I realize that most of the work is run either out of Toronto or Calgary for the metals/mining sector, but do the big banks do any investment banking out of Vancouver (RBC, BMO, CIBC, Scotia etc.)? How about PE shops; any decent MM shops out there? And is comp signficantly lower at the associate level? Any input would be appreciated.
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Thinking about making a move?
Potentially; might be applying for immigration to Canada later this year and was just wondering if Vancouver had a market at all for IB or PE.
All of the big 5 Canadian banks have offices there, but they specialize mostly in international trade financings, not IB. Their IB desks are 3 maybe 4 people and are mostly for client coverage. BB banks typically have one or two MDs out there as well to cover the mining sector (which is booming in Vancouver). Hope that helps, not too sure about PE shops.
I'm quite familiar with the Vancouver market (I'm from Western Canada).
All the Big 5 + National Bank have IB offices in Vancouver. Contrary to what was quoted above, they do traditional IB (eg. equity raise, M&A, etc.), and the Big 5 do execute out of Vancouver (as do probably National Bank). Now of course, depending on the type of deal you would certainly have folks out of Toronto helping out.
Vancouver offices are quite small, so it's certainly not as easy to get in -- especially at the Associate level. You'll have to firmly state your interest in the Vancouver office when you go through recruiting, etc.
There are some MM PE shops in Vancouver, but there's a lot more in Toronto (relatively speaking), and some energy focused ones in Calgary.
^Actually I am from Vancouver and summered in the equivalent of freshman year in a big 5 office as an analyst in IBD... but you're right, I wouldn't know what I'm talking about.
^ good for you. I never said you didn't know what you're talking about, I'm merely adding my own observations and knowledge to the OP's question. Not too sure if you did your stint in Vancouver, but just adding my 2 cents..
Thanks, guys. It does sound like a much better place to live than Toronto to me, so I just thought I'd get an idea here before looking into it. Any insight on comp?
Can anyone provide some insights to how bcIMC compares with the big banks in terms of compensation and lifestyle?
Thanks
Would be interested in knowing about this as well.
They pay less to way less depending on seniority, but lifestyle is as good as it gets. They are a bit beyond the curve vs other canadian pension funds in terms of doing direct investments which gets reflected in lower comp and quality of people. They are also not in Vancouver, but in Victoria.
Did you mean "behind" the curve? I get the impression they are trying to build up their direct investments platform to Caisse or CPPIB levels.
Do you have any info on comp for juniors at bcIMC?
Big 5 + National Bank all have offices. Pretty much every shop has both a metals & mining coverage group and diversified group (forestry, consumer retail, TMT) but overall the main focus is definitely more geared towards mining given Vancouver is home to a lot of big mining & streaming companies (Goldcorp, Teck, Silver Standard, Silver Wheaton, Franco Nevada, etc.). Execution is done in-house similar to Calgary with O&G. Offices are small but not quite as small as described above (on average more like 8-15 people across all levels depending on the shop). Also, culture is definitely more laid back than the East Coast; however, as always, is highly dependent upon the office that you work in speaking from experience and based on colleagues that have worked at the different banks in Vancouver (can PM you about each shop if you're interested). Also, buyside opps exist but mostly smaller local based groups although there are still some decent places to work...CAI PE, Leith Wheeler, CC&L, PH&N are a few of the better ones that come to mind. Total comp for IB is the same as working in TO.
how would one approach analyst recruiting for small offices like those in Vancouver?
Recruiting is mostly done out of UBC. If you are from Vancouver but go to school elsewhere, just mention that you have an interest in going back early during the recruiting process and network with professionals in Vancouver. There's obviously way more positions out of Toronto so it's perhaps better to start there and transfer later on.
Throw in Parallel 49... a buyout shop on its 5th fund. Not sure how performance has been over its lifespan.
I am new to Vancouver and exploring opportunities here as well. What I have seen so far is mostly client-oriented positions (Financial Advisor, Sales, etc..) but haven't seen much of "office" jobs.
It would be great to build some connections here and get to know the market better. Feel free to pm me and best of luck in your search!
