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Top 10 Best Nig. Investment Banks In This Meltdown Period? - Investment - Nairaland

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Top 10 Best Nig. Investment Banks In This Meltdown Period? by TCann(m): 8:08pm On Jun 05, 2009
Hi guys,

The public attention has been on the commercial banks since the inception of the global meltdown regarding the economic health status of Nigeria,but come to think of it, the investment banking institutions (ie issuing houses,stockbrokers,market makers,asset management boutiques,merchant bankers etc)do most of the background capital dealings,on behalf of most of these commercial banks in the capital market.Just wondering if we can get concrete insider info as regards how they are faring in these times and the 10 best of them in terms of:
-corporate share capital base.
-human capital strenghts.
-deals engaged in currently.
-other parameters.

As an aside,what is the list of the 5 best paying of these investment banking companies for an associate level(fresh graduate recruitee) and the figure for the grade? Please be specific.

NB-pls, this is a serious thread for serious minded NLanders and finance professionals having the requisite info,plssss resist the urge to type if u dont have anything impacting to share,thank you.

SPECIAL INVITATION:pls by all means,all members of WELCOME TO MY OFFICE thread are invited to contribute-TBK417,Jarus,Ajalankoko,and co.

Lets get the ball rolling!!!

3 Likes

Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by TCann(m): 8:17pm On Jun 05, 2009
My opinion: top 10 invst banks in nigeria

1-Grennwich trust ltd
2-bgl securities ltd
3-Chapel Hill Denham
4-FSDH
5-Vetiva capital mgt ltd
6-CSL stockbrokers
7-WSTC financial services
8-Stanbic IBTC asset mgt
9-Capital Bancorp ltd
10-Meristem securities

3 Likes 1 Share

Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Nobody: 4:40pm On Jun 06, 2009
Investment banking has different aspects(Corporate Finance, Stockbroking, Wealth/asset mgt, Trade/project finance etc), and some of these institutions have different aspects as their stronghold. For example, when I was in one of these institutions(Vetiva, to be precise), we were very strong in Corporate Finance and in fact there was hardly any big merger and acquisition and capital raising exercise we didn't partake in, whether as issuing house or financial adviser. Our hands were full then, and we even had to be rejecting some offers we considered too small. This was during the banking/insurance consolidation period. However, we were not very strong in stockbroking and asset management. When it comes to asset management, IBTC easily had it then.

Overall then, IBTC were rated first, BGL second and Vetiva third.

I'm no longer in this system and I have lost touch of happenings in the system. So I can't comment on their current standing now.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Nobody: 5:50pm On Jun 06, 2009
Let me attempt to analyse some of these instituions based on what I know about them.

VETIVA
I had a brief stint there in 2007, pre-NYSC and till today I'm still a friend of the company. They are a very nice set of people. I met their MD in my present company(both of us were waiting for the elevator) and he easily recognized me. I have also met their company secretary and other top notch recently, after leaving the company. We still relate. I still use one of them as my referee even till now.
Vetiva is a well-paying organization, but you'll work your ass off. By 5pm, the day is just starting, if you get what I mean!
You will be trained on the job. I joined them just weeks after finishing university, and that was my first work experience.
They maintain a small staff strenght of about 25 staff, 20% of which are either NYSC or Pre-NYSC. They don't take just any corper, you write their standard test and interview, and they give you the job and pay you 50k monthly plus free lunch, with the intention of using your service year to assess your capability. If you perform well, they will staff you, and welcome to money! The common route for employing fresh graduates in the company is through this pre-NYSC and NYSC arrangement, but some people have criticized this as cheap labour(you work for more than one year, earning just 50K). Sometimes though, they hire fresh graduates that had served elsewhere.
But in any case, as a permanent staff, entry level, your monthly take-home is in the region of 200K. But where the bulk of your income will come is from the profit sharing and other bonus schemes. Being a company with small staff strenght, but huge profits, an entry level may receive up to a million, if not more, as share of profit.
Another thing mention-worthy is that they hold their annual retreat abroad every year and all staff, including corpers, go.
Also, if you are in corporate finance, you will have the opportunity of meeting who-is-who in corporate Nigeria through the various meetings you hold with them. In my brief stay there, I had the rare priviledge of meeting and interacting with CEOs and EDs I see on newspapers.
All in all, Vetiva is a very good company pay- and exposure-wise, but if you are the weak type that easily fall sick, then please don't go near.

