How do you characterize banks like Wells Fargo/UBS/Mizuho/RBC etc.
Looking at summer internships at some of the bigger banks and was wondering how you would characterize these large balance sheet banks like Wells Fargo/UBS/Mizuho/RBC etc? I hear these firms have both balance sheet and M&A capabilities which is unique, but not sure if they're considered BB or not. Seems to be a great all around experience from what I've read on here.
Definitely different than banks like Jefferies and also different than large M&A advisors like GS/MS. Also, how do you recommend breaking in given the crazy number of applications at these large banks. Just curious to hear some overall thoughts.
Thanks!
https://www.mergersandinquisitions.com/boutique-middle-market-bulge-bra…
Interesting, thanks for that
Very useful post! Btw anyone here has an idea of comp at IBABs? How much do associates in a debt team (DCM / levfin) get all-in?
I've only heard about IB comp. Associates can pull in 230k-250k at these banks usually.
To be honest, I wouldn't put Wells Fargo, UBS, Mizuho, or RBC in the same category.
UBS is generally considered a BB, albeit not to the same extent that the US banks like JP Morgan or Goldman are. Being Swiss, it's predictably got a very strong asset management / wealth management division and has been a decent player in M&A the past few years. It used to have a stronger trading arm (in Europe, at least), however this has been "strategically de-emphasised" the past few years.
Wells Fargo is what I'd term "a universal bank" - it has a huge balance sheet, so can support all the core (and, to a large extent, auxiliary) IB functions. That said, because of its broad service offering, it isn't considered a speciality / elite player in the same vein that BBs are.
Mizuho and RBC fall into the size bucket below. Both have a more geographically concentrated focus and less balance sheet, however tend to be very solid operators in their main competencies. This is especially the case for RBC: I'm less familiar with Mizuho, however I know that RBC gets decent M&A deal flow and is a very efficient trader. RBC also has a better presence outside of its main geography (North America), whereas Mizuho is still heavily Japan-focused.
.
Ipsam sequi nisi cupiditate. Iste sint numquam dolores vel quia maxime. Error quia cupiditate exercitationem ea excepturi sint officia soluta.
In eius sit voluptate nulla delectus aut quis. Rem similique quia dolores corrupti et dolores amet. Et veritatis at sed et vel. Atque ducimus perspiciatis aut maxime minima eveniet quis rerum.
Quo et voluptatum adipisci repellat sequi. Amet itaque blanditiis distinctio. Qui molestiae impedit qui et fuga dolorum.
Quis quia perferendis laboriosam quod repellat nisi. Ad explicabo quis tenetur quia eaque.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...