Why You Shouldn’t Be an Investment Banker

Why You Shouldn’t Be an Investment Banker


Everyone hears a lot about investment banking while in school, and it seems to be the coolest thing since the wheel. The point of this post is not to bash on sellside, but just to give an idea of why many people prefer the buyside. Equity Research

A different industry

Investment banking is really concentrated in a handful of major firms, with boutiques and regionals often scrambling for footholds. The sellside requires a great deal of capital to establish a complete product line. Therefore, it’s unlikely that you are going to be able to start your own firm — you’re going to be working for one behemoth or another until you retire or move over to the buyside anyway. Just like commercial banks, investment banking is quickly becoming an industry with just a few real players.

Look at the investment management industry and you’ll see a totally different picture. While there is certainly an impetus towards industry consolidation on the buyside, the impetus is a great deal weaker than that on the sellside. The buyside has far lower capital requirements to start new firms. In addition, plan sponsors (the foundations, universities and pension plans who control vast pools of money) are always on the lookout for new investment managers with different strategies or expertises. Therefore, once you’ve established yourself in the industry as being particularly good at managing a particular kind of fund, you will have the opportunity to open your own firm. This is why we see the landscape of thousands of buyside firms.

Flexibility in location

Most investment bankers work out of three cities: New York, London or Tokyo. Part of the investment banking trade is being close (physically close) to the markets themselves. Customers pay investment bankers for that experience with the markets on a moment-by-moment basis.

The buyside, however, draws its profits not from trading or offering securities, but by gaining assets from plan sponsors and individuals. Plan sponsors are located all over the United States — corporations and unions in Detroit need investment managers just as much as a foundation in Los Angeles or a university in New Hampshire or a government pension plan in Tallahassee. Therefore, one can find good buyside shops all over the United States — from Anchorage to Miami. While the large concentration of firms is in New York and Boston, with lesser concentrations in Chicago, San Francisco, Minneapolis and Los Angeles, there are numerous firms in all major cities (and many smaller ones). Examples include McKinley in Anchorage, USAA in San Antonio, Federated in Pittsburgh, Smith Breeden in Chapel Hill, N.C., Munder in Birmingham, Mich., Invista in Des Moines, T. Rowe Price in Baltimore, or Columbia in Portland — I could go on for hours.

Invest the way you want

Investment banks generally perform analysis in very similar ways. How a potential IPO candidate firm is valued at Goldman will not be very different from how Morgan Stanley will value it.

The buyside varies wildly in terms of styles, strategies and investment philosophies. A quant firm will not even have the same kinds of personnel as a fundamentalist firm. An analyst at a large-cap growth firm will do very different types of analysis (or at least, on very different sorts of companies) as a small-cap value firm. It’s up to you to choose.

Investment banking firms (generally) receive their money from advising corporations in large transactions (offerings, mergers, divestitures, etc). These events occur over a relatively short time-frame. The job of the banker is to get the transaction done as quickly as possible and collect your fee. Generally, these transactions take from weeks to months. You as a banker have relatively little control in how slow or fast the transaction occurs — generally, at a frenetic pace.

As an investment manager, I have the luxury (and necessity, in my case) of taking a long-term view. While admittedly, some mutual funds have their values posted on a daily basis, most investors evaluate their managers on a quarterly or yearly basis (though monthly performance is sometimes used). The time-frame of investment management shops varies considerably from the seconds of some quant shops to multiple years at some value shops. Therefore, again, you can pick the type of investing you prefer.

Differing firm cultures

Most investment bankers have very similar backgrounds. Generally, they are under 45, have an MBA from a prestigious business school and entered the business at a relatively early age (usually right upon finishing their degrees).

Buysiders vary considerably. Some of my best friends in the business are over 60 — one is over 80 and still relatively active in his firm. Many have widely varying academic and work backgrounds, including extensive experience in industry. Though most have MBAs, they often have other graduate degrees and interesting undergