How is Barcap's London IBD office?
Anyone have any insight into how strong Barcap's London IBD office is?
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They are very very good in DCM. Energy and power is also strong following Lehman integration.
They are expanding their ECM and M&A businesses with some big name hires (KIm Renwick), but as to whether they'll be actually good at it is unknown at this stage - probably yes, they have the balance sheet, but on the other hand, their equities secondary trading/placement platform is rubbish so that might hinder them.
If I were you, I'd narrow it down to what interests me M&A, ECM or DCM, rather than what they are currently good at.
Just my 2c.
Ok, well M&A/Equity Underwriting interests me over a capital markets role...
Basically, I think it's pretty clear as to what Barcap's U.S. IBD is going to look like in the short to medium-term, considering it's essentially Lehman's heritage M&A IBD...
But, I'm basically just trying to get a feel for how they are in London. I know that JPMorgan Cazenove, Goldman, and UBS are good in London, but how is Barcap?
Barcap M&A is nonexistent at the moment, but as I've said they are looking to expand there. The same goes for their ECM - they are hiring ~450 ECM/equites s&t guys in London. They do have the balance sheet to compete with JPMCaz for equity underwritings so they probably will be a top 10 player someday.
So in conclusion, right now, at this stage, they are shit at M&A and ECM in Europe/UK. But they are certainly the one to watch for the future.
Just my 2c.
Barcap is amazing in London. Its European presence has always been very strong.
Barcap is well respected outside of the US, no one gives a shit about them here in NY. Nonetheless, the NY office has more prestige than the London office because that is where all of their major deals originate (look at league tables).
It is funny to me however, that Americans want to go to London, and they want to come to NY.
This entire post is sort of confusing. So, basically Barclays in London is more respected, but NY is actually the better office? I took a look at the league tables and Barcap is almost non-existant on European deals...is there something I'm missing? Or are they really just very low on the league tables?
Also, in what way is it funny Americans want to go to london and new york?
Basically, Barclays is well known outside of the U.S, not particularly for their M&A or thier IBD division in general. But as an OVERALL bank it is strong.
Barclays NY is a much better office. Yeah you are correct, they are almost non-existant on european deals, therefore, their M&A group is shit. (league table = prestige).
Here in NY everyone wants to get transfered to london b/c they assume that is the financial capital of the world (v.s financial capital of US). In london, the kids that went to LSE and ISEAD, and Oxford, they all want to come work in NY...well mostly bc the grass is always greener on the other side...
There's no clear leader in Europe, it changes quite a lot all the time and GS is definitely not top dog, though in terms of brand name it does have the same prestige. The European banks (DB,CS, UBS - though wouldn't wanna go there now) and the top 3-4 US banks are the leaders in Europe and what you could consider the BB.
Barcap is not in the same league in terms of M&A and would not be first choice. For debt yes it's a powerhouse but otherwise there are better places.
That said the firm is pretty relaxed and seemed like a pretty decent company. In general if you are going to work in Europe it's better to work for a european bank, since they are not considered somehow inferior as they are in the US but the general work life balance and atmosphere is less intense from what I can gauge.
Barcap NY is Lehman Legacy, so how the London office is more prestigious is beyond me given that there is virtually no M&A presence as of now.
If you have a choice, the NYC office is the place to be.
Anyway, Barcap is aggresively building its European platform, hiring Renwick, Posonby, and Warham recently.
Probably the bank to keep an eye out for.
Barcap London IBD is probably not there yet. It will take some time.
The strongest banks is Europe atm are JPM(JPM Cazenove is v. strong), GS, MS, DB and CS. I'm not sure who, earlier in the thread, said that GS is not strong in Europe but that is bull. They are surprisingly weak in the UK but their franchise is great for Europe as a whole.
Both IBD and S&T?
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