Comments (20)

Dec 28, 2006

Should probably not be in the same league as the other banks on your list. While it may not have the prestige of one of the "bulge brackets" it works on bigger deals than the other banks you have listed.

Dec 29, 2006

ok, how would you rank the rest then?

Dec 29, 2006

I'd put BofA and Barclays way ahead of the rest of them.

Dec 29, 2006

BofA
Jefferies
CIBC
Houlihan
HSBC
Piper Jaffray
RBC

I know nothing about Barclays so I won't comment on them, I haven't heard of them actively recruiting for analyst positions in the U.S.

Dec 29, 2006

I'd put Houlihan over CIBC because they've got a business model and do well with it, whereas I'm still not sure about what CIBC's business model is...

But otherwise agreed with Seanc. Barclays prestige obviously alot higher across the pond but if you're looking to do some pretty vanilla debt instruments they are probably right behind BofA or Jefferies.

Dec 29, 2006

is "boutique" and "middle market" basically interchangeable? or would it be insulting if you called a middle market bank a boutique? what about the other way around? what is the difference (if there are any) and where do you draw the line?

Dec 29, 2006
sshiah:

is "boutique" and "middle market" basically interchangeable? or would it be insulting if you called a middle market bank a boutique? what about the other way around? what is the difference (if there are any) and where do you draw the line?

Boutique = Bank that only provides a single service, like solely corporate finance/M&A.

Middle-Market = Banks that do deals below a certain size (I comepletely forgot the size)

A bank can be a boutique without being middle-market (ex. Greenhill, Evercore)

Also a bank can be middle-market without being a boutique (Jefferies, Wachovia, Piper Jaffray)

Dec 29, 2006
ginNtonic:
sshiah:

is "boutique" and "middle market" basically interchangeable? or would it be insulting if you called a middle market bank a boutique? what about the other way around? what is the difference (if there are any) and where do you draw the line?

Boutique = Bank that only provides a single service, like solely corporate finance/M&A.

Middle-Market = Banks that do deals below a certain size (I comepletely forgot the size)

A bank can be a boutique without being middle-market (ex. Greenhill, Evercore)

Also a bank can be middle-market without being a boutique (Jefferies, Wachovia, Piper Jaffray)

so is WR Hambrecht a middle market firm? thanks for the clarifications.

Dec 29, 2006

RBC doesn't have much of a rep in the States, but in Canada its the best CDN bank.

Dec 29, 2006

Technically MM is TEV 100mm - 1.5bn but for practical purposes MM is usually 100-800mm.

Dec 29, 2006

as a firm
BAS
HLHZ
Jefferies
Piper Jaffray
..the rest

HLHZ has a tight restructuring group believe it or not.

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Dec 29, 2006

Seems so crap - I had a look at their 'representative clients' for M&A - who are these companies?

Patel's 24hr Convenience Store Inc. acquisition of Hussain's Cash and Carry etc etc

You guys call that a 2nd tier bank and yet dismiss the likes of Lazard, Cazenove, Rothschild, and even Dresdner Kleinwort (which has advised on some 'real' transactions)

I don't get it - the NY-centric view is somewhat skewed.....

From the ghetto....

Dec 30, 2006
Tier2Sta:

Seems so crap - I had a look at their 'representative clients' for M&A - who are these companies?

Patel's 24hr Convenience Store Inc. acquisition of Hussain's Cash and Carry etc etc
From the ghetto....

Dude, don't knock me. I sold Patel's store and oh boy did we make a killing!! It's all in the pricing structure.

One of the aforementioned banks on this "to rank list" sold a company for $40MM (which is way under the IB's target size) and made a $2.98MM fee.

Not bad a for $40MM transaction!

Dec 15, 2007
opticalcharge][quote=Tier2Sta:

One of the aforementioned banks on this "to rank list" sold a company for $40MM (which is way under the IB's target size) and made a $2.98MM fee.

Not bad a for $40MM transaction!

Wow, that's a huge fee. CS toronto did a $30MM deal and took $1MM.

Dec 29, 2006

do these guys all pay market?

Dec 31, 2006

HLHZ FRG shouldn't be second tier.

Correct me if I'm wrong.

Dec 31, 2006

what about Macquarie?

Dec 31, 2006

They don't compete with any of them. They are off on their own separate realm. Not quite buyout, not quite ibanking

Dec 31, 2006

HLHZ is pretty good, it's just their M&A is like the jokes above selling bakeries and 5 little caesars under the name Fine Food Service LLC.

However, the restructuring and ADG are very respectable. A guy from ADG went to the activist group at Shamy.

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Dec 15, 2007
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