Which IB or Boutique has a clear focus on Capital Markets? (and not on M&A)

Hey Monkeys :)

I am from Europe and I am searching for a full-time analyst position within the Global Capital Markets departments.

But there is also the problem. As I was looking through the big ones (a JP, MS, GS, etc) - of course I identified that they have some positions within the capital markets. But to be honest, I don't know if I am the one they are looking for and if my profile is competitive enough. So I expanded my search onto smaller banks (like RBS, RBC, Jefferies). They still have some capital markets jobs outstanding but I could clearly identify that their focus is often on the investment banking - M&A department...a sector I am not interested in.

So, to make a long story short. I am looking for boutiques or smaller banks which have a strong focus on capital markets (esp. debt capital markets as that is the area I want to work in)

Can you help me? Input is much appreciated

Best regards,

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Comments (6)

Best Response
Sep 5, 2012 - 9:42am

The "smaller" banks you listed like RBS, RBC, and Jefferies (to an extent) would be your best bet outside of JPM, BAML, DB, MS, GS. The thing is, to have strong capabilities in capital markets like syndicated and leveraged finace, the bank needs to have a robust balance sheet that can support the underwriting of large investment grade loans and medium-sized leveraged debt. This, for a large part, is why JPM and BAML are the traditional #1 and #2 powerhouses in the DCM or "Loan Capital Markets" space.

Smaller banks, and especially boutiques, simply don't have the balance sheets to compete with the big boys in capital markets (M&A or Private Placements is another story).

If I were you, I would also look into CIBC, CIT, BB&T, PNC, Tokyo-Mitsubishi, Mizuho, Nomura, SunTrust, BMO. These banks, while smaller and more conservative in lending, have substantial capital markets capabilities for the middle-market space.

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