Corporate Broking at a top BB than IBD at a mid/low tier BB. I was just trying to show that Corporate Broking is well respected in the UK.
some banks split out the team and it is kind of a UK regulatory / ECM type team. Little ops. Some teams integrated with finance so juniors get good modelling as well. Ours splits out and they have a great life, not so great skills. Don't think that is universal, I think some are as technical as a lot of industry teams
May I ask which bank?
Corporate brokers will typically get in before the market opens (ie. 8am). From what I can see they tend to leave from 7-10pm on a normal day. There are outliers of course.
They hardly work weekends.
Pay is similar to IBD at the junior level.
Exit ops very limited when compared with IBD.
Very British teams usually
https://www.euromoney.com/article/b1c9j37z7htz1c/can-corporate-broking-…
Haha thank you, but since I had time to intern in a corporate broking team and extend an offer for a coverage group. But happy to give you my insight if you want !
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