Does anyone know how the different prop desks rank among the banks? (which one have a strong reputation, etc.) (It's well now that Goldman Principal Strategies is most renowned)
More specifically, does anyone know anything about the rep of these desks:
MS Event Driven Credit Suisse Global Arbitrage Trading Citigroup Quant Trading UBS prop desks DB/Barclays prop desks
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All these desks will no longer exist with-in the month.
What I'm seeing in the news is:
The prop desk will hopefully be bought out by the big Prop Shops, making them elite, legitimately profitable Mega-companies, probably pushing them past HFs in the realm of Financial prestige.Though there is a good chance the UBS/Cs/DB/Barcap desks will go back over seas, if you're okay with not living in America.
However, I do see certain banks F***ing the American people and their investors (like GS) and relinquishing their Commercial entities to smaller banks; becoming entirely lean, profit driven, investment Banks. GS will be able to do this easier than anyone else, and they stand to be the most profitable company in the world if they take all the talent from MS and JPM and Citi.
The more I read about this bill the more opportunities I see for Wall St to take it to the next level, pending either a Pay Cap or Earnings Cap.
The idea of prop shops buying up former prop desks is interesting. I'm not really sure how that would work though. It seems that there would be a serious culture shock between people who've been at a BB for the last 10 years and prop shop traders.
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