IBTC Asset Mgt:

I wrote the tests and interviews of IBTC and Vetiva around the same time(Dec 2006) and I landed offer from both,and asked to resume same day (Jan 3, 2007). But for some personal reasons,I chose Vetiva. My brother, who we live under the same roof, is the MD of IBTC Asset Mgt(IAML), and I didn't want us to be in same company.
I will not say much about IAML but it's a very good company. The pay for pre-NYSC and NYSC during that time was 60k and 106k respectively, but I learnt they have slashed it to 30K now. Like, Vetiva, they recruit you standardly, not just any posting from camp. You write test and interviews like normal entry level recruitment, and after service you will be staffed but their take-home, for entry level, is not as high as that of Vetiva, but they have avery good training culture. Unlike Vetiva, they have a more standard promotion structure.some of my friends also had brief stints there before moving to P&G and Shell, and a couple are still there.

BGL
One of my closest friends worked briefly with them before moving to Glo and later GTB. Pitiably, he didn't say good about them. They are not that structured and pay package is somehow arbitrary. You will see somebody of your level earning higher than you and there will be no clear explanation for the differential. They however have the brand as a force to reckon with in Nigeria's investment banking system.

MERRISTEM
This is another coy I know quite much about. The whole of their research dept was once dominated by my friends in Ife Economics and Accounting. The current head of their research was my tutorial teacher in Ife(two years my senior, TKB's classmate) and still very close to me. One of his subordinates was my class mate and another my immediate junior. And a number of my friends were there briefly in 2007/2008.
To go straight to the point, as a corper or Pre-NYSC staff, you collect 50K per month, after being staffed or recruited fresh as an entry level you collect around 166K per month take-home. This was as at mid-last year. I'm not sure of what goes on there now.
All in all, Merristem is another company with great prospect. If you join them and stay,you can easily rise as they expand.
Their MD is also a family friend.

GREENWICH
One of my close classmates work here but I don't know mucha bout them

AFRIBANK CAPITAL
I have a friend here too, but I don't know much about them. But I have a feeling taht their pay is OK.

ZENITH CAPITAL
I don't have exact figures about their packages, but for somebody to move from Vetiva, despite their pay, to Zenith Capital makes me suspect there are some goodies there too. A former colleague of mine in Vetiva, with masters from Cambridge, did that.

PS: This is just a well-intended sharing of job information. No intention of bad-mouthing any organization, just as any figure quoted here is not authoritative.

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Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by paaj: 8:22pm On Jun 06, 2009
@jarus. U seem very familiar with the investment banking organisations in Nigeria. But my question is, why did u leave the system, sincerely? With all the good prospects it has. Just wondering, though cos I am a qualified accountant with one of the big four. And Im considering moving to that sector. And what other disadvantages are there about investment banking career, besides the long hours? And if there is any way to escape the long hours amongst the investment banks in Nigeria, which of them will be the better devil?

2 Likes

Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by deprofy: 7:21am On Jun 07, 2009
jarus what was an enlightening post, pls what does it take be in one of those firms,it's been an unfulfilled dream, hope to read 4m u soon
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Nobody: 11:16am On Jun 07, 2009
@Paaj,
Investment banking is no doubt a very good field, with prospect. I actually did not plan to be an investment banker, I joined only because that was teh first offer I got after finishing the university. And by the special grace of God, I'm now with an oil company.
The sector is very good, and I actually enjoyed it. It exposes you to the workings of the capital market. Apart from your noraml pay packages, being in the investment banking system, you stand to make a lot of legit money from the capital market. You have full insider information and expertise about the market, and you can easily make personal investments that earn you high return. Also, you can read market trend on your own, and guide your investment decisions.
In terms of stress, it's actually not different from the banking system, and indeed in the finacial system as a whole. So for somebody within the financial system before, the stress will be familiar.

I don't know much about the specific working hours of others, except Vetiva where I experienced, but I doubt if there will be any difference, as my ex-classmate in Skye Financial Services, also complains bitterly about the hours they spend at work.
You can try any of those T-Cann listed above.


@deprofy,
Did you make a 2-1?
Most of them don't take anything less than 2-1.

Did you read Accounting, Economics, Finance or any other management/social science course?
Most of them believe, with a degree in any of these courses, yopu can easily be trained.

Do you have a professional qualification?
If you have CIS, you will be a hot cake for them. ICAN, ACCA or any other relevant qualification also places you at an advantage.
But these are just added advantages. You can get the jobs easily with just Bsc.

Can you pass their tests and interviews?
This is perhaps the most important. Even if you had First Class plus CIS,ICAN etc and failed their test, you are on your own o! the cut-off for Vetiva test is 60% and I think I scored 71%, co-led with my classmate/friend then.

