Bank Of America Investment Banking Groups

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D.A. Davidson & Co. Technology Investment Banking Group Crosses $20 Billion in Technology…

Bank of America and BofA Securities are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation , including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.

Best Turnaround: Morgan Stanley

With roots going back to 1935, Morgan Stanley is another major investment bank in the U.S. While it doesnt make it into the trillion-dollars-in-assets club, it holds a respectable $781 billion and falls squarely in the too big to fail banking stable. The current Morgan Stanley operation came about in 1997 with a merger creating Morgan Stanley Dean Witter Discover & Co. The name went back to simply Morgan Stanley in 2001.

The international investment bank operates three main divisions: institutions securities, wealth management, and investment management. The wealth management division services individual investors. Much of this division came from the acquisition of Smith Barney, which had previously acquired the famed investment bank Salomon Brothers.

Like other major investment banks, Morgan Stanley offers a suite of services for large businesses, including mergers and acquisitions, advising, IPOs, restructurings, and lending. The firm struggled during the 2008 financial crisis and was among the largest recipients of TARP funds from the government during that tumultuous era for financial companies. It turned itself around after 2008 and today lives up to the long history as a leader in corporate buyouts.

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Recruiting Into Consumer Retail Investment Banking

Investment banking project on Bank of America

The consumer retail group is tied with the industrials group as the generalist king, which means there are no special entry requirements.

Its the same IB recruitment process as always, which you should know from all the other articles on this site.

At the MBA level, a pre-MBA background at a consumer retail company helps, but this matching background is probably less important than in a more specialized industry, like energy.

One other note is that there are quite a few boutique banks that specialize in consumer retail or have significant exposure there.

Many of these markets are so fragmented with so many small companies and startups that theres a big opportunity for boutiques to advise on deals.

Yes, the bulge brackets and elite boutiques dominate the biggest deals, but unlike a sector such as telecom, plenty of smaller deals still occur.

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The Sites do not constitute a solicitation to enter into a transaction involving financial instruments, is not being distributed in the context of a public offer in France within the meaning of Article L. 4111 of the Monetary and Financial Code, and has thus not been submitted to the COB for prior approval and clearance procedure. Any offers, sales or distribution of financial instruments through the Sites shall only be made in France to qualified investors as defined in and in accordance with Article L. 411-2 of the Monetary and Financial Code and d?cret no. 98880 dated 1st October, 1998. The contents of the Sites may not be redistributed or reproduced by any User. The Sites are made available with the understanding that Users will make investment decisions for their own account with the conditions set out in d?cret no. 98880 dated 1st October, 1998. By using the Sites, Users undertake not to transfer, directly or indirectly, any financial instrument acquired through the Sites to the public in France, other than in compliance with applicable laws and regulation. Services hereunder may be provided by Banc of America Securities, Limited, as agent or otherwise.

Is The Consumer Retail Investment Banking Group Right For You

Since consumer retail investment banking spans a wide range of industries and gives you exposure to all deal types, its hard to point to any real downsides.

You wont get pigeonholed by working in the group, and although some verticals within it are economically sensitive, plenty of others are not.

Therefore, even if deal activity in one area falls off a cliff, you could become busier by moving to another team within the group.

The main downside is that banks are strong in different verticals, and there isnt necessarily a way to discern your groups strengths before you sign an offer.

So, dont join the consumer retail group expecting that youll instantly become an adviser to EV companies and buddies with Elon Musk.

You could easily end up advising discount retailers or toilet paper companies.

And youll be a great generalist, but you might not feel like a king.

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Bank Of America Wealth Management Businesses Receive Multiple Industry Accolades For Digital Innovation

Merrill Lynch Wealth Management and Bank of America Private Bank Recognized by Aite Group, Professional Wealth Management and WealthManagement.com

Bank of America today announced that its wealth management businesses, including Merrill Lynch Wealth Management and Bank of America Private Bank, have been recognized by three industry organizations for digital innovation and leadership. Today, 80% of the companyâs wealth management clients are actively using digital for more of their needs, and adoption continues to accelerate. These recent awards recognize digital solutions and strategies that deliver best-in-class client and advisor experiences and drive responsible growth.

âWeâre honored to be recognized by these top industry organizations,â said Andy Sieg, president of Merrill Lynch Wealth Management. âWeâre going through a digital revolution in wealth management. Advisors and clients alike have fully embraced the ease and convenience of digital engagement. This has caused the industry to accelerate technology that enables advisors to be more present in their clientsâ lives, removes the limits to growth, and further transforms the way we do business.â

Recent industry awards include:

  • Technology for the Client Engagement Workstation.
  • Technology Disruptors for its Redefining Wealth Planning tool.3

Industrials Investment Banking League Tables: The Top Banks

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Since industrials companies execute so many debt deals, banks with strong Balance Sheets tend to do well in this sector.

Look at the U.S., European, and global league tables, and youll see firms like Bank of America Merrill Lynch , JP Morgan , Citi , and Credit Suisse near the top.

Goldman Sachs is often in the #1 spot in this sector even though its less of a commercial bank than the others.

In terms of middle-market and boutique firms, Lazard, Lincoln, and Baird often do well.

