ING IBD vs Prudential Capital Group (London)

Hi everyone,

I wanted to ask for advice between two offers I have.

One is for Corp. Fin. at ING's IBD (M&A and ECM) mainly focussed on Europe and Emerging Europe (a lot of Russia, E. Europe and some western Europe).

ING bought over Barings bank in 1995 in the UK and a lot of personnel from that time still remain ( a good sign).
Its absolutely a MM place, with no designs of aiming for BB deals, but the deal flow is extremely solid and they are a leader in the markets they operate in.

The other is at Prudential Capital Group (called Pricoa in London), which is a buy side investor in private debt. also mainly in MM but does do some large cap investments.

I'm torn between the two. The people at Pricoa are really really nice and they REALLY want me to join them. Hours are very reasonable, good office, decent pay. But the office only has 8 people and 4 are analysts.

M&A is something I've been trying to break into for a couple years now and the ING offer is exactly that, although hardly a BB or even an elite boutique. On the other hand Pricoa is something different and a better lifestyle. Can someone advise as to what would be the better choice in terms of learning, getting experience, exit opps, b school opps?

Many thanks.

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Comments (10)

Mar 4, 2010 - 5:30pm

Just sent you a pm, to be honest I don't know much about Pricoa but from researching INGs deals I came across:

www.ingcommercialbankingdeals.nl
http://www.ft.com/cms/s/0/4c9491d8-d284-11de-af63-00144feabdc0.html
- Cannon > Oce (EUR 1.3bn)
http://www.ft.com/cms/s/0/3a30dfde-019b-11de-8199-000077b07658.html
- Vattenfall > Nuon (EUR 8.5bn)

I wouldn't call the above deals mid-market, but I agree with your other comments, I think their scope is just more limited than other banks.

But I'd be interested in hearing other peoples thoughts..

Best Response
Mar 4, 2010 - 6:57pm
bobjim:
Hi everyone,

I wanted to ask for advice between two offers I have.

One is for Corp. Fin. at ING's IBD (M&A and ECM) mainly focussed on Europe and Emerging Europe (a lot of Russia, E. Europe and some western Europe).

ING bought over Barings bank in 1995 in the UK and a lot of personnel from that time still remain ( a good sign).
Its absolutely a MM place, with no designs of aiming for BB deals, but the deal flow is extremely solid and they are a leader in the markets they operate in.

The other is at Prudential Capital Group (called Pricoa in London), which is a buy side investor in private debt. also mainly in MM but does do some large cap investments.

I'm torn between the two. The people at Pricoa are really really nice and they REALLY want me to join them. Hours are very reasonable, good office, decent pay. But the office only has 8 people and 4 are analysts.

M&A is something I've been trying to break into for a couple years now and the ING offer is exactly that, although hardly a BB or even an elite boutique. On the other hand Pricoa is something different and a better lifestyle. Can someone advise as to what would be the better choice in terms of learning, getting experience, exit opps, b school opps?

Many thanks.

what is the compensation for each offer?

Pricoa is buy-side credit, which could be an interesting experience, but I get that working in a small office is a turn-off.

both offers are good, ING might be more fun b/c of the larger office

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Mar 5, 2010 - 9:07am

Pricoa & PCG are basically the same thing. Worked on a Private Placements desk in London and we dealt w/ Pricoa on every deal. They are very well known in the credit space and your exit ops would be top b-schools or top HFs post analyst program (think it's a 3 yr program). Although salary is slightly below BB going rate.

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