BOA/ML IR Swaps Group
Does anyone know if this is a good/strong desk?
Thanks!
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Yeah, any large BB is a good place to start in IR because of the diversity of clients you get.
A quick Bloomberg scan will tell you BOA-ML is top 5 in a lot of these products.
However, I'm not sure if I would recommend BOA-ML over another BB, simply because different banks give their analysts different levels of responsibility.
Do you say that from experience or speculation?
Speculation?
I looked it up on my Bloomberg terminal as stated. I worked at a BB bank, they all have relationships with each other. BOA had a much lower risk appetite than ML, but the ML people took over.
Further, when I'm the only person paying attention to your question don't sound like a dick.
as has been stated on this board many times, BOA has a solid swaps desk and rates business in general. not sure how true it is that ML runs that business though...
fairly certain that rates trading is a big business for any large commercial bank, thus citi/jpm/boa should all have strong swaps desks, along with bnp/socgen/db/etc.
uh soc gen & bnp shouldnt be mentioned in the same sentence at db rates. bnp is much stronger in usd swaps than soc gen but they are still a 2nd tier player in the us. the top player in USD rates including swaps is JPM, followed by any mix of DB, Barclays, GS. BOA/ML would probably round out the top 5 fighting against CS/RBS though I think RBS has fallen off a bit with all that has happened. citi and ubs had solid businesses that have fallen a bit as CIti's head of rates (former head of rates at Lehman) is now at Nomura. these ratings are my opinion but to be honest you'd be fine on any large swaps desk
for sales it's probably top 5. for vanilla swaps trading, it's #1 or #2 but you won't get on the desk. options trading is top 5 ish too.
which function are you interested in?
I know they don't take anyone straight on the swaps desk. Will be doing hedge fund sales, but was interested in the trading side.
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