Transaction Banking ?

Hey guys... so I just saw an article from BI about TB. It says that Citi and HSBC are leaders in this division, while JPMorgan and Deutsche are catching up. In the past year some banks cut their dealmaking staffs, and IBD is especially hard to break into for a prospective monkey.

So, any insights on Transaction Banking ? Its prospect, compensation, how to break into it? Is it a good alternative to IB (this might sound strange).
The article mentioned that some banks are transferring investment bankers to this division.

Thanks in advance.

 

"In the past year some banks cut their dealmaking staffs, and IBD is especially hard to break into for a prospective monkey."

So you don't see how firms trimming the fat from their IBDs now (while you're presumably not working in this sector) is good for you? Surely these firms have cut back staff in the past and then filled the empty seats again once deal flow picks back up. Have patience.

 

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