Strongest Groups within S&T at BBs

I was digging through looking for any recent data or threads on the strongest divisions at each BB and couldn't find anything, so figured I'd start a new thread.
What are some of the stronger/weaker divisions within S&T at the BBs (GS, JPM, Citi, MS, DB, CS, Barclays) as well as within smaller firms like Jefferies?

Any information focusing on strengths/weakness within any bank or comparisons/rankings between banks is helpful

Comments (31)

  • Analyst 1 in S&T - Equities
Apr 27, 2020 - 7:17pm

bump...interested in CS

Most Helpful
Apr 28, 2020 - 7:12pm
big dawg 5, what's your opinion? Comment below:

@koalamacro had an in-depth take for the American BB's:

JPM is probably most well rounded in everything. For the most part, it's just American banks at the top of everything now. Below is just more or less who sticks out, but the top 5 in every area will basically be all American banks.

Equities will be GS, MS, and JPM. Large part of it being their strong investment banking divisions / prime brokerage / private wealth. It's all crucial to having a strong equities S&T division.

Securitized Products / Credit will be Citi, BAML, JPM. Strong consumer banks / mortgage underwriting will play a big factor in this as well. Munis are more or less the above because of similar reasons, aka strong public finance relationships.

Commodities is really just JPM and Citi now with full service divisions. GS is only relevant in certain commodity markets (have exited a bunch of different markets. Certain Canadian banks are ok too in (ex. TD) because of their strength of balance sheet / funding but it's also in certain markets.

Rates / FX will be Citi and JPM. Rates at Citi is probably one of most well known on the street like how GS/MS are with equities. Citi traditionally has been very strong in FX, partly due the legacy international presence all over the world in local markets. Formerly DB was very good too, but clearly they are gone.

You'll see that the overall strengths of the bank is closely related to which S&T desks see more flow. As another example, UBS / CS traditionally see a lot of private wealth flow, so they are known on the street as vol sellers / supplies. As a whole, European banks are mixed in somewhere below the American banks in every area now.

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  • Intern in S&T - FI
Apr 29, 2020 - 1:31am

Have the division rankings amongst the banks stayed relatively consistent throughout the years? Just wondering because I was on a networking call with an S&T analyst at MS and she said they were #1 in their equities division, but I found that to be such a subjective statement. I wondered if it fluctuated based on other factors.

May 2, 2020 - 11:07pm
ChuckRhodes, what's your opinion? Comment below:

What about Barclays? Specifically their credit desks?

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  • 1
  • Intern in IB-M&A
May 4, 2020 - 1:30am

Not BB but Commodities and Credit Markets at Macquarie are very good places to be at right now

  • Intern in S&T - FI
May 9, 2020 - 10:19pm

S&T League Tables: https://www.globalcapital.com/data/all-league-tables

  • Intern in S&T - FI
May 10, 2020 - 3:42pm

Not sure why I got hit with MS.... it literally shows various trading products and their top 5 bank rankings for each one based on $bn/# of issues + it's actively updated based on dealogic lol

May 15, 2020 - 9:39pm
ironnchef, what's your opinion? Comment below:

strongest S&T at CS is mortgages...rates not so much

MS and GS are always very strong in rates prop trading

JPM and Citi have the most balance sheet available

May 17, 2020 - 12:22pm
powerforward1, what's your opinion? Comment below:

CS credit trading has been very impressive lately, but yeah they are top tier in CMBS. ( They use to have a lot more RMBS stuff)

Array
May 17, 2020 - 6:45am
bobl eonia, what's your opinion? Comment below:

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