What is Deutsche Bank doing in the Americas?

DB currently ranks #35 in NA, with only 4.7 billions of M&A completed in 2026 while other BBs like Citi & Barclays completed 182 billions and 48 billions of M&A. DB's IBD first-year analyst class is similar to Citi's, which is around 70-80. What are people at DB working on everyday?

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Have they really done almost nothing in M&A? I feel like previous years even if they haven’t been the best they’ve at least been higher than 35th

 

Tell me one thing DB does better than BNP, specifically in IB in NY

Globally, I'll agree DB is stronger. But in the US I think BNP is a stronger Euro based Investment Bank.

 
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Bro BNP NY is just a satellite office supporting Euro offices and leads almost nothing. It's a debt shop like DB but check how many lev loans or HY bonds deals they led in the last 3 years. Also check how many M&A deals they were involved in. Heck they are not even in SpaceX IPO lol. DB at least does okay in Regal/Levfin/Sponsors/Industrials spaces and significantly better than BNP's.

 

Judging by your comment history, you're probably a summer associate trying to feel better about landing BNP. Sure, BNP might have an edge in project finance-related work, but for pretty much everything else, including LevFin, Industrials, and Financial Sponsors, DB is significantly stronger. BNP has little to no meaningful exit opportunities unless you're specifically targeting project finance or infrastructure. Their LevFin platform is also relatively weak.

 

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