JPM/BAML/Citi

Hi,

Can anyone in JPM/BAML/Citi IBD M&A sector teams or ECM/DCM/LevFin product teams explain how their team's relationship is with the corporate banking coverage team in those firms?

All commercial banks have a large corporate banking division. BAML/Citi/JPM are currently integrating that Corporate Banking more with IBD. How are your experiences?

Is it true that you are corporate banking people's bitch? They don't contribute just arrange a meeting and attend all meetings whilst you work day and night for them and get a share of the revenues?

Some people argue it is better to work within a firm without corporate banking coverage divisions such as GS/MS/UBS/CS.

Thanks
Pivot

 

Better to work at UBS than JPM? Are you high?

Wall Street leaders now understand that they made a mistake, one born of their innocent and trusting nature. They trusted ordinary Americans to behave more responsibly than they themselves ever would, and these ordinary Americans betrayed their trust.
 

Different question, but is there any difference in the analyst experience at a purely advisory firm versus a company that can provide financing/distribution? i.e. Lazard/Evercore M&A that can't provide financing for the deal versus JPM M&A. How much business is "thrown" to commercial banks to keep up the relationships and is any business "thrown" to advisory firms just to keep them happy?

No rain drop ever blames itself for the flood.
 
Dr.azn_stereotype:
Different question, but is there any difference in the analyst experience at a purely advisory firm versus a company that can provide financing/distribution? i.e. Lazard/Evercore M&A that can't provide financing for the deal versus JPM M&A. How much business is "thrown" to commercial banks to keep up the relationships and is any business "thrown" to advisory firms just to keep them happy?
  • 1 Good question. Would like to know as well.
 
Best Response
JeffSkilling:
Dr.azn_stereotype:
Different question, but is there any difference in the analyst experience at a purely advisory firm versus a company that can provide financing/distribution? i.e. Lazard/Evercore M&A that can't provide financing for the deal versus JPM M&A. How much business is "thrown" to commercial banks to keep up the relationships and is any business "thrown" to advisory firms just to keep them happy?
  • 1 Good question. Would like to know as well.

Well IMHO, pure M&A advisory shops such as EVR, GHL, etc, rely much more off their top guys' relationships, which is a gift and a curse (i.e. founders' risk).

IBDs that are part of a larger organization are often chosen for the ability to provide/raise capital in addition to merger advice. Firms like the one-stop-shop approach, and often, because of competition to provide debt, etc, firms will also pay lower fees all-in.

 

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