Analyst - Investment Grade Capital Markets Suntrust Review
Here is a list of mid-market investment banks that provide investment banking/corporate finance advisory services to medium capitalization (pertaining to enterprise value) companies. Although there are no difficult and fast rules for what is defined equally center market, these companies will by and large be too small-scale to exist banked by the Bulge Brackets.
Occasionally, you will come across a larger investment banking platform pitch for a smaller client – especially when they feel the growth story will mean that the client will get to the appropriate enterprise value in fourth dimension (and exist in a position to lead the IPO). Conversely, you may likewise see a traditional mid-market shop proceed to provide investment banking services for a larger client considering of the historical relationship.
Likewise, established Bulge Subclass investment banks such every bit Goldman Sachs and JP Morgan will have middle market place platforms as well which may or may not exist fully integrated with the broader investment banking grouping.
Mid market banks may be universal banks (offering commercial banking services, such as Suntrust), but most operate nether a boutique model that only provide advisory services with express capital markets capabilities (less room to play in investment grade debt capital letter markets, sales and trading products, term loans) as they practise non have the rest sheet to support the business organization.
As such, sometimes the line between a mid-market boutique and anelite boutique such equally Lazard or Rothschild is unclear and subjective.
Middle Market Investment Banks
- Baird
- Jefferies
- Historically middle market place investment bank but tin now be classified equally an elite boutique owing to highest compensation beyond investment banks, large bargain period and robust leveraged finance capabilities (that goes mitt in hand with mid market presence)
- Piper Jaffray
- Simmons is Piper's free energy focused investment bank subsidiary
- Harris Williams
- Houlihan Lokey
- Suntrust (as Suntrust Robinson Humphrey)
- Merged with BB&T Banking company
- Evercore Mid-Market
- Cowen & Company
- Industrials coverage for transportation is prominent (airlines, railroads)
- Large capital markets role player in cannabis
- HSBC Global Banking and Markets
- Bulge bracket capabilities in other product groups such every bit Debt Capital Markets and Involvement Charge per unit Derivatives
- Lincoln International
- BMO Capital Markets
- A potent mid-market presence in the U.s., especially in the Midwest
- Substantially a bulge subclass in home market of Canada
- RBC Capital Markets
- Considered to be Burl Bracket now in some circles
- Market leader in domestic market
- Macquarie
- Marketplace leader in domestic market place
- Tudor, Pickering & Holt
- Free energy only – tin exist classified as elite boutique
- Subsidiary of Perella Weinberg Partners/PWP, an elite boutique
- Raymond James
- Thomas Weisel
- KeyBanc Capital Markets
- Janney Montgomery Scott
- Oppenheimer & Co.
- Was endemic past CIBC Earth Markets/Wood Gundy, then spun off again
- Cantor Fitzgerald
- Coker & Palmer
- Johnson Rice
- MKM Partners
- Roth Uppercase
- CBRE Clarion Securities
- Ladenburg Thalmann
- Morgan Keegan
- Keefe Bruyette & Woods (KBW)
- Part of Stifel now
- JMP Group
- Stephens
- Potent coverage for shipping and maritime industries
- Arma Partners
- Greentech Capital Advisors
- Bought out past Nomura
- CIBC Capital Markets
- Stifel
- Recently merged with GMP Securities
- Miller Buckfire (a Stifel company – restructuring specialist)
- Canaccord
- Imperial Majuscule
- Northland Securities
- DA Davidson
- Intrepid Partners
- Duff & Phelps
- Too known in valuation
Mid Market Investment Banking Services
Usually, mid marketplace investment banks will provide equity research coverage. Analysts at mid-markets are often considered objective and regularly win Institutional Investor awards for quality research. Of course, any investment broker knows that equity research is never actually objective.
Large 4 professional service firms such as Deloitte, Ernst & Young and PwC regularly market their ain investment banking services as mid-market, just this may be confusing because the deals washed are predominantly private and below what constitutes mid-market place thresholds (to a higher place $300 million). As well, the services provided may be more around financial due diligence than traditional advisory services.
Duff and Phelps and Houlihan Lokey besides have stiff valuation practices (including fairness opinions) that will compete with the Big iv firms – with the level of particular being much more advanced. Duff and Phelps publishes a cost of majuscule document every twelvemonth that is widely used across Wall Street for equity risk premiums.
Large banks with investment banking platforms may still banking company middle market platforms through their commercial banking divisions. They exercise not need to support their commercial cyberbanking revenues with investment cyberbanking fees because returns on lending are far higher for smaller companies who offer security and unremarkably draw on their credit.
Many mid-market banks are strongly regional – for example Midwest United States.
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Source: http://sellsidehandbook.com/2019/10/15/list-of-middle-market-investment-banks/
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