Equity Research in Vancouver, BC? (Originally Posted: 02/05/2015)
Hi WSO,
I'm a recent science grad in Vancouver looking to move into ER (ideally focusing on biotech and pharm). I'm currently studying for my CFAI and looking for opportunities to get real work experience as an ER. Anyone know of any ER firms in Vancouver? So far I've found BlackOre, Raymond James, Linde, & Leith Wheeler but I'd love to compile a more comprehensive list, especially firms that focus on biotech which I can't seem to find. Also, does anyone have any advice for someone like me with very little finance experience looking to break into the field in a city that doesn't seem to have a lot of finance activity? Although by now I've pretty much accepted the fact that I'll probably have to relocate in order to gain relevant experience...
Thanks
Also, when sending out applications for internships, would it be advisable to attach a personal research report along with my cover letter and CV? Since I've already been out of college for 8 months now I feel like I should do something to stand out as most internships are looking for prospects that are still students.
There's also Odlum Brown and FRC. Outside of RJ, they are all independent research firms or buyside.
You're likely going to have to move to Toronto. Also, unless you have top-notch marks (90+), it's very unlikely that you'll be able to get a research associate position with any of the recognizable names unless you have an in with someone.
Some options to get in: (1) Network (2) Go work at a pharma/biotech company, do your CFA exams, get Bloomberg certified, and make sure you've got SQL/VBA/Macros mastered in Excel.
It's definitely a good idea to attach an original research report.
In reference to your second post...I would absolutely do that. I can guarantee you'd be one of the only applicants who do that - there are bound to be recipients who award you a first round just to tell you how rare that'd be.
Also, aside from RJ, I haven't heard of the other three. Really shows the plethora of niches built in regional markets.
Boutique AM Vancouver/Calgary (Originally Posted: 03/27/2013)
I am asking for a favor, and I am not even sure whether it is possible. I just heard it is. If anyone with CapIQ could run a search for me on small (up to 10 people office) AM firms in Vancouver/Calgary I would really appreciate it.
Quick background: I am hoping that CapIQ will add on to my already existing list which I got from googling. I just got my round of rejections so I need to expand the list.
I know how busy you guys are so thank you.
Hi, let me know what sort of reports you need and my company should be able to help! Shaun, Bureau van Dijk
Bottom-Up AM Vancouver/Calgary (Originally Posted: 03/26/2013)
Ladies and Gentlemen, thanks for stepping by
I am a senior in semi-traget school, buy-side ER wannabe. Currently I am actively networking with boutique asset management firms in my area and I would really appreciate if you could help me with my search.
If you happened know any boutique AM firm with a bottom-up approach in Vancouver/Calgary area, please would you be so kind to post its name or website link. Thanks, your help is greatly appreciated!
I don't care about the AUM, name, comp, and etc. All I care is to get into buy-side where I will be able to learn business analysis and how to become a good investor.
google.
Yeah thx I did. Just hoping someone could add on
In Soviet Russia, assets manage you!
Wait, I live in Calgary....
/subs
know a bottom-up boutique or two?
Nope, I work for big oil, gunning for ER. Not even sure how I ended up in this forum to be honest.
finance in vancouver?random i know (Originally Posted: 06/23/2010)
title says it all. whats the state of the industry there? ive heard insurance is big there. banking? F500s? whats it like to live there? besides rainy. ive heard theres a high cost of living
Do a search, there was a post a couple of month's back on a similar topic.
In Canada, your big markets are Toronto, Calgary, Montreal, and Vancouver -- in that general order. Vancouver is perhaps the smallest market, and most of the bankers are generalists. Mining, forestry, biotech are some of the major industries.
Cost of living is possibly the highest in Canada. Lifestyle is excellent, but if you're in banking, it'll be tough to enjoy, but relatively better than being in other cities .
I'm from Vancouver.... It's a very high, albeit not NYC level cost of living, the lifestyle is amazing, by day or night. Exciting city and tons of wealth around, but finance/banking is quite behind the scenes and as "bobbylou" said mostly for generalists. Real Estate and Hospitality run the town.
I've seen research reports from RBC with Vancouver area codes. I guess they must have some research guys out there.
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