What banks are stepping up their game and positioning themselves well for the next few years?
See a lot on this forum about X group or Y bank falling off and not doing as well now as they used to. Don't see a ton about which banks are stepping up or expanding their share of deal flow and gaining ground on competition (exceptions might be Leerink and Jefferies). Would be curious to hear thoughts on this.
Guggenheim. Work at another EB and wouldn’t say they have a strong presence/rep today but they’re spending a lot of money to attract some solid senior talent and growing out a lot of verticals they previously didn’t have much of a presence in.
Idk why this is getting MS. In addition to the above, Schwartz is their Chairman and originally said he was excited by the opportunity to build new. They’ve poached a ton of good senior bankers in the past years and have expanded headcount at the junior levels too
How’s PWP doing in this regard?
Amazing
WF heavily investing with their new CEO. Ex JPM. always had the balance sheet and top 5 ranking for IG/HY debt but slowly creeping up in M&A and ECM.
https://www.bloomberg.com/news/articles/2021-01-04/wells-fargo-to-expan…
Let’s not forget JD said this just before the asset cap lol
[Micklethwait]: Which American bank are you watching closely at the moment?
jamie: I learn from all our major competitors, whether they’re in or out of the U.S. Wells Fargo is very actively, very aggressively, and very successfully building its U.S. investment bank. Their big issue will be if they want to deal with the biggest companies, which are doing a lot of business overseas. How they do that is a big question. It’s almost impossible to build a global investment bank from scratch. If they want to do that, they probably will have to do an acquisition.
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