WF vs. UBS/DB
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UBS/DB and it isn’t close
Instead of just throwing MS at him can someone offer a counter?
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This question has been answered millions of times before. Why would you even ask it again if you are going to ask for nothing new? You didn't even say whether it was SA/FT, which group, what position, etc.
If you want M&A or coverage I think NOT Wells is probably a safe bet. Wells is decent in energy, I think. Wells also has very high volumes in LevFin, though they mostly stick to the safer (less interesting) deals.
I don’t really see wells leading any debt financings.. like what is everyone really working on? Internal credit memos?
I mean its pretty straightforward: UBS>DB>WF. Anyone that disagrees, works at WF.
As someone that does not work at a BB, it seems to me like DB is turning the corner and UBS is now the bottom BB. You think UBS is still clearly above DB?
this is false for the purposes of the discussion, Investment Banking deal flow. Too many people on this site conflate broader S&T and commercial banking performance with the quality of the investment bank. Just because DB and WF are having less scandals outside of the IB does not mean that they are suddenly better from a deal flow perspective - they have materially worse talent at the MD level which is all that matters. If what you want is quality deal flow, M&A work, and marquee transactions: UBS>>DB>>>>>WF
Yeah, and I think most people at a BB would agree.
The link below highlights why (DB not on M&A tables, and has significant revenues from their IG side - top 5 for investment grade debt) while UBS has much higher ECM and leveraged loan market share as well. I do think DB is improving, but UBS/CS are closer to the same tier than DB/UBS these days. Then WF at bottom.
http://graphics.wsj.com/investment-banking-scorecard/
As a WF analyst, I can give some clarity
if you’re going through the SA process, I’d shy away since the placement process is garbage. If you’re coming in FT and know what group then it could be different. E&P/FIG/LevFin are historically strong but the first two are niche and levfin isn’t wells’ specialty right now. If it’s really any other coverage group or product group then steer clear if you’re exit focused. Wells IG DCM is strong but it’s dcm so you won’t be exiting strongly.
It seems like the difference between UBS and DB is very group specific like a shit group at DB would be worse than LevFin/Sponsors at UBS and vice versa.
Also this job blows so also factor in where you like the people cause if you choose UBS Industrials cause you may have marginally better decent exits than DB industrials (solely illustrative I know nothing about those groups), you’re going to regret it because you gotta live with it for 2 years and exits aren’t going to be drastically different between these banks outside of select groups.
2nd yr anl at wf - came in for ft and can confirm. placement is way easier than sa
Thoughts on WF TMT NYC or WF Public Finance?
e&p has struggled lately and can be rough from an hours/culture standpoint which is why 70% of the bullpen bailed
That’s what I’ve heard too. It’s pretty odd though given that they’ve been on some of the largest E&P deals this year
can u pm me? (Incoming SA)
Thoughts on Wells M&A?
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