Bank Bios

Barclays

Website: https://www.home.barclays/

Investment Banking: https://www.investmentbank.barclays.com/

Career Page: https://www.home.barclays/careers/barclays-structure/investment-bank.html

 

Overview: Barclays is a global full-service investment bank based in London. Barclays was founded in 1690, and it is separated into Barclays UK and Barclays Corporate & International. Under Barclays UK sits the banks’ retail banking and small business corporate banking divisions serving over 22 million retail customers. Under Barclays Corporate & International sits its investment bank, credit card, and wealth management divisions. Barclays made a move to grow its investment banking division in the United States through the fire sale acquisition of Lehman Brothers. Since the acquisition, Barclays has been able to significantly grow its United States investment banking operations. Similar to Credit Suisse, Barclays is in a unique position as a leading commercial bank in Europe and investment bank in the United States. The bank’s base in London gives it a significant advantage in European advisory and lending.

Heard on the Street*: Barclays is both one of the world’s largest retail banks and investment banks. After its acquisition of Lehman Brothers, the investment banking division has seen a great deal flow and has been able to recruit great talent. Another interesting thing about Barclays is that most industry groups run their own M&A and debt deals. Therefore, if you know you want to be in an industry group, this is one of the better banks to be at.

Recently, some of the stronger groups have been Power, Natural Resources, Healthcare, and Financial Sponsors. From a buy-side recruiting perspective, Barclays offers strong deal flow that will set an analyst up to competitively recruit for jobs on the buy-side.

 

*Disclaimer: This section is solely an aggregation of individual opinions from bankers who have worked at the firm in the last five years. Please note that these opinions vary from person to person and can change over time. They should not be used as a conclusive overview of the bank’s culture and operations. We recommend that all readers do their own research by getting to know the bank through thoughtful conversations with current employees.

Bank of America Merrill Lynch (BAML)

Website: https://www.bofaml.com/content/boaml/en_us/home.html

Investment Banking: https://www.bofaml.com/en-us/content/global-corporate-investment-banking.html

Career Page: https://www.bofaml.com/en-us/content/careers.html

 

Overview: Bank of America Merrill Lynch was formed when Bank of America Corporation acquired Merrill Lynch during the financial crisis in 2008. This acquisition immediately brought together a strong commercial bank (Bank of America) with a strong investment banking advisor and wealth manager (Merrill Lynch). Today, BAML is a global leader in financial services with an extremely strong investment and a commercial bank. As a result, BAML is a very active lender in both the debt and equity markets, and it complements its lending capabilities with strong M&A advisory expertise. In addition to investment banking, BAML is a strong player in sales and trading, equity research and asset management divisions.

Heard on the Street*: BAML is a great bank to work for because of its strength in both M&A advisory and financings. Depending on your group, as an analyst you will benefit from a wide variety of M&A deals (sell-side and buy-side) and / or financing deals (both debt and equity capital markets). BAML’s strongest groups over the most recent years have been Mergers and Acquisitions and Leveraged Finance on the product side, and Industrials, Real Estate, Gaming and Lodging on the industry side. BAML also has a very strong Technology team based in Palo Alto that distinguishes it from competitors.

From a cultural prospective, BAML has maintained a scrappy culture that does not take on a superstar mentality. Junior level people get great access to senior level people, and the bank if known to have a rewarding and collegial culture.

 

*Disclaimer: This section is solely an aggregation of individual opinions from bankers who have worked at the firm in the last five years. Please note that these opinions vary from person to person and can change over time. They should not be used as a conclusive overview of the bank’s culture and operations. We recommend that all readers do their own research by getting to know the bank through thoughtful conversations with current employees.

Credit Suisse

Website: https://www.credit-suisse.com/us/en.html

Investment Banking: https://www.credit-suisse.com/us/en/investment-banking.html

Career Page: https://www.credit-suisse.com/us/en/careers/career-opportunities.html

 

Overview: Credit Suisse is a global full-service investment bank based in Switzerland. Credit Suisse was founded in 1856, and today it has operations in over 50 countries. Credit Suisse recently hired Tidjane Thiam as its new CEO who is set with resetting the banks strategy. As a result, Credit Suisse now defines itself as “A leading global private bank and wealth manager with distinctive investment banking capabilities”. Credit Suisse is in a unique position as a leading commercial bank in Europe and investment bank in the United States. This gives the bank a truly global presence. As a result, Credit is both a strong lender and advisor to its clients. In addition to investment banking, Credit Suisse offers strong sales and trading, equity research and wealth management divisions.

