Who would acquire CS US IB division?

if the US banking arm ofCSis acquired by another bank, who would it most likely be bought by? Would it make sense for aBBfirm likeGSto acquireto获得CSlevfin/FSGplatform which is top of street? Or does it make more sense for a bank like Truist to acquire to expandIBcapabilities.

不确定哪个更有意义,因为我假设获得IBarm in US would be cheap for any other bank either way. Could also be a forcedmerger in whichcase who knows what bank would be involved.

Comments (55)

5mo
high hopes, what's your opinion? Comment below:

bump

no chance you're bumping this if you work at Oaktree - answers are obvious to anyone who's worked at US banks

  • InterninIB - Cov
5mo

Jefferies could bea contender. I mean they've already hired a lot ofCS专业人士,为什么不购买全部IBdivision to seal the deal LMFAOOOO

  • 2
  • 1
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  • InterninIB - Gen
5mo

Head ofIBat Wells is ex-CS guy so wouldn't be surprised

  • 1
  • Associate 2inPE - LBOs
5mo

CapitalOne is the most likely, they specifically mention it as part of their strategy. Didn'tthey buy KippsDeSantoas well?

  • InterninIB - Gen
5mo

Yeah

5mo
ajsoqkaks, what's your opinion? Comment below:

Probably dilutive for a top bank likeGSor MS to take on the entire team, especially with people leaving, and its balance sheet given the lower profitability, makes more sense for a bank where it would move the strategic needle significantly

Array

  • InterninIB - Cov
5mo

I would love to seeGS/MS/JPMacquire EVR/Centerview/PJT。造雨人EBpartners with the backing of a堡垒balance sheet would be amazing to see.

  • 3
  • Analyst 1inIB-M&A
4mo

Yeah bc ChaseJP摩根听起来很恐怖

  • InterninIB - Cov
5mo

What isCSIB值得资产明智吗?井的价格为$ 1.88TNtheir latest 10Q。I'm assumingCSIBwould be way below the remaining $120Bn if it's justIBadvisory. Would it include CS's securities too?

  • InterninIB - Gen
5mo

Lol this girl in my class saidCSand UBS应该合并。当我问她为什么时,她说:“他们俩都是瑞士人BBbanks" and provided no other rationale.

  • InterninIB - Gen
5mo

Sure, and I wouldn't doubt that, but maybe her backing up her thoughts with something more than "they'reboth SwissBBs“将更具吸引力。

  • InterninIB - Gen
5mo

I did share my perspective with her and the other member in my group (who was curious to hear what happened but didn't jump the gun like the first group member I was initially referring to). And as per your smart-ass comment - yes, I also posted on an anonymous forum, as you can clearly fucking see.

5mo
Dr. Rahma Dikhinmahas, what's your opinion? Comment below:

什么时候Barclays买了雷曼,他们几乎没有为实际的业务支付任何费用。几乎所有这些都是用于建筑物和书籍中的证券。

That makes sense to me because as bank leaders are fond of saying, the assets go down the escalator every night. There isn't a lot to buy.

巴克莱支付的主要原因something(not much) for the business was that there was strategic value in quickly becoming a real player in the US. I don't know which foreign banks are looking to do that.野村和SMTBare pretty far along I think, but maybe they'd have some interest.

  • 1
  • PMinHF-其他
5mo

No one.

You just need to poach high performing MDs.

MDS将带来高质量的AN/与他们一起填补排名。

  • 2
5mo
Rags to Hermes, what's your opinion? Comment below:

如果有人会买CSit would be UBS and it would be for the synergies in wealth management andasset managementnotIB。- UBS #1 in global wealth assets acquiring #3 in global wealth assets with lot's of overlap in geographies. Merging wealth and asset management platforms should provide plenty of synergies. The asset mgmt. and wealth businesses are stickier and less volatile. Both of these businesses benefit immensely from scale.IBwas only 30% of UBS op income in 2021 in a year where the department obviously was overearning so it's not as big as you probably think to the overall company as wealth/asset mgmt were most of the rest of op income. Probably makes sense to consolidate both IB's and ER's into each other taking best teams/aspects from each. Obviously can cut alot of back officeand close duplicative office. HQ's in Switzerland are next door to each other and Swiss execs are probably friendly with each other, Zurich is not a big place, metro size puts it just in top 40 US metros so the execs and Swiss likely want to keep as many jobs in Zurich as possible which has better chance of happening this way.... I think it makes sense qualitatively but I haven't done a deep dive.

  • Analyst 1inIB - Cov
5mo

我同意瑞银是最有道理的。全球许多财富管理协同作用,可以创建一个流线型IBfocused onFSG/M&A/LevFin with big cuts tosales and tradingfunctions. Swiss government has been encouraging the merger for some time - would create one giant Swiss banking behemoth

  • Analyst 1inIB-约束
5mo

没有从CSexecs. been to streamline the business and focus on that WM business though? I'm not sure that selling outright is as much of a focus for CS: it may not be at a stage where management is ready to throw the towel.

5mo
Unitranche Terry, what's your opinion? Comment below:

他们只会偷猎MD。鉴于当前的市场状况,没有银行会考虑购买资产负债表。

  • 1
  • InterninIB - Gen
5mo

Literally this

  • Investment AnalystinHF - Event
5mo
Unitranche Terry

Bloomberg has turned into the New York Post so that news article is a nonstarter.

Ironically, NYPost actually gets a lot of阿波罗相关的勺子由于某种原因,您实际上是在说在这种情况下它可能是相当高的质量。

  • Analyst 1inIB - Gen
5mo

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5mo
Laser44, what's your opinion? Comment below:

Ullam Nemo tuerma挥发了Quia。Nihil ducimus Minus rem Impedit aliquam qui voluptatem。Perspiciatis Enim Dolores Aut Sit Soluta ID。

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  • Analyst 1inIB - Gen
4mo

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