What exactly do these international J Banks do in IB?
Going into college soon and am looking into a lot of banks, trying to just get to know about opportunities and differences in IBD. Obviously, there's the BB and EB and all that, but what about the international banks. I know the Euro banks don't do too hot. I've heard about Japanese banks like MUFG/Mizuho/Nomura and banks like that that are moving to US but can't really see any deals there. What do investment bankers do there? Is it significantly different from BB/EB? Would going there be really bad for exit opps like for PE or HF because at the end of the day it's still banking? Also how is the pay there and bonuses? Sorry if I sound naive I've tried to learn about it online and didn't know much so hopefully people here more experienced can tell me more about it.
Can’t comment on pay or exit opps, although I’d expect them to be weaker. On deals I see MUFG fairly often because of the MS partnership (they bought a stake in ‘08), this is in corporate banking. The Japanese banks have big balance sheets they can flex so they’re best in corporate banking and project finance, also see them as co-managers in DCM. The same is true for most European banks (ex-Barcap, CS, UBS and DB). They’ll have a niche be it esoteric structured products (the French) or trade finance (the Brits ex-Barcap).
Hm, they're starting to distinguish Corporate Banking from Investment Banking in Japanese banks. Do they do actual M&A (maybe cross-border? Idk?) and stuff or is this just a fictitious job they created?
Also regarding Euro banks how are the exit opps for that?
If you look at Mizuho Americas, their services include: Investment Banking + Advisory; Crossborder M&A; both of which are listed under Advisory + Solutions. However under financing they list: Corporate Finance; Syndicated Finance; Project Finance; Latin American Finance; Trade Finance; Lease Finance; Securitization and Japanese Corporate Finance. Obviously most of those are capital markets services, which is indeed IB and it makes sense that they are bigger in those balance sheet driven spaces.
Exit opps from the non-BB euro banks vary, however for traditional M&A they tend to be weaker than BBs and even many MMs, but that is firm dependent.
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