Heard on the Street*: Credit Suisse has shifted its focus to private banking and wealth management with new CEO Tidjane Thiam, but the investment bank still remains extremely productive. Credit Suisse is able to leverage its global presence to differentiate itself from other similar investment banks, and its private bank provides it with the balance sheet to compete as a lender. Credit Suisse gives junior level people the opportunity to advance quickly with a fast track associate process and also allows its employees to explore different offices and product lines. Some of Credit Suisse’s strongest investment banking groups are considered to be Financial Sponsors, Mergers and Acquisitions, Health Care, Retail / Consumer and TMT.

One thing to keep in mind is that private equity deals run through Financial Sponsors group, and most sell-side mandates run through M&A.  As a result, the majority of modeling is done by these groups.

Overall, the bank has a very supportive culture and also, if you work in the New York office, being located next to Shake Shack in Madison Square Park is a big plus.

 

*Disclaimer: This section is solely an aggregation of individual opinions from bankers who have worked at the firm in the last five years. Please note that these opinions vary from person to person and can change over time. They should not be used as a conclusive overview of the bank’s culture and operations. We recommend that all readers do their own research by getting to know the bank through thoughtful conversations with current employees.

Goldman Sachs & Co.

Website: http://www.goldmansachs.com/

Investment Banking: http://www.goldmansachs.com/what-we-do/investment-banking/index.html

Career Page: http://www.goldmansachs.com/careers/index.html

 

Overview: Goldman Sachs & Co is a leading global full-service investment bank and financial services firm. Goldman Sachs was founded in 1869 as a partnership, and the banks partnership culture echoes throughout its operations today. Within investment banking, Goldman Sachs is known for an extremely strong M&A advisory. In addition to investment banking, Goldman Sachs boasts strong assets management, sales and trading and equity research platforms.

Heard on the Street*: Goldman Sachs is known to be one of the most competitive investment banks to recruit at. The bank is structured in a way that industry groups do their own M&A work. This is extremely beneficial for the junior bankers because Goldman usually leads the M&A league tables and gives its analysts great exposure to a wide variety of marquee deals. While all of Goldman’s investment banking groups are known to be extremely strong, Goldman’s Technology, Media and Telecommunications and Financial Institutions Groups are often spoken about as some of the best groups across all of Wall Street.

Goldman is known for its collaborative and supportive culture. The company goes out of its way to make sure that its employees are treated fairly. Goldman was the first bank to instate many practices that protect its junior employees. Some examples include no-work Saturdays, limited number of pages for non-deal books, and mandatory two-week vacation policy. Also, all Goldman analysts are hired as full-time employees (vs. being hired on a 2-year contract basis).

 

 

*Disclaimer: This section is solely an aggregation of individual opinions from bankers who have worked at the firm in the last five years. Please note that these opinions vary from person to person and can change over time. They should not be used as a conclusive overview of the bank’s culture and operations. We recommend that all readers do their own research by getting to know the bank through thoughtful conversations with current employees.

J.P. Morgan

Website: https://www.jpmorgan.com/country/US/en/jpmorgan

Investment Banking: https://www.jpmorgan.com/country/US/EN/cib/investment-banking

Career Page: http://careers.jpmorgan.com/careers/home

 

Overview: J.P. Morgan is a global leader in financial services with extremely strong investment and commercial banks. Unlike Morgan Stanley and Goldman Sachs, J.P. Morgan’s commercial and consumer bank allow the bank to utilize the cash on its balance sheet for lending purposes. As a result, J.P. Morgan is a very strong lender is both the debt and equity markets and complements its lending capabilities with strong M&A advisory. In addition to investment banking, J.P. Morgan offers strong sales and trading, equity research and asset management divisions.

Heard on the Street*: J.P. Morgan’s large balance sheet gives it strong opportunities in leveraged lending complemented by M&A advisory. This is a key difference to Morgan Stanley and Goldman Sachs that have very strong M&A advisory that is complemented by capital markets lending. All of J.P. Morgan’s investment banking groups are known to be very strong, but some of the strongest ones include M&A, Leveraged Finance, TMT, Healthcare, and FIG.

