Does anyone here work at NYIC/ know someone who does? My buddy received an offer to be an intern for 3 months and then be hired FT for a "negotiable" 70-75k. Seems fishy to me, especially given the lack of deal flow on their website.
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Looks sketchy as fuck. Would avoid at all costs.
Bump
What more do you need to know? Most ppl will echo what Tony has said above
Wow - what a sketchy website. Avoid.
Debatable. The pictures on the website seem sketchy but the wording seems normal for an IB. Plus if you do a quick LinkedIn search, the page has a couple of thousand likes and has 50+ employees. I would think it's real
This is not a legit investment bank. They are clearly trying to scam you if you give them the opportunity. When my buddy applied, they showed interest and then the first email they sent was a threat that "you must do this in 2 days or your internship will be withdrawn." After that they threaten to take away your internship if you don't reply to them immediately. Run!
I just received the email containing same stuff. Offer letter and saying the deadline is within 2 days.
Beware, my friend did the first step of the process and the next step is giving them information that you shouldn't be giving them. SCAM!
I looked through one of their job listings, the position has no base salary and is on a "commission basis". iNvEsTmEnT bAnKiNg
Not a real bank! Typos in their emails and contracts. No registration numbers of any kind. No info about company/deals/executives on Bloomberg, EDGAR, etc. I called 1WTC and the Durst Org. (leasing co.)...NYIC is not a tenant of the building. Emails were very threatening and the phone number listed on the website is invalid. Website also indicates they’re on the 85th floor, but emails vary...84th, 86th. Nobody ever responds to your phone calls either. Only 2 paid employees. The other ~150 are unpaid-interns! I filed a report with the BBB, FTC, and emailed the SEC. I’ll attach a copy of the email chain and the contracts they try to get you to sign. Upon accepting the offer (and signing your life away) they request too much personal info (imho) for an unpaid gig. SSN, Student ID, DL, proof of address, etc. Nope!
Dear Mr/Ms @alex2102 , thank you for your attention to our company.
We are sorry to see the misunderstanding that got created.
In fact, in essential, we are able to guarantee a best-in-class quality of service to our clients. We are also trying to create a highly optimistic and entrepreneurial culture and a highly-rewarding environment for our employees and interns.
We appreciate your feedback. We are sure there are many opportunities for us to improve. For example, we should improve our website and enable it to communicate with the public more effectively regarding who we are essentially are and more straightforward on what we can actually do. We are trying to make us better in every way non-stop daily.
If you have any concerns, in fact, we welcome you to reach out to us at our Corporate.General.Administrative(@)NYInternationalCapital(.)com and schedule an online video meeting with us face-to-face. We will be glad to address any of your questions and concerns.
Dear alex2102 - first of all, we are sorry for how you feel. We will work with our HR department to make efforts and optimize the recruiting process.
In the meanwhile, please understand our clients are good corporate clients. In order to be responsible for our clients and their confidential information as well as projects, like most of other employers on the street, we will have to collect necessary information in order to run a background check.
Nonetheless, thank you for your feedback. We will work with the HR department and try to simplify the process.
We will be able to keep you posted when there's any updates.
I just got off the phone with the guy who is apparently the global head of investment banking for this company... I can honestly say this was the sketchiest conversation I've ever had. They're interested in taking on our private placement mandate, and I knew they sounded sketchy as hell (their marketing materials are littered with grammar, english, and punctuation errors; and I thought to check them out on glassdoor). I told our CEO this was the fakest thing I've ever seen, but he told me to hop on the call with them to grill them and get a laugh.
The guy kept repeating over and over how they could close our funding round in less than two months, how they have a proprietary list of over 10,000 investors, they "only talk to the COOs" of these companies, they assign over 145 bankers to each deal, etc.
I asked them how they could support operations and communicate effectively internally if they have 145 people staffed on each mandate, and he basically ignored my question and kept talking about how much better and faster they could fill out a round for us than one of the more traditional household brands (goldman, citi, etc.).
Here's their supposed fee structure (quoted from marketing materials): "One-time Only Commitment Fee $5 million to $10 million capital raise: $10,000 $10 million to $15 million capital raise: $12,500 $15 million to $20 million capital raise: $15,000 $20 million to $30 million capital raise: $18,000 Above $30 million capital raise: $19,500
While other investment banks have a few months of retainers, nyic has no retainer fee - just a one-time small symbolic commitment fee.