Do you know the basics of capital market before?
In their interviews, you need to demonstrate, at least basic knoweldge of capital market. A cousin of mine, a Science graduate, went for BGL interview and she was asked 'what is capital market?'. She couldn't answer. That was the end. In my interviews before joining Vetiva, I was asked what an IPO meant, to give an an example of a recent IPO exercise in Nigeria etc. Following events in capital market, through reading newspapers, listening to news etc may help here.

Are you sitting at home, reading Tuesday Guardian?
If you sit at home, just buying and reading Tuesday Guardian, expecting to see these organizations place job advert in newspapers, then God help you.
Most of these institutions recruit almost every week, with people joining and others moving almost every week. More often than not, they don't waste their resources placing adverts in newspapers, when they have tens of CVs in their files. So, you need to go their offices and drop your CVs. One day, it will get to your turn to be called. They may need people urgently. It could be faster if you have friends/family working there, who may help you submit your CVs. A CV submitted by a staff gives more hope of BEING CALLED FOR TEST because being an insider he will submit it in the right place, rather than junk files, and may even help you make follow-up to facilitate your being called for test. But if you fluff test, then you are on your own o.

Finally, please note that getting job in investment banking institution, and indeed in general, may not be as simple as analysed above. These are just hints. The intricacies of the labour market may not as simple as this. After all, even I 'the lecturer' have a very close friend, with 2-1 in Economics from Ife for that matter and very good, still struggling to get a place. And with all these labour market stories in my head, I can't help him. Only God is the ultimate giver of job, like any other thing.

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Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by TCann(m): 11:56am On Jun 07, 2009
Jarus:

Let me attempt to analyse some of these instituions based on what I know about them.

VETIVA
I had a brief stint there in 2007, pre-NYSC and till today I'm still a friend of the company. They are a very nice set of people. I met their MD in my present company(both of us were waiting for the elevator) and he easily recognized me. I have also met their company secretary and other top notch recently, after leaving the company. We still relate. I still use one of them as my referee even till now.
Vetiva is a well-paying organization, but you'll work your ass off. By 5pm, the day is just starting, if you get what I mean!
You will be trained on the job. I joined them just weeks after finishing university, and that was my first work experience.
They maintain a small staff strenght of about 25 staff, 20% of which are either NYSC or Pre-NYSC. They don't take just any corper, you write their standard test and interview, and they give you the job and pay you 50k monthly plus free lunch, with the intention of using your service year to assess your capability. If you perform well, they will staff you, and welcome to money! The common route for employing fresh graduates in the company is through this pre-NYSC and NYSC arrangement, but some people have criticized this as cheap labour(you work for more than one year, earning just 50K). Sometimes though, they hire fresh graduates that had served elsewhere.
But in any case, as a permanent staff, entry level, your monthly take-home is in the region of 200K. But where the bulk of your income will come is from the profit sharing and other bonus schemes. Being a company with small staff strenght, but huge profits, an entry level may receive up to a million, if not more, as share of profit.
Another thing mention-worthy is that they hold their annual retreat abroad every year and all staff, including corpers, go.
Also, if you are in corporate finance, you will have the opportunity of meeting who-is-who in corporate Nigeria through the various meetings you hold with them. In my brief stay there, I had the rare priviledge of meeting and interacting with CEOs and EDs I see on newspapers.
All in all, Vetiva is a very good company pay- and exposure-wise, but if you are the weak type that easily fall sick, then please don't go near.

IBTC Asset Mgt:

I wrote the tests and interviews of IBTC and Vetiva around the same time(Dec 2006) and I landed offer from both,and asked to resume same day (Jan 3, 2007). But for some personal reasons,I chose Vetiva. My brother, who we live under the same roof, is the MD of IBTC Asset Mgt(IAML), and I didn't want us to be in same company.
I will not say much about IAML but it's a very good company. The pay for pre-NYSC and NYSC during that time was 60k and 106k respectively, but I learnt they have slashed it to 30K now. Like, Vetiva, they recruit you standardly, not just any posting from camp. You write test and interviews like normal entry level recruitment, and after service you will be staffed but their take-home, for entry level, is not as high as that of Vetiva, but they have avery good training culture. Unlike Vetiva, they have a more standard promotion structure.some of my friends also had brief stints there before moving to P&G and Shell, and a couple are still there.

BGL
One of my closest friends worked briefly with them before moving to Glo and later GTB. Pitiably, he didn't say good about them. They are not that structured and pay package is somehow arbitrary. You will see somebody of your level earning higher than you and there will be no clear explanation for the differential. They however have the brand as a force to reckon with in Nigeria's investment banking system.

MERRISTEM
This is another coy I know quite much about. The whole of their research dept was once dominated by my friends in Ife Economics and Accounting. The current head of their research was my tutorial teacher in Ife(two years my senior, TKB's classmate) and still very close to me. One of his subordinates was my class mate and another my immediate junior. And a number of my friends were there briefly in 2007/2008.
To go straight to the point, as a corper or Pre-NYSC staff, you collect 50K per month, after being staffed or recruited fresh as an entry level you collect around 166K per month take-home. This was as at mid-last year. I'm not sure of what goes on there now.
All in all, Merristem is another company with great prospect. If you join them and stay,you can easily rise as they expand.
Their MD is also a family friend.

GREENWICH
One of my close classmates work here but I don't know mucha bout them

AFRIBANK CAPITAL
I have a friend here too, but I don't know much about them. But I have a feeling taht their pay is OK.

ZENITH CAPITAL
I don't have exact figures about their packages, but for somebody to move from Vetiva, despite their pay, to Zenith Capital makes me suspect there are some goodies there too. A former colleague of mine in Vetiva, with masters from Cambridge, did that.

PS: This is just a well-intended sharing of job information. No intention of bad-mouthing any organization, just as any figure quoted here is not authoritative.





Nice one here Jarus, you know the saying that once an 'analyst', always one! you called to bear here, your previous job skills of analysis.But i have some comments and dissenting views, though a 'soon to be' entrant into that sector,i have some info from close associates in the sector, boys that we ate beans together in U.I,staying back in schl during the long sessional vacation and cracking ICAN papers,i was the youngest amongst them and many of them graduated b4 me and now fixed in these places,so pretty know some of these places,though not all o.
My comments include:
1-fine,in 2007- early '08, most of these investment banking institutions were doing great,most esp the consolidatn period, but do you still think they re maintaining that standard in this economic crises and which amongst them can we vote to still be floating well, too bad most of them are not public companies,we could have gotten an EPS and CAPM analysis of their share and capital&riskiness status.

2-As regards your comment on entry into that sector,you never mentioned the traditional skills set and necessary grad qualification to penetrate the sector at entry level(most think u have to get a CFA, MBA b4 u can get in but i disagree, PASSION is it and a good numerical discipline degree/qualificatn!!).And dont u think things are a little tight now with the events in the economy.Also considering that most of their recruitment offers are not publicized like that, for me i ve not seen any in the papers or online.

3-I was reading somewhere on NL where TKB was replying to a guy as regards the 'sweetness' of the operational aspect of inv. banking which he refers to as the 'real thing' as against the marketing side, are there different qualificatns to achieve these. Good to know that u know TKB, u guys finished from Ife,hmmmm, no comment.

4-Am intending that to a large extent,professionals in investment banking on the forum shd demystify the clouds surrounding the profession and help guys having passion for it to develop a career in this path and have adequate info to make an informed decision. this Jarus u have started and u cant imagine thousands that ur info and will help out.

5-from info that i have gathered, Vetiva, Greenwich trust, and CSL stockbrkers, BGL are doing great as regards performance indicators against some industry benchmarks. As regards remuneratn of entry level, i concur with your assertions, as the average pay is around 180k-200k.

I rest my case for now,when i get more info,i will shoot again.
But one thing, guys lets come and share knowledge and lets become more informed. Dont read the thread alone,make the move to type in what you know.Peace.

1 Like

Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Nobody: 12:56pm On Jun 07, 2009
1-fine,in 2007- early '08, most of these investment banking institutions were doing great,most esp the consolidatn period, but do you still think they re maintaining that standard in this economic crises and which amongst them can we vote to still be floating well, too bad most of them are not public companies,we could have gotten an EPS and CAPM analysis of their share and capital&riskiness status.
Like I mentioned earlier, I have lost touch with exact happenings in the system since I left. I was there when the Nigerian capital market was in its peak. Things were bubbling then. But it is no brainer to assert that they were hit severely by the global crunch. But I don't know the severity on each of them.
I think TKB is in this sector. He should have more info here.

2-As regards your comment on entry into that sector,you never mentioned the traditional skills set and necessary grad qualification to penetrate the sector at entry level(most think u have to get a CFA, MBA b4 u can get in but i disagree, PASSION is it and a good numerical discipline degree/qualificatn!!).And dont u think things are a little tight now with the events in the economy.Also considering that most of their recruitment offers are not publicized like that, for me i ve not seen any in the papers or online.
Rightly said. CFA, MBA etc are not in any way a pre-requisite. I mentioned earlier that with just Bsc, you are good to go. Of course, passion must not be lacking.

3-I was reading somewhere on NL where TKB was replying to a guy as regards the 'sweetness' of the operational aspect of inv. banking which he refers to as the 'real thing' as against the marketing side, are there different qualificatns to achieve these.
I personal hate any job that has to do with marketing. I was in Corporate Finance in my brief stint in the system, and canvassing for project was done at high level,top mgt level, moreso we already had a solid brand and we needed no aggressive marketing. This may not be totally true for asset management and stock broking units though. But overall, marketing in serious investment banking institutions is not that aggressive, as it is in banks. As rightly said by TKB, operations, of course, is where teh real sweetness is, anywhere.

Good to know that u know TKB, u guys finished from Ife,hmmmm, no comment.
TKB was two years my senior in Ife Economics and still my master in corporate world now. I respect him.

1 Like

Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by deprofy: 8:58pm On Jun 07, 2009
jarus
thanks for the reply, i have experience in banking with one of the top five banks in nigeria(marketing). do i stand a chance of moving there 'cos i got a science background with no professional qualification
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Emuejev: 8:59pm On Jun 07, 2009
@jarus--enlightening, am planning to enroll for my masters in finance come september, am tire of writing aptitude tests and attending interviews and waiting for stage 3 to 4

but please what wud be better and well appreciated since u ve all these contacts in these firms is to help people like us by giving us tips on how to apply to these firms, and if possible give us one or 2 contacts,

Thank you
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by MrCrackles(m): 9:04pm On Jun 07, 2009
I thought STANBIC IBTC is a top two INV Bank? shocked

I mean from what i have heard and read!
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by seunallday: 10:12am On Jun 08, 2009
damn, dis is the best forum eva, currently servin at a securites firm, in fact, currently running the place as me boss is in ghana for cfa and Musa the second in command is just an ignorant figure head, and i have major plans for investment bankin, dis has been a lotta help, tanx a lot folks,

i tink IBs exposure, or at least their securities wing, to d last stock market brouhaha has destabilised things a bit, many of these firms asre exposed madly to debt, and are not in a favourable position, a good number of dem did nt have much business until a couple of months ago, i know for a fact that meristem has cut salaries, 40% now to be performance based,

Jarus:

Investment banking has different aspects(Corporate Finance, Stockbroking, Wealth/asset mgt, Trade/project finance etc), and some of these institutions have different aspects as their stronghold. For example, when I was in one of these institutions(Vetiva, to be precise), we were very strong in Corporate Finance and in fact there was hardly any big merger and acquisition and capital raising exercise we didn't partake in, whether as issuing house or financial adviser. Our hands were full then, and we even had to be rejecting some offers we considered too small. This was during the banking/insurance consolidation period. However, we were not very strong in stockbroking and asset management. When it comes to asset management, IBTC easily had it then.




true IB is quite diverse but like my boss says, d bread and butter is still stockbroking, issuing house deals dont come in dat often, how reaally true is dis,
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Nobody: 12:26pm On Jun 08, 2009
damn, dis is the best forum eva, currently servin at a securites firm, in fact, currently running the place as me boss is in ghana for cfa and Musa the second in command is just an ignorant figure head, and i have major plans for investment bankin, dis has been a lotta help, tanx a lot folks,
I don't think it's wise of you to call the second in command of a coy you are stil with, 'an ignorant figure head', even if you know he is. Even if you are no longer with the coy, bad-mouthing a former boss/coy in public is not the best. You could have used a lighter word, if at all you want express your displeasure. Something like: I'm not too impressed a top mgt staff overseeing things now(NEVER mention name).

true IB is quite diverse but like my boss says, d bread and butter is still stockbroking, issuing house deals dont come in dat often, how reaally true is dis,
Yes, stockbroking is an all-season thing, and issuing house(Corporate Finance) could be seasonal. But for us in Vetiva, we were stronger in corporate finance(acting as Issuing house,Financial advisory etc) and that was where we made the large chunk of our profits. But that was the period banking/insurance recapitalization was on and our hands were full with projects and it got to a stage when we had to be rejecting projects we considered small.


I thought STANBIC IBTC is a top two INV Bank? Shocked

I mean from what i have heard and read!
I don't think any rating will put Stanbic IBTC outside Top 3. I'm also quite shocked T-Cann's rating.
IBTC's founder,Atedo Peterside, is the father of investment banking in Nigera. They are a force to reckon with in investment banking in Nigeria.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by JJYOU: 12:33pm On Jun 08, 2009
wbb
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by seunallday: 1:21pm On Jun 08, 2009
@jarus, well said, correction taken, but dat was actually me being nice about d dude,

how come nobody is mentioning ARM?
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by AjanleKoko: 3:17pm On Jun 08, 2009
seunallday:

how come nobody is mentioning ARM?

Possibly because none of the contributors work there, or have never worked there.
I personally like ARM and they are my portfolio managers for all my stock assets, mutual funds, and even pension.
Even though they're not aggressive and loud like the other chaps, I like their no-frills, lean mean GTB-ish approach.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by DisGuy: 3:55pm On Jun 08, 2009
I've been trying to get information about graduate schemes of nigerian companies with no luck
and seeing as the financial sector seems to be more structured, does any of the these banks/investment coys
have a structure training scheme or they only allow for study leave off-site?

not a financial person but since theres no info about many sectors i thought i should ask here

You will be trained on the job. I joined them just weeks after finishing university, and that was my first work experience.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by MrCrackles(m): 4:11pm On Jun 08, 2009
Jarus:

I don't think any rating will put Stanbic IBTC outside Top 3. I'm also quite shocked T-Cann's rating.
IBTC's founder,Atedo Peterside, is the father of investment banking in Nigera. They are a force to reckon with in investment banking in Nigeria.

Yeah back in the day when it was called IBTC, it was a major player

The merger with Stanbic, was supposed to have safe gaurded it's posotion atop and shoot up it's ratings!
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by AjanleKoko: 4:21pm On Jun 08, 2009
MrCrackles:

Yeah back in the day when it was called IBTC, it was a major player

The merger with Stanbic, was supposed to have safe gaurded it's posotion atop and shoot up it's ratings!


I would say they are still big. There's no more an investment banking niche (I may be wrong, me I be engineer!) as it was in those days when IBTC was a 100% investment banking-focused operation. Looks like the banks are now more into commercial banking, and they all have an asset management spin-off or subsidiary focusing on the investment banking side.
Obviously Stanbic IBTC is yet to establish itself as a major player in commercial banking. I'm sure Stanbic IBTC Asset Management is a very strong player.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by seunallday: 5:01pm On Jun 08, 2009
i tink ARM is a silent major player as well, plus i hrd theyr one of the few nt very exposed to margin, hrd they jst bought a stockbrokin house so they should be aiming for the top too,

as far as stanbic ibtc is concerned, i dont tink they lost their edge, i tink they got more consmer banking edge and theier operations are just more diluted, plus ibtc asset mgt, and esp ibtc pensions are big time players,

diamond bank also has a strong investment arm from wat i hear, hrd george soros is interested in d joint

1 Like

Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by MrCrackles(m): 9:12pm On Jun 08, 2009
seunallday:

i tink ARM is a silent major player as well, plus i hrd theyr one of the few nt very exposed to margin, hrd they jst bought a stockbrokin house so they should be aiming for the top too,

as far as stanbic ibtc is concerned, i dont tink they lost their edge, i tink they got more consmer banking edge and theier operations are just more diluted, plus ibtc asset mgt, and esp ibtc pensions are big time players,

diamond bank also has a strong investment arm from wat i hear, hrd george soros is interested in d joint

True, i am not too sure about T-CANN's List, but i have heard a lot about ARM and i have a friend that moved back from here, who works there
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by tkb417(m): 8:27am On Jun 09, 2009
I would say they are still big. There's no more an investment banking niche (I may be wrong, me I be engineer!) as it was in those days when IBTC was a 100% investment banking-focused operation. Looks like the banks are now more into commercial banking, and they all have an asset management spin-off or subsidiary focusing on the investment banking side.
Obviously Stanbic IBTC is yet to establish itself as a major player in commercial banking. I'm sure Stanbic IBTC Asset Management is a very strong player

hmm, are you sure of what you just said?
i work in a strictly Investment banking outfit
A foreign from one of the cold countries that specialises only in emerging markets

I dont know if IBTC does more deals
as a matter of fact, i know all the peeps running the PE, corp finance and stuffs in coys like Africinvest, IBTC stanbic, Actis and co
i dont think IBTC is still the big pimpim
I know the SA unit has just got some funds to invest in emergin markets too (stealing our strategy grin), i can only say, the market is big enuff for everybody

ARM, VETIVA, Chapel Hill, Capital Alliance, BGL and co are all big!

Tee-Cann
abeg no vex, ill try as much as possible to respond with my analysis of the industry as soon as what im doing is over
you all know it was CFA alst weekend and the CFA institute guys are in town this week so a lotta stuffs are happening

will holla back people

Jarus
i no be your master oooo!! grin
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by AjanleKoko: 9:12am On Jun 09, 2009
tkb417:

hmm, are you sure of what you just said?
i work in a strictly Investment banking outfit
A foreign from one of the cold countries that specialises only in emerging markets
tkb,
I was referring to Nigerian banks actually. You said you work in a foreign outfit abi.
Since this consolidation thingie, they all seem to be commercial-banking focused, while the asset management firms are the ones doing investment banking.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by tkb417(m): 9:32am On Jun 09, 2009
tkb,
I was referring to Nigerian banks actually. You said you work in a foreign outfit abi.
Since this consolidation thingie, they all seem to be commercial-banking focused, while the asset management firms are the ones doing investment banking.

Ajanlekoko
ure right my oga.

even GS is going commercial banking now. My coy operates under a global body that is thinkin seriously of going commercial (not in 9ja tho) to weather the melt down.

Like Jarus said, their isnt too much business going on except for the Private Equity guys. Any right thinking person will know this is when the PE guys will be making a kill. If the structured capital market isnt favourable to raise capital, the only possible option is to go dangling your carrots at the PE guys.

Ive been on this course for the past 6-7 months running from Accra, Dakar to the far east looking for PE guys that will be willing to shed some cash in some of my mandates.

Investment Banking is cool, brain tasking, energy consuming and really rewarding
as for T-cann
you need to be all analytic, energic and be ready to spend long hours and weekends working on your mandates
some coys dont employ if you dont have the Mscs, First Class and the rest but its not really hard to figure

Just get yourself enrolled in CFA and get the level 1 passed and i can bet, you can enter one of those coys
if you have ACCA, ICAN and co with ur B.sc, you can hit up places like Stanbic BGL and co and they will be ready to take you in
But bros, the work can worry ooo

but if you work in a place like my office, ure sure gonna get a bonus as big as your annual pay
and thats just the plain truth.

so guys, lets talk, CFA guys are in town.
We are probably gonna have our 9ja CFA soooooooon grin grin grin
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Nobody: 9:57am On Jun 09, 2009
@TKB,
Something tells me you're with RENCAP!!!!. That's a very good coy.

I know IBTC quite well, especially before recapitalization exercise forced them to join Chartered.
I think Peterside made a mistake obtaining universal banking licence. The universal banking licence they had, but not operated, made N25b capital base requirement cover them and they were left with no other option than to merge with Chartered and acquire one other small bank(can't remember the name). They couldn't make their marks in commercial banking, given the fact that all the Zeniths, GTBs, UBAs, FBNs, UBNs of this world are having a firm grip of the market and it will take a miracle to outsmart them in their traditional terrain. It was therefore only inevitable that Peterside gave the bank to Standard bank of SA, a major player in this terrain in African market.
Yet, about 2 years after, we are still expecting to see what the miracle the SA guys want to perform to compete with the Zeniths of this world.

In any case, if IBTC had remained the Investment Banking and Trust Company Ltd it was pre-merger or more critically, pre-obtaining universal banking licence, then this topic would have been IBTC and others. Their investment banking subsidiary,(SIAML) proudly headed by my bros, is no doubt still a force to reckon with in their primary constituency, and with the quintessential Yewande Sadiku and Funso Akere calling the shots in their Corporate Finance Division, I don't think any informed rating will put IBTC outside top 3 in investment banking ranking in Nigeria. But commercial banking, we can only hope for the good. . .
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by AjanleKoko: 10:08am On Jun 09, 2009
tkb,
are you guys doing venture capital?
I have a project that needs financing, do you guys finance a good business plan or you only go for the known cash cows?
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by tkb417(m): 10:28am On Jun 09, 2009
I know IBTC quite well, especially before recapitalization exercise forced them to join Chartered.
I think Peterside made a mistake obtaining universal banking licence. The universal banking licence they had, but not operated, made N25b capital base requirement cover them and they were left with no other option than to merge with Chartered and acquire one other small bank(can't remember the name). They couldn't make their marks in commercial banking, given the fact that all the Zeniths, GTBs, UBAs, FBNs, UBNs of this world are having a firm grip of the market and it will take a miracle to outsmart them in their traditional terrain. It was therefore only inevitable that Peterside gave the bank to Standard bank of SA, a major player in this terrain in African market.
Yet, about 2 years after, we are still expecting to see what the miracle the SA guys want to perform to compete with the Zeniths of this world.
well said bro!!

In any case, if IBTC had remained the Investment Banking and Trust Company Ltd it was pre-merger or more critically, pre-obtaining universal banking licence, then this topic would have been IBTC and others. Their investment banking subsidiary,(SIAML) proudly headed by my bros, is no doubt still a force to reckon with in their primary constituency, and with the quintessential Yewande Sadiku and Funso Akere calling the shots in their Corporate Finance Division, I don't think any informed rating will put IBTC outside top 3 in investment banking ranking in Nigeria. But commercial banking, we can only hope for the good. . .

ol boi, something tells me we are still gonna drag you back to Investment Banking
Ol boi, ur first class degree shoudnt waste away ooo!

for real, ure right about IBTCs commercial banking move. There are 2 sides to the story
i think the move has taken the shine off their INV Bank outfit while all efforts are being channeled into competing with the regular hawks
The last time i heared, IBTC is about the only commercial bank embarking on a serious manhunt all over the country trying to look for suitable manpower to man the yet to be opened offices all over the country
I heared they are going to grow their outlets to position them strategically and to put them in a postion to start competing with the others
fyi, they are already pulling weights in the consumer loan arrangements with competitive interest rates!

i dont think it will take them many years to compete with the others but i see other smaller investment banking outifts springing up and taking a chunk of what would have been originally IBTCs meat.

lets see, the market is becoming bouyant and im gettin tipsy
who says, i may be in Stanbic tmr if they can match my wage grin

the future is bright for our finance industry. A lot of my friends in the foreign banks are itching to run back home to add to whats happening, people are in good business schools abroad preparing to storm 9ja
Dayokanu and co are getting ready to storm 9ja
Jarus, come back to us grin grin

tkb,
are you guys doing venture capital?
I have a project that needs financing, do you guys finance a good business plan or you only go for the known cash cows?
my oga. let us talk outside the curtain

if ur biz is compelling enuff, then you dont have to worry
no fund raising outfit will run away from any compelling biz case smiley
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by seunallday: 11:07am On Jun 09, 2009
tkb417:


Investment Banking is cool, brain tasking, energy consuming and really rewarding
as for T-cann
you need to be all analytic, energic and be ready to spend long hours and weekends working on your mandates
some coys dont employ if you dont have the Mscs, First Class and the rest but its not really hard to figure

Just get yourself enrolled in CFA and get the level 1 passed and i can bet, you can enter one of those coys
if you have ACCA, ICAN and co with ur B.sc, you can hit up places like Stanbic BGL and co and they will be ready to take you in
But bros, the work can worry ooo

so guys, lets talk, CFA guys are in town.
We are probably gonna have our 9ja CFA soooooooon grin grin grin


bros got a 2.1 from lag, economics, CIS level 2, gunnin for CFA nxt June, wat do u tink my chances are,

on the CFA issue, i hope soon enuff oo, cos na dubai moni dey chase me from december ooo, grin grin

tkb417:

well said bro!!



i dont think it will take them many years to compete with the others [b]but i see other smaller investment banking outifts springing up [/b]and taking a chunk of what would have been originally IBTCs meat.

lets see, the market is becoming bouyant and im gettin tipsy
who says, i may be in Stanbic tmr if they can match my wage grin


dats already happenin,

1 Like

Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by tkb417(m): 11:57am On Jun 09, 2009
bros got a 2.1 from lag, economics, CIS level 2, gunnin for CFA nxt June, wat do u tink my chances are,

on the CFA issue, i hope soon enuff oo, cos na dubai moni dey chase me from december ooo,

yes, that prob will soon be over.

2:1 econs will get you anywhere you want to work and when u finish ur CIS, the ure already a hotcake
but why CIS? u wanna be a stockbroker?
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by seunallday: 12:36pm On Jun 09, 2009
tkb417:


yes, that prob will soon be over.

2:1 econs will get you anywhere you want to work and when u finish ur CIS, the ure already a hotcake
but why CIS? u wanna be a stockbroker?



i hope so too, on the CFA, but whether na alaska dem go carry am go, am writin june '10 b God's grace,

doin CIS to give me the stockbrokin/investment analyst edge, plus hate accounts so ACCA n ICAN were off the options for me, got big plans for CFA (or masters in finance)as well, how relevant is CIS in Naija's IB terrain today?
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by damola1: 1:12pm On Jun 09, 2009
my oga. let us talk outside the curtain

if ur biz is compelling enuff, then you dont have to worry
no fund raising outfit will run away from any compelling biz case



BROS, we plenty for hear oh, for drop your email or make you buzz me: damola@damola.com ; 08053618904

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