From efinancialcareers.co.uk http://news.eFinancialCareers.co.uk/newsandviews_…
This is where you should be working, bank by bank, market by market 4 April 2011 Sarah Butcher
If you aspire to work for a bank that’s the global market leader in your product area, but for some reason are ignorant as to which bank that is, we have the answers.
Derived from figures from analysts at JPMorgan, who last week released a detailed analysis of each banks’ revenues, by product, for 2010 - plus projections for 2011 and 2012, here are the expected market leaders for 2011(excluding JPMorgan), plus their predicted direction of travel.
Advisory, predicted market shares 2011
Goldman Sachs: 28.6% (increasing) Morgan Stanley: 19.3% (decreasing, slightly) BarCap: 15.4% (decreasing) Credit Suisse: 14.0% (decreasing) UBS: 10.2% (erratic) Deutsche: 9.4% (decreasing) BNP Paribas: 2.2% (increasing very slowly) SocGen: 0.9% (increasing very slowly)
Equity underwriting, predicted markets shares 2011
Goldman Sachs: 21.2% (erratic) Morgan Stanley: 20.5% (decreasing) UBS: 18% (increasing) Deutsche: 12.6% (decreasing) Credit Suisse: 12.4% (decreasing) BarCap: 12.5% (decreasing) BNP Paribas: 1.6% (increasing very slowly) SocGen: 1.2% (erratic)
Debt underwriting, predicted markets shares 2011
Credit Suisse: 22.2% (stable) Goldman Sachs: 13.9% (increasing) BarCap: 13.1% (increasing) Morgan Stanley: 15.5% (increasing) BNP: 7.5% (erratic) UBS: 7.8% (erratic) SocGen: 3.6% (stable)
Fixed income, structured products group, predicted markets shares 2011
Credit Suisse: 35.4% (increasing) Goldman Sachs: 14.5% (increasing) BarCap: 11.7% (stable) UBS: 6.6% (increasing) BNP Paribas: 6.4% (decreasing) Morgan Stanley: 3.7% (erratic) SocGen: 2.2% (stable)
Credit trading, predicted markets shares 2011
Goldman Sachs: 29.4% (decreasing) Deutsche: 23.5% (decreasing) UBS: 18.8% (increasing) BarCap: 12.0% (increasing) Credit Suisse: 9.1% (decreasing) Morgan Stanley: 2.7% (decreasing) BNP: 2.3% (static) SocGen: 1.3% (increasing)
FX, predicted markets shares 2011
Deutsche: 27.3% (falling) Goldman Sachs: 16.2% (increasing) UBS: 13.4% (increasing) BNP: 11.8% (stable) BarCap: 8.1% (increasing) Morgan Stanley: 9.7% (increasing) SocGen: 6.9% (stable) Credit Suisse: 6.6% (decreasing)
Rates, predicted markets shares 2011
Goldman Sachs: 21.6% (falling) BarCap: 20.9% (increasing) Deutsche: 14.8% (falling) BNP: 12.1% (falling) Credit Suisse: 10.2% (falling/stable) Morgan Stanley: 9.1% (erratic) SocGen: 5.4% (erratic) UBS: 4.2% (increasing)
GEM, predicted markets shares 2011
Barclays: 32.3% (erratic) Deutsche: 22.4% (falling) Credit Suisse: 15.0% (stable) UBS: 9.1% (increasing) Goldman Sachs: 8.4% (stable) Morgan Stanley: 5.3% (stable) BNP: 5.1% (erratic) SocGen: 2.3% (stable)
Commodities, predicted markets shares 2011
Goldman Sachs: 44.5% (decreasing) Morgan Stanley: 26.1% (stable) BarCap: 10.2% (stable) Deutsche: 10.3% (stable) Credit Suisse: 2.8% (stable) BNP Paribas: 2.6% (increasing) UBS: 2.1% (increasing) SocGen: 1.3% (increasing)
Equity derivatives, predicted markets shares 2011
Goldman Sachs: 20.5% (stable) SocGen: 17.8% (stable) BNP Paribas: 14.5% (increasing, slowly) Credit Suisse: 11.7% (decreasing) UBS: 10.2% (increasing, slowly) Deutsche: 9.0% (stable) BarCap: 8.2% (falling, slowly) Morgan Stanley: 8.1% (stable)
Cash equities, predicted markets shares 2011
Goldman Sachs: 31% (falling) Credit Suisse: 23.8% (stable) UBS: 17.2% (increasing) Morgan Stanley: 11.0% (increasing) Deutsche: 10.5% (falling) BarCap: 3.9% (increasing/stable) SocGen: 1.9% (stable) BNP Paribas: 0.7% (stable)
Prime broking, predicted markets shares 2011
Morgan Stanley: 21.6% (increasing) Goldman Sachs: 20.7% (decreasing) Credit Suisse: 18.5% (decreasing) UBS: 14.0% (decreasing) BarCap: 12.3% (increasing) Deutsche: 10.9% (decreasing) BNP Paribas: 2.0% (stable)
Health warning: Market share figures are relative to other banks listed. They don't include JPMorgan. Nor do they include BAML, RBS or Nomura. Credit portfolios for French banks include financing activities and aren't exactly the same as credit trading at US banks... The figures do, however, give a rough idea of where each bank listed stands relative to the others...
Comments (11) View all comments Related content This hedge fund currently has over 30 jobs going in London Secretive and stealthy redundancies have already started Bank by bank hiring predictions for 201
Woah, very comprehensive, good find and thanks for sharing. This is better than all that arbitrary ranking bullshit that goes on.
Yet more fuel for the goldman jerk off session.
Go, go French Banks!!!
I thought it was interesting BUT i figured it would ..... A. encourage the troll rank rants B. fuel more hatred on group ranking topics.
dont be fooled by the "comprehensiveness of it - read the small print!! :p
It also doesn't include Citi. Basically, as far as I can guess, it just includes the banks that particular analyst covers
Interesting I guess... but kind of worthless in that it doesn't include 3-4 of the larger banks
As far as M&A advisory goes, I think a more interesting measure would be advisory fees per analyst. It's no surprise that the bigger banks dominate the field in terms of absolute market share, but it's possible that analysts at elite boutiques are getting deal experience equal to or better than the average bulge bracket analyst. It's really a matter of many deals and many analysts vs. fewer (yet quite large) deals and fewer analysts. Of course, I realize it's probably quite difficult to get such a measure, but I do think it would be insightful for people figuring out where they want to work.
Interesting list, though.
I agree, without Citi, JPMorgan, and BAML the list has an inaccurate skew towards Goldman in several product groups.
Is GEM global emerging markets?
Silly and misleading list as others have already mentioned.
where's JPM, wtf.
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