RBC Capital Markets Toronto vs. New York

CDN's picture
Rank: Baboon | banana points 168

Hey guys,

I wanted to get some more info on RBC NY. RBC is a dominant bank in terms of deal flow here in Toronto but how's their New York office? Anyone know an analyst that works there, what are his/her experiences like? I'll be at another firm for this summer but I have contacts at both these offices for next fall.

I was looking at the M&A team on the company website and it seems everyone is in Toronto so does the NY office do any execution? I would also like to hear from analysts at other banks who may have some knowledge on these guys.

Comments (8)

  • aloki
  •  Mar 29, 2008

To clarify, I don't know anyone at RBC here in the states, but it seems to me that it's not really much of a player in New York. I never really even considered going to RBC as a possibility; of course I've heard of it, but nothing particularly good. The kids who can't get what they want may settle for it, but it's not even all that big a recruiting presence. On the other hand, my friends in Toronto have talked about wanting to work there. Put two and two together and I think it's safe to assume that the Toronto office is the place to go.

Mar 29, 2008

I know a guy who works for RBC in their software banking group in Boston. While RBC is the biggest bank in Canada, they are largely an afterthought in the states. It's actually quite weird IMO as they have almost no presence here.

Mar 29, 2008

I know someone at RBC in SF and as others have mentioned it has a very limited presence on this side of Niagara Falls. It's often considered a MM, at best.

Mar 29, 2008

I met a few senior people at the office there, obviously it is does not compete against BB for large cap deals. They said the focus is towards mid-market work, and I would guess they don't just support on execution, sending it to head office, they do their own. They bought out some boutique in Colorado (Daniel & associates I believe) for some Telecomm exposure I believe, so I think they added execution for deals in Midwest through that acquisition. Don't know much more, or any analysts there, so I can't be of more help.

Mar 29, 2008

RBC is one of the best banking gigs in Toronto because they are so dominant in that market and have a seat at the table on almost all the biggest Canadian deals. But, as you can probably tell by the other comments, RBC's presence in the US is a toe-hold at best and the name barely even registers down here.

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Mar 30, 2008

which would be easier:

  • RBC Toronto >> MM PE in NY at a firm with $500MM-$5BB in AUM

or

  • RBC New York >> MM PE in NY at a firm with $500MM-$5BB in AUM

In other words, will the New York "advantage" come into play if your end goal is pe in New York. Or will RBC Toronto still be better based solely on more solid deal expereince?

Thanks for the info guys.

Mar 30, 2008

lol nevermind I just realize that if your an investment banker in Toronto it's not really feasible to get a PE gig in New York as you would have to travel to NYC for interviews while working in Toronto.

Mar 30, 2008