J.P. Morgan has one of the best brand names on Wall Street and despite its size, has proven to be more stable than some of its peers. J.P. Morgan is another bank that will compete for almost every deal that comes across the street. From a junior perspective, analysts can expect a great amount of deal flow in just about any group they join.

It is also important to note that there are a lot of J.P. Morgan “lifers” who really love the company. If you do well and want to grow within a firm, it is likely that the firm will find roles for you to advance / get more experience.

 

 

*Disclaimer: This section is solely an aggregation of individual opinions from bankers who have worked at the firm in the last five years. Please note that these opinions vary from person to person and can change over time. They should not be used as a conclusive overview of the bank’s culture and operations. We recommend that all readers do their own research by getting to know the bank through thoughtful conversations with current employees.

Morgan Stanley

Website: http://www.morganstanley.com/

Investment Banking: http://www.morganstanley.com/what-we-do/investment-banking

Career Page: http://www.morganstanley.com/people-opportunities/students-graduates/programs/

 

Overview: Morgan Stanley is a leading full-service investment and financial services firm. Morgan Stanley was founded in 1935, and handled $1.1 billion in public offerings and private placements in its first year. Morgan Stanley is still known today to have an incredibly strong equities division that complements a strong investment banking practice focused on M&A advisory and equity offerings. In addition to investment banking, Morgan Stanley has strong asset management, sales and trading and equity research platforms.

Heard on the Street*: Morgan Stanley is another top investment bank for undergrad and MBA students alike. While it is often seen as a peer to Goldman Sachs, one key difference is that Morgan Stanley has a very strong M&A group, leaving the industry groups to focus more on in-depth industry analysis rather than M&A execution. All of Morgan Stanley’s investment banking groups are known to be extremely strong, but Technology, Media and Telecommunications, Global Power and Utilities, and M&A are some of the best groups at the bank. Morgan Stanley tends to have a strong company culture and manageable hours compared to some of its boutique peers.

In general, Morgan Stanley is an elite investment bank. The firm’s strong M&A and equities practices make it a contender for almost every deal that comes across the street. From a junior perspective, working for Morgan Stanley will provide you with a great deal experience and, if it’s in your interest, will open doors for some of the best buy-side jobs in the industry.

 

*Disclaimer: This section is solely an aggregation of individual opinions from bankers who have worked at the firm in the last five years. Please note that these opinions vary from person to person and can change over time. They should not be used as a conclusive overview of the bank’s culture and operations. We recommend that all readers do their own research by getting to know the bank through thoughtful conversations with current employees.

UBS

Website: https://www.ubs.com/us/en.html

Investment Banking: https://www.ubs.com/global/en/investment-bank.html

Career Page: https://www.ubs.com/global/en/about_ubs/careers.html

 

Overview: UBS is a global full-service investment bank based in London. UBS is headquartered in Zurich, Switzerland and has offices in 54 countries with 34% of employee in the Americas, 35% in Switzerland and 31% around the rest of the world. Like its European counterparts, UBS prides itself on its global presence and strong advisory and capital markets in European markets. UBS remains competitive through a strong sales and trading division that provides opportunities for equity capital markets, M&A, and traditional industry investment banking groups. UBS also has a strong presence in equity research and wealth management.

Heard on the Street*: UBS is definitely a place where if you work hard, you will be rewarded.

The bank has a strong Leveraged Finance and Financial Sponsors group. Additionally, TMT, Healthcare and Industrials tend to work on some of the most interesting deals in the bank.

UBS also has an award winning sales and trading practice that leads to capital markets strengths within the investment bank.

A candidate should choose UBS for its strong internal culture and overall reputation across the street. There is a strong alumni base across the globe and the bank offers good opportunities to explore global positions if that’s in your interest. Famous names such as Ken Moelis, Ben Lorello, and Chris Abbate came out of UBS.

 

*Disclaimer: This section is solely an aggregation of individual opinions from bankers who have worked at the firm in the last five years. Please note that these opinions vary from person to person and can change over time. They should not be used as a conclusive overview of the bank’s culture and operations. We recommend that all readers do their own research by getting to know the bank through thoughtful conversations with current employees.