Success Fee
First $10 million capital raise: 10% Additional $10 million: 9% Additional $10 million: 8% Additional $10 million: 7% Additional $10 million: 6% Additional capital arrangement: 5.5%"
He claims they work 10 deals simultaneously.. If we use the "one time commitment" fees from clients, assuming no other overhead (rent) or expenses, that would only translate to paying each employee $465 per month... It kind of proves that the company is indeed 143 unpaid interns and two scam artists running this shop...
Also, I figured out how they can claim they're in 1WTC. There's a virtual offices service on the 85th floor of 1WTC. See here: https://www.servcorp.com/en/virtual-offices/prices-locations/new-york-c…
I asked them to send me more materials and also asked if our team could stop by their offices for an in person meeting. LMK if you want me to grill them with anything in particular.
I've seen international students doing "internships" at this place. This is a "company" who capitalizes on non-target-school international students' dreams of working in high finance.
What did you find out when you went to their office?
Dear CheersGordon - thank you for your attention.
First of all, we are sorry for the misunderstanding and miscommunication that got created.
Second of all, we appreciate your time speaking with us the other day. To us, it seemed to be a good phone conversation. Surprisingly, now we've got to know you actually feel so differently from how we do. But obviously, it seems like it's too early to make a judgement on us before we even meet. Therefore, to have a better understanding to each other, we will be glad to invite you to our new office at ONE WEST END for an in-person meeting at a convenient time for you.
Thirdly, we apologize for the errors. While being an patriotic American company with proud, it is true that many of us are not originally born or raised here. However, we are very confident we will be able to make it up with great work ethics, firm commitment to our clients, and proprietary chief executives connections of the world's leading companies based in both the U.S. and in foreign countries.
Fourthly, to answer your question that you felt being ignored: we support operations and communicate effectively internally across multiple different time zones by using G Suite Enterprise. For details, we will be glad to show you in person at our meeting.
Last not the least, the materials we shared with you after the phone call are marked as "strictly private and confidential". We kindly request you to stop sharing the information to public.
Again, thank you for the feedback. We will contact you and your CEO again via email soon.
One West End is a condo. Your bank works inside a condo? That's probably against the condo's rules.
Dear CheersGordon - thank you for your attention.
First of all, we are sorry for the misunderstanding and miscommunication that got created.
Second of all, we appreciate your time speaking with us the other day. To us, it seemed to be a good phone conversation. Surprisingly, now we've got to know you actually feel so differently from how we do. But obviously, it seems like it's too early to make a judgement on us before we even meet. Therefore, to have a better understanding to each other, we will be glad to invite you to our new office at ONE WEST END for an in-person meeting at a convenient time for you.
Thirdly, we apologize for the errors. While being an patriotic American company with proud, it is true that many of us are not originally born or raised here. However, we are very confident we will be able to make it up with great work ethics, firm commitment to our clients, and proprietary chief executives connections of the world's leading companies based in both the U.S. and in foreign countries.
Fourthly, to answer your question that you felt being ignored: we support operations and communicate effectively internally across multiple different time zones by using G Suite Enterprise. For details, we will be glad to show you in person at our meeting.
Last not the least, the materials we shared with you after the phone call are marked as "strictly private and confidential". We kindly request you to stop sharing the information to public.
Again, thank you for the feedback. We will contact you and your CEO again via email soon.
Yes, it looks very sketchy. Got an email from them and the wording was so pushy and unusually threatening I can tell despite not being a native speaker.
Can you provide me that email from which you got this. Please?
Why?
So glad I saw this. I was about to recruit with this firm...
Just typed their various names into Pitchbook and Capital IQ - the results were near-empty shells - no deal details, no board members or other professionals, just an address and sector listings. They don't come up at all in Preqin or in CB Insights.
The website is, as has been said repeatedly, sketchy AF. Tons and tons of stock photo footage, no deal listings, no board member listings, even the captions in photos from supposed conferences that NYIC attends and presents at, there are no names of the individuals.
