RBC vs. Wells Fargo

wells fargo is an arguble bb now, so i'd go with that. good growth due to the merger, i saw them on a few league tables in 2009, they also had that oracle deal that went well.

Wells Fargo has a much stronger foothold in the US (#6 or #7 in M&A and Top 10 in all capital markets).

However --> RBC is king in Canada if you have a chance to work in the Toronto office.

Can't say I know anything about RBC, but given Wachovia hired essentially zero analysts last year there could be more opportunities to be promoted within.

Definitely Wells Fargo. Here's how I would rank the current BB's:

Bulge Brackets 1. Goldman Sachs 2. J.P Morgan 3. Morgan Stanley 4. Deutsche Bank 5. Credit Suisse 6. Citi 7. Barclays Capital 8. Bank of America 9. UBS 10. Wells Fargo/Wachovia

The league tables also show a huge jump for WF, they had a great year so far backed up with the huge balance sheet.

I chose WF over Harris Williams, but I did talk to several people about it and I think that Wachovia's reputation was always a large middle-market focused investment bank. But even Wachovia dealt with clients that were large cap.

Post merger I would say it's a top 10 bank and probably a BB (though how does one define a BB?) Wells Fargo Securities is the 2nd largest financial institution by market cap behind JP Morgan. They work with companies like Microsoft and AT&T.

So far it seems like their dedication to growing IBD is genuine as they are hiring around 100 new analysts this year.

Hopefully this helps as I've never heard of RBC and am not qualified to speak about it.

definitely go with wf. wachovia used to be basically what rbc is trying to position itself as in the us (strong full service mm bank), and wachovia's only going to get stronger with the wf merger.

Speaking of which, I have a gold vault membership and I really like how it focuses on "endless training" for Wells Fargo but do you guys know if the recruitment review is accurate? Its in the company profile and reads:

"GETTING HIRED

Get serious about banking

Selectivity at Wells "depends on what office you are applying to," but generally speaking, the firm is "very competitive." According to one Minneapolis-based source, "There were four of us picked out of an applicant pool of 800." Wells has "high standards when it comes to ethics, grades, experiences and leadership abilities," as there are "only a few spots every year for entry-level analysts." Because of this, "many good candidates are turned away," especially since the "economic down turn and cost-cutting measures" have resulted in fewer full-time hires."

Does this mean after this year's ultra big hiring with the Wachovia merger that there won't be many spots next year? I'm looking for internships and won't be graduating till later so I'm just wondering about their analyst needs in 2 years.

I am seriously thinking about going to get an MBA after 2-3 years as an analyst. Which firm would be better for that (i.e. prestige factor)? How do RBC and Wells Fargo compare in terms of compensation and bonuses for first year analysts? Which firm would look better on a resume going forward?

Crazy how much Wells has been discussed on here recently.

Ultratrader - Wachovia hired essentially 0 analysts last year, so the influx this year is to make up for that. I think its safe to assume a large class for the next few years assuming the market doesnt go to shit again.

Lunginana - Wells has decent potential for you to get bumped up to associate or 3rd year. Not sure how this plays into your decision, but consider it.