Specific groups at other firms, such as Houlihan Lokeys Aerospace & Defense group in Washington, D.C., are also well-known in this sector.

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    Every day, we work with companies facing challenges and opportunities. The specific needs vary timings differ. Yet, our clients have a common need a desire to work with a bank that understands whats essential not just for today but for the long haul. We advise and tailor solutions to help meet long- and short-term goals.

    With local knowledge and a global perspective, we make it our business to know what’s happening, and what’s possible. We’re here to connect you with what it takes to help achieve your vision.

    Before We Continue Download The Ib Salary Guide

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    What is a bulge bracket bank and what are the different bulge bracket banks?

    Bulge bracket investment banks are the worlds largest and most profitable multi-national full-service investment banks. These banks cover most or all industries and most or all the various types of investment banking services. There is not really an official list of bulge bracket banks, but the banks below are considered bulge bracket by Thomson Reuters.

    J.P. Morgan, Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank, and UBS.

    What is a boutique bank?

    Any investment bank not considered bulge bracket is considered boutique. Boutiques vary in size from a few professionals to thousands and can generally be categorized into three different types:

  • Those that specialize in one or more products like M& A and restructuring. Well-known M& A boutiques include: Lazard, Greenhill, Evercore, and Gleacher
  • Those that specialize in one or more industries like Healthcare, Telecom, Media, etc. Well-known industry-focused boutiques include: Cowen & Co. , Allen & Co. , and Berkery Noyes
  • Those that specialize in small or mid-sized deals and small or mid-sized clients . Prominent middle market investment banks include: Houlihan Lokey, Jefferies & Co., William Blair, Piper Jaffray, and Robert W. Baird
  • What are the different types of groups within an investment bank?

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    Content And Service Availability

    Bank of America or its Affiliates may make changes to the Sites and reserves the right to do so without prior notice to you. Client acknowledges that not all products and services listed or discussed in the Sites are available in all geographic areas. Your eligibility for particular products and services is subject to final determination and acceptance by Bank of America or its Affiliates.

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    Our members are large and small, national and regional, domestic and international, corporate and mutual, retail and wholesale, physical and virtual, banks and non-banks. The customers of our members are individuals, corporates, charities, clubs, associations and government bodies, served domestically and cross-border. These customers access a wide range of financial and advisory products and services, essential to their day-to-day activities.

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    Associate Investment Banking Financial Sponsors Group

    Job Description:

    Business Overview

    Our Global Corporate & Investment Banking business focuses on building long-term relationships with more than 3,000 large U.S. and multinational corporations, financial institutions and financial sponsors. We provide strong advisory expertise, capitalizing on powerful mergers and acquisitions, corporate banking, treasury, debt and equity product expertise to deliver integrated financial solutions.

    The Financial Sponsors Investment Banking Group provides financial and advisory solutions to private equity clients across the globe. As an associate in the team you would play a critical role in leading the execution of strategic advisory and capital market transactions globally.

    The Financial Sponsor Group is a leader in the industry, driving landmark transactions for our clients. Our practice in San Francisco has executed some of the largest and most complex private equity-led transactions in recent years across a broad industry landscape including technology, software, healthcare, industrials and business services.

    Job Description

    Key tasks and responsibilities may include but are not limited to:

    • Play a key role supporting origination, opportunity evaluation and deal execution, working on abroad scope of assignments and products across various industries.
    • Team members work closely with senior bankers in day-to-day client coverage and are expected to make an immediate contribution

    Qualifications

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    Higher Education And Research

    William Cohan Discusses Bank of America Profit, Outlook: Video

    More than 600,000 students are enrolled in New York City’s more than 120 higher education institutions, the highest number of any city in the world, with more than half a million in the system alone as of 2020, including both degree and professional programs. According to , New York City has, on average, the best higher education institutions of any .

    Much of the in the city is done in medicine and the . New York City has the most postgraduate life sciences degrees awarded annually in the United States, with 127 having roots in local institutions as of 2005 while in 2012, 43,523 licensed physicians were practicing in New York City. Major biomedical research institutions include , Rockefeller University, , , , and , being joined by the / venture on . The graduates of in the Bronx earned the highest average annual salary of any university graduates in the United States, $144,000 as of 2017.

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    What Do Investment Banks Do

    As we’ve mentioned at the beginning of our article, investment banks are not the same as commercial banks since they offer a whole range of unique services in addition to basic banking operations, for example:

    • an investment bank can act as a broker it provides intermediary services in trading securities, raw materials, currency and carries out derivative trades
    • it also conducts analytics for all the markets it trades
    • it provides consulting services in the sale and purchase of business and securities
    • it conducts market research and provides underwriting services
    • it provides capital inflow in the financial market for large corporations and government needs.

    An investment bank also allows you to create savings and checking accounts, carry out currency exchange operations, and even gives you an opportunity to establish business credit.

    The numerous functions of an investment bank can be categorized into five main groups:

    • analytical
    • consulting
    • expert
    • organizational dealer .

    Interestingly enough, investment banks have their classification based on their size. And the “size” in this case includes several factors: the average amount of trades made, the number of offices an investment bank has, and the number of employees. Based on this characteristic, there are four types of investment banks: regional boutique banks, elite boutique banks, middle-market banks, and bulge bracket investment banks.

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