DC Advisory vs HSBC M&A London

Hi guys,

I recently got an offer from both firms and was wondering what do you think would be the best choice regarding deal flow/exposure and exit ops?

Any insight would be really helpful.
Thanks

 
Best Response

Is this for FT or Summer?

Not really a clear answer below, just an assortment of thoughts:

DC Advisory is a solid MM M&A house - they do a lot of work with PE firms so exits are usually MM PE. Pay from what I've heard is below street. Compares to places like Canaccord Genuity, Harris Williams, Baird and Lincoln International in terms of reputation.

HSBC M&A would be a more well-recognised brand, both inside and outside of IB / financial services. Get the feeling that M&A is propped up by their financing capabilities though. Pay would be better.

I'd probably pick HSBC.

 

Hey,

Thank you for your insights. Both offers are for summer.

That is exactly the same impression that I have. Was not sure though whether DC would provide better exit ops inside IB. So, you believe that even in M&A, HSBC is a stronger name?

 

I'd pick HSBC yeah, but my insights into both are limited (I interviewed with both a few years ago when I was applying for summer internships).

Given you will be doing the internship programme, I'd think about these things:

  • Which place is more likely to convert to FT?
  • If you do convert, which brand would provide the better exit opportunities?
  • If you do not convert, and decide to reapply for other banks, which brand looks better on the CV?

I believe the answer to the third question would be HSBC (having interviewed across the spectrum - BB to boutique - with an internship at a bank similar to HSBC on my CV).

The answer to the second question, I feel is HSBC. If you chose to go to business school, HSBC will be more well known to admissions teams, if you choose to work internationally, HSBC is again more well known. And even for PE, I doubt DC Advisory will have a much greater pull. Also, HSBC should have a much larger junior team which would make the experience more fun than DC (I imagine in London the latter will have less than 20 Analysts and Associates).

 

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