Nomura v KeyBanc
Which would be better option for summer analyst role? for IB in NYC for someone who is unsure what they wanna do with their career
May 21, 2020
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Group dependent. Key does pretty well in a few verticals.
Take my input with a grain of salt, but I think Nomura is a better choice as a result of its name and larger global presence. That being said, if there is a standout KeyBanc group (which I might not know of), then that could be better than Nomura.
All else equal, take Nomura
Where would Wells Fargo NYC go (compared to Nomura / KeyBanc)? I'm thinking about applying when their portal opens soon.
WF >>>> Nomura
Dude, you're totally highjacking the thread, WF vs. Nomura was not OP's questions. However...
This is entirely me being a snob that did banking when it was more okay to just be a dick about these things, but if you're at that level of just ending up at a balance sheet bank anyway, I would personally just go to Nomura. If you're super ambitious, you're going to have to lateral out after year 1 anyway and both firms will let you lateral back into the upper-levels of the game if you focus on making the jump. At least Nomura is slightly mysterious and foreign to non-finance people - the Wells Fargo name on the other hand is just a prestige anti-boner.
I think KeyBanc is a better choice for you. Nomura can have very long hours for interns so if you are not sure about what you want to do KeyBanc is better for you. Also, it would be easier to lateral working at KeyBank as compared to Nomura. Definitely KeyBanc is the best option.
Like the users above stated, it depends on which group at KeyBanc. New York is one of their larger offices (Cleveland is the biggest), so I would definitely check with any contacts you have at the bank (assuming you have an offer and have someone you can reach out to) about how much of the group's work is execution and how much is supporting the Cleveland office.
Regarding hours, most of the groups at Key (M&A, Industrials, Consumer & Retail, Cain Brothers Healthcare, and Tech) are going to have standard long hours (80+ per week). Nomura has a larger name in IB, but if you are at one of the better groups at Key, I think you would have a better experience there as I've seen other threads that say Nomura doesn't do much M&A in the US.
thanks for the response! assuming I won't know my placement until later, would it be safer to take nomura?
Not necessarily. I'll preface my answer by saying that my knowledge of KBCM is limited mostly to the Cleveland and Chicago offices, as well as knowing nothing about Nomura's exits. The answer also relies on what you are looking for. If you want a career in banking, I would lean heavily towards Key. If you want M&A exposure, Key is a much better option. PE is very doable from Key, but you're mostly looking at LMM funds and some MM funds if you are in a top group; I have no clue how Nomura places into PE, but I can't imagine it is any better given the lack of M&A dealflow and the emphasis on Japanese clients.
Nomura's best groups appear to be LevFin and Sponsors, while other groups are apparently not as good. NY Group placements for SAs at Key are Industrials, Tech, Corporate Banking, and Public Finance (according to the application, please correct me if I'm wrong). If you are a strong candidate, I am sure you can land in the first 2. Corporate Banking (NY is the regional HQ for the group) is also strong, but you'll be focused on lending, not M&A and will have difficulties exiting to PE or HF roles. Public Finance is very niche and will not exit to PE or HF if you are interested in those routes. Group placement will be a concern at both banks, so make sure you establish a strong network at which ever bank you decide to join. The only reason I am hesitant to recommend Key is because I simply do not know the breakdown of execution vs support of the NY groups for Industrials and Tech (which is based out of Portland and Seattle primarily). If you are able to figure that out, I think your answer becomes much clearer. I hope this was helpful.
Definitely take KeyBanc
I agree with the users above, KeyBanc is a very option for you. If you are able to join a solid group at Key (Consumer & Retail, Tech, M&A) then you would definitely have a better experience. Most of the clients for Nomura are from Japan, they have very few US clients, so in KeyBank you would have better exposure if you want to stay in the United States. Not much M&A at Nomura in the US.
Cain Bro's (the healthcare group at KB) is pretty gas if you can swing that one
How do you view Cain brothers now. Do you know exits or comp?
Which one are you choosing?
ended up taking nomura. basically flipped a coin
How's your Nomura Intern in 2020. Does Intern work very long hour e.g. every day until 12AM every day?
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