Evercore

Website: http://evercore.com/

Investment Banking: http://evercore.com/Investment-Banking

Career Page: http://evercore.com/careers

 

Overview: Evercore is a relatively new elite boutique investment banking advisory firm founded in 1995. Since its inception, Evercore has advised on over $2.0 trillion in transactions worldwide. Evercore divides its business into two divisions (i) Investment Banking Advisory Services and (ii) Investment Management Services. Within Investment Banking Advisory Services, Evercore operates extremely strong M&A advisory and Restructuring advisory practices in addition to an equity research platform that is known to be one of the best across the street. Evercore focuses its advisory services on the world’s largest and most complex transactions and is known to be very strong in Media and Telecom.

Heard on the Street*: Over the past 5-10 years, boutique investment banks have been gaining market share in an industry once dominated by the bulge bracket investment banks. Evercore has taken advantage of this trend and vaulted itself to be one of the best investment banks across the street. Evercore’s strategic advisory focus allows the bank to provide an unbiased opinion to all of its clients.

As a junior banker at Evercore, you can expect an intense culture, an extremely technical experience and some of the best exit opportunities on the street. Evercore will provide you with a strong deal flow and great skillset for the buy-side opportunities.

 

*Disclaimer: This section is solely an aggregation of individual opinions from bankers who have worked at the firm in the last five years. Please note that these opinions vary from person to person and can change over time. They should not be used as a conclusive overview of the bank’s culture and operations. We recommend that all readers do their own research by getting to know the bank through thoughtful conversations with current employees.

Lazard

Website: https://www.lazard.com/

Investment Banking: https://www.lazard.com/businesses/financial-advisory/

Career Page: https://www.lazard.com/careers/

 

Overview: Lazard is a public elite boutique investment bank and an asset manager. Lazard divides its business into two divisions (i) Financial Advisory and (ii) Asset Management. Within financial advisory, Lazard operates an extremely strong M&A advisory and Restructuring advisory in addition to a few other investment banking services. This interaction between M&A advisory and Restructuring keeps Lazard insulated from large economic swings (i.e. when the economy is strong, M&A advisory practice does a lot of deals, and when the economy is weak, Restructuring practice has a lot of work to do). Lazard serves as a strategic advisor to some of the world’s largest companies, and Lazard Middle Market is a separate entity that advises middle market clients.

Heard on the Street*: Over the past 5-10 years, boutique investment banks have been gaining market share in an industry once dominated by the bulge bracket investment banks. Lazard has been the beneficiary of this trend and even led boutique through its superior outcomes for clients. Although Lazard has very limited lending capabilities, the bank values its simplistic business model and angles to be an unbiased opinion to clients.

As a junior banker at Lazard, you can expect a hard-working culture, lean deal teams, and an extremely technical experience. Lazard will give you the ability to work on meaningful transactions with an extremely small number of people.

 

*Disclaimer: This section is solely an aggregation of individual opinions from bankers who have worked at the firm in the last five years. Please note that these opinions vary from person to person and can change over time. They should not be used as a conclusive overview of the bank’s culture and operations. We recommend that all readers do their own research by getting to know the bank through thoughtful conversations with current employees.

Moelis & Co.

Website: http://www.moelis.com/

Career Page: http://www.moelis.com/careers/

 

Overview: Moelis and Company (Moelis) is an elite boutique investment bank that was founded in the middle of the financial crisis by Wall Street veteran Ken Moelis. Moelis offers unconflicted strategic advice to its clients. The company is primarily known for its expertise in M&A and Restructuring. As one of the fastest growing firms across the street, Moelis is highly regarded for its independent advice.

Heard on the Street*: Moelis is another elite boutique investment bank that has benefited from the bulge bracket’s loss of market share during the financial crisis. Moelis is known to have extraordinarily small deal teams and extremely high deal flow. This gives junior members of the bank a large number of experiences to learn from.

As a junior banker at Moelis, you can expect some of the most intense hours on street with some of the best experiences. Moelis analysts typically have great exit opportunities and are known for their strong technical experience. If you are willing to put up with tough hours, the access to senior members of the firm, deal flow, and exit opportunities make it all worth the time.

 

*Disclaimer: This section is solely an aggregation of individual opinions from bankers who have worked at the firm in the last five years. Please note that these opinions vary from person to person and can change over time. They should not be used as a conclusive overview of the bank’s culture and operations. We recommend that all readers do their own research by getting to know the bank through thoughtful conversations with current employees.