This one particular paragraph has me going "REALLY?!?"... from their "Structure/Experience" tab...
https://www.nyinternationalcapital.com/structure-experience
"Self-description Information. This website contains self-description of NYIC’s team, structure and business by NYIC. Since investment banking is a fast-changing industry, NYIC is not able to keep the self-description or any information about the company updated on time. Therefore, NYIC is not responsible for the accuracy and authentication of the self-description or of any information about NYIC’s team, structure, and business and other aspects of the company on the website. Any business entity, individual, institution or organization is subject to their own discretion on whether to work on any transactions or have any form of relationship or interaction with NYIC. NYIC is not responsible for any loss caused by recipient’s any form of relationship or interaction with NYIC."
Why tf is wso marking this as the most controversial.
I was curious about that red frame around my post too, LOL.
Was gonna to ping Patrick or someone else at WSO, but today the "most controversial" framing is gone.
"This website contains forward-looking statements – that is, statements related to future, not past, events." lol at this
It's a scam bank, it's a way for international (read: Chinese) students to get "Investment Banking Analyst" on their resume.
Dear InfoDominatrix thank you for your attention to our company.
We are sorry to see the misunderstanding that got created.
In fact, in essential, we are able to guarantee a best-in-class quality of service to our clients. We are also trying to create a highly optimistic and entrepreneurial culture and a highly-rewarding environment for our employees and interns.
We appreciate your feedback. We are sure there are many opportunities for us to improve. For example, we should improve our website and enable it to communicate with the public more effectively regarding who we are essentially are and more straightforward on what we can actually do. We are trying to make us better in every way non-stop daily.
If you have any concerns, in fact, we welcome you to reach out to us at our Corporate.General.Administrative(@)NYInternationalCapital(.)com and schedule an online video meeting with us face-to-face. We will be glad to address any of your questions and concerns.
Dear @GasallNontargets" - also want to make it clear that we are an equal opportunity employer.
Many users here on the site who got offers from us are obviously not Chinese students.
Scam
If you go on Linkedin and look at employee profiles, they are so fucking weird. And I am confused how they have those transaction experiences?
Tobin & Co's NY Branch
My buddy recently worked there, he said it was legit!
All the recent users that have defended this bank have single digit bananas lol. Definitely a scam.
All the recen users that have defended this bank have single digit bananas lol. Definitely a scam. Also on Linkedin all the profiles that I've seen of analysts are actually interns who wrote the title of analyst in their title (which is deceptive in itself).
NYIC, LLC (New York International Capital, LLC) claims to have a CIK / SEC registration. The site they direct you to is “sec.report/CIK/000169023” which is in no way affiliated with the actual SEC.gov website through EDGAR. Definitely a scam.
Can we report them? They deceive a lot of nontarget kids. I almost recruited with the bank (have some inside info: names, email) if you want.
Did u? Can sd email check with SEC if NYIC is licensed
Fucked around there for 6mo. I let the c execs of the companies we were raising capital for know bank was fraudulent before jumping off the ship. Most "senior bankers" there are based in China with the exception to one who is based in NYC. They will meet with you face to face to try to get your business. They will let interns attend face to face pitches too. We did actual work trying to raise capital from pe/vc for the companies we represented. None of the ib people who were not interns spoke English as their native language. The fucking senior analyst was having problems with an expired visa. The list of NYIC people on their website are all interns not paid employees. AMA you want to know about them but as already stated by others avoid.
Is it a fake company? Are those companies engaged in the pitch also fake?
Is it a fake company? Are those companies engaged in the pitch also fake?
The little blurb on their homepage is absolutely wild. Love the patriotism.
"NYIC - a Patriotic AMERICAN Wall Street Investment Bank, headquartered on the 6th floor of ONE WEST END, Manhattan, New York City, has the unique ability to deploy 200+ professionals GLOBALLY, ALL dedicated to YOUR deal project connecting you with 10,000+ CHIEF EXECUTIVES of the world's 5,000+ MOST PRESTIGIOUS BLUE CHIP buyers and investors."
Why is like every other word capitalized. Did @Lloyd BIankfein" write this?
It’s something those born in China do when they are trying to emphasize a statement .
Looks like this dude got busted lol
https://www.nydailynews.com/coronavirus/ny-coronavirus-small-business-s…
That's the guy that interviewed my friend for this "company". Glad he won't be able to scam people anymore.
Yikes feel bad for all the international Chinese students
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