Bulge Bracket Research Departments

I'm a little confused on how bulge-bracket research departments are organized as it pertains to buy-side vs. sell-side. Obviously BB Banks have their sell-side departments but they also have divisions doing research for their own investments, correct?

Is there is a list somewhere that contains the different names of the divisions at these banks and their function?

Comments (3)

May 26, 2011

It might be part of asset management. I know JPM has research division which is sellside and they might have a research part of JPMAM (from what my friend said, who is a summer there this year) which feeds investment ideas of the PMs in JPMAM.

I am not sure how the other BBs are organized in terms of buyside research within AM.

May 26, 2011

JPM, GS, UBS, CS etc all have asset management divisions which run their in-house funds. These divisions have their own research analysts, whose roles are practically the same as analysts at traditional AM firms. Sell-side research is a completely different division - main role is to model earnings, estimate EPS, and facilitate client trades by offering expertise. You could argue that, if you compared buy side vs sell side at the junior level, what they actually do on the job is not that different, but it depends.

May 26, 2011