Hey guys, do you have any insight on the energy team at RBC in NY? I heard one analyst went to an energy-specific PE firm last year and another went to a non-energy team. Does this team get solid deal flow/ lead to exits at HF?
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Not certain on this but I would guess that the NYC office would be focused on pipelines and utilities with all of the upstream / E&P based out of Calgary or Houston so it depends on what you want to do. They just advised on that massive POS Cenovus deal although I'm not sure which office that was executed out of.
RBC's NY Energy team focuses on midstream/refining, just to add some insight. Do you know if this allows for non-energy specific exit opps into HF? Curious about this as well, since it is not as specialized as Oil & Gas Houston, and location (NY) is good for HH
Entire US energy banking and research division at another Canadian bank just got axed because of deal flow drying up. Not sure how RBC's is doing but from talking to one of the associates on the team he hears it's more or less a common theme from anyone who doesn't have a GS/MS/JPM-like balance sheet.
Thanks for brining this up, but RBC actually has a massive balance sheet which it has used for the past decade to make its push into the top 10 investment banks in fees. Haha I'm guessing your referring to BMO lmao those guys are a joke
Stealing your thread a bit, but what is the best energy team on the street?
Barclays Houston. No competition
Sorry should have clarified. In NYC
Pretty debatable now actually.
Barclays has a great team but Jefferies is basically the only name in upstream. GS/Evercore are often on the big deals. CS is still strong.
Any word on Lazard or MS?
Lazard is pretty solid though I know they're struggling a bit coming out of RX mode. That said, I've got some buddies over there and they're always live.
Can't speak to MS too well but my understanding is that they're doing fine.
Both are pretty weak relatively speaking.
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