banc of america
so what are everyones thoughts on bofa?whats good and bad?as a bank?as far as working for them goes?
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Bofa is very good on the trading side. They've built it using their huge balance sheet + experienced traders from other more traditional firms, gs, leh, bear etc. They can take a lot more risk with that bal sheet and are growing it pretty fast.
Their ibanking is a bit weaker and are prob more like top 10 (maybe) in terms of league tables. They also have a lot of ex-bankers from brand name places, but their deal flow isn't great.
Interviewed with them, wasn't too impressed. They do a LOT on the debt side but are very light on M&A and other advisory work. They were late to my interview and frankly seemed pretty desperate. Also, they hire away a lot of very good senior bankers from other firms, but these bankers tend to leave as soon as their contract ends.
I would take Jefferies or another quality MM over B of A. Definitely not a group that I would want to work with...
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