So I have a list of 200 banks or so that I am going through. How can I tell if these banks are legitimate. I am visiting each of their websites 1 by 1, so far I have maybe only 9 or so companies that I marked as potential work places from what I read of their services and of their senior members.
fyi..I eliminate pure valuation/ m&a/ pwm/ restructuring...
Obviously their are the top 50 banks or so that every one knows. But is there a way to tell if a bank is reputable by any other means?
I heard one thing you can do is see if the bank has a broker dealer license?? please correct me if I'm wrong, I may or may not be talking out of my ass
(and how can I check if they do have a broker dealer license? ask them over the phone or in an interview?)
This list of 200 would be gold if I was trying to break into banking, but what I am trying to do now is move up from where I already SAed.. which i hear is just a bit reputable
I would look at the team profile and see where the bankers have had previous experience.
bumpp Thanks, I have been doing that but some banks have people new to banking without previous experience. Any other way? broker dealer license?
Being registered as a broker dealer is in no way going to determine the quality of a firm. Being a broker dealer basically just means that a firm effects securities transactions for itself or its clients, and isn't a bank, savings institution, or trust (among other limiting criteria). Just because an institution has this registration, doesn't mean in any way that it is a reputable shop... the registration process doesn't reflect the quality of their business, but rather is a way for FINRA to provide oversight over their business from a regulatory standpoint, and more importantly for FINRA to make some money dollars for the privilege of registration (gotta pay a fee).
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