S&T ranking

Hi,

A few times I saw a ranking of banks based on their IBD. Goes like:

- GS

- JPM/MS

- CS/BAML/Citi

- UBS/DB/BarCap

....

- BNP/Macquire/Nomura/....

Does the same hold for the S&T division or there are some non-BBs that are comparable to BBs? 

Thanks!

8 Comments
 
Most Helpful

It's very hard to rank banks broadly for S&T because there are so many desks. Some banks are great at FICC (Fixed income currencies and commodities) but not so much at equities. Others could be the other way around. It would also be unfair to rank banks based on gross revenue on S&T because some (Citi JPM BAML) are able to leverage their balance sheet where others cannot (GS MS for example). 

To take it a step further, some banks may be #1 in IG credit trading but #3 in high yield, whereas a competitor could be #2 and #2 respectively. 

If I had to thumb in the air bucket banks it would be as follows:
FICC Great:
JPM/C/BAML

Good:
GS/MS

Okay:
UBS/HCBC/Barcs

Equities Great:
GS/MS/JPM

Good:
BAML/Barcs

Okay:
C/HSBC/Ubs

***These are strictly estimates as to where I think these various banks rank on the lists currently. I could be completely off base (very hard to tell because there are so many desks within each division)***

 

Spent some time interning on an equity derivatives desk with one of the “Equities Great” firms and the general sentiments I picked up there seemed to confirm a lot of these ‘rankings.’ With admittedly minimal background, I would second this.

Interested in code, market mechanics, and trading strategies!
 

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