JPM Global Corporate Bank (IB & TSS joint venture)
Recently there have been a few articles floating around about the IB’s joint venture with T&SS called the Global Corporate Bank. I know a few articles mentioned that both LOBs will be investing heavily to expand it over the coming years.
I wanted to know if any of you had any insight on whether there will be any demand for analyst in this division and if so where would they be coming from (the IB’s or T&SS’s 2010 analyst program)?
Thanks!
no one on this board has incite
yea insight....
bump!
bump!!!
Have you ever made a topic not about JPM T&SS?
So I'm quite interested in this as well.
Btw, JPM GCB is a new venture only outside the US, is that right? i.e. hasn't there been a JPM GCB in the US for a while? What I understood was that the initiative was simply to expand it beyond US- starting from the team in London and now Asia.
I guess we could look/research into how "GCB analysts" are hired into the US, will probably be the same in the other locations. I would think that given the small number of analysts currently required, they would probably come from TSS (GCB is more like TSS than IBD in my opinion - but then you never know as Citi has recently merged its GCB and IBD divisions into one...).
Either way I think the current demand for entry-level analysts will probably be from analysts who are already on the TSS or CDP and get to internally move to the GCB..
Sorry to bump in. Yes, this is true. TSS and IB merged and it is not called J P Morgan CIB (Corporate and Investment Banking). The main motive is to merge the Operations depts of TSS and IB, cross train employees, cut costs, etc. It wouldn't affect the Front Offices though. Except, they might pitch Corporate Banking products to the IBD clients.
Nothing changes but a bunch of corporate reshuffling. This happens all the time. IBD will still hire people who qualify for IB. TSS will still hire people qualified for TSS. There will be no overlap in functions (i.e. you won't be doing securities lending one day and M&A the next). Compensation will still be different. IB and TSS will still hire separately.
The point might be to make cross selling easier across the two divisions and as the poster above said to combine support functions.
It changes a few things internally. Prior to moving to an M&A Boutique, I worked for TSS Operations and we used to receive semi annual bonuses and mid year promotions were common. There were many cases where people would wait till they received their mid year bonus and then quit. However, after the Merger it has all become an annual affair like IB.
I meant dollar values not frequency of payments. Twice a year sounds damn sweet though.
Not sure if it is a high dollar value if you convert Indian Rupees into Dollars. Haha
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