I don't get league tables
Sorry if I'm a noob here but I pride myself on how educated I am concerning banks. Everyone here at school usually asks me concerning investment banking information. However, I'm quite lost at this thomas reuters league table thing. I saw a link in another thread so I made an account there http://online.thomsonreuters.com/DealsIntelligenc…
However, what should I be looking at? What is the MOST IMPORTANT table? Would it be Global Equity, Global Debt, Global M&A, U.S. Equity, U.S. Debt, U.S. M&A?
Or should I just combine everything and divide it all by 3 to get the overall league table ranking?
Thanks for your help guys!!!!
bankers realize they add little value so they need to hide behind something (jk)...it depends on the product your pitching...
So say you are a BB like UBS, what is the point of being a BB if it is consistently lower than boutiques and other banks? Would it mean that they are having a bad year or that they are not considered a BB?
Would this also prove that BB's like are always top such as JPM/GS are better than boutiques?
M&A has lots of prestige, so you might see Evercore is higher than UBS and assume it's better. The fact is, it's only better to college students and banking analysts, who all get paid roughly the same and all are in what seems to the rest of the world a prestigious industry, so need some sort of differentiating factor. The point of being a BB, traditionally, is that you go first on the tombstone/prospectus. Banks are businesses like any other; Evercore might lead in the M&A rankings, but UBS had different product lines and makes more money than Evercore, so it is the more successful business.
League tables are useful because, short of throwing their rolodexes side by side, they are the best way for bankers to convince clients they are better than the competition - look, we are #1 for healthcare divestitures of between $560mm and $4bn with one named adviser for the period dating 4/5/09 - 9/8/09. If other businesses have chosen that bank before, it acts as positive affirmation to the business that they are making the right choice. If they haven't had any dealflow, the client is going to wonder what the other businesses knew he doesn't.
I won't focus much on the league tables particularly changes every quarter. Rather just look at them over a extend period of quarters to get a feel for how the banks stack up. Too much variability with announced vs executed and all the different ways to slice up league tables.
Besides every bank changes what the tables actually include to make themselves 1st or 2nd (ie change the deal size or cutoff dates). If you fall in 3rd don't use that chart and find a way to make yourself 1st or 2nd.
^ ok thanks
so then let's say we only look at Global M&A Financial Advisory for 3Q 2009
and then according to that data, the best banks in the United States are:
Whereas the banks in the world are:
you look at the league table that you have the highest rank in. that's all there is to it.
Of course you don't get League Tables. You go to Duke. That explains it all!
woot top 5 in both :D
I think the U.S. one is more important though, even though my bank's the same rank in both. Mostly because banks like Blackstone are not so concentrated in the world stage but I bet anyone here would take Blackstone over say, BNP Paribas in the United States. Of course, ignore this if you don't want to work in the U.S.
In all those M&A league tables, there's this bank called "AP Services". Who exactly are they?
they do restructuring consulting/"crisis management". i think they were involved in the gm bankruptcy in some capacity. not real "investment banking" so not really sure why they get league table credit, unless they also have a ib practice which i'm unaware of.
What's the full name of the company? Tried googling AP Services and the first few links come up from collegeboard ap exams.
its a subsidiary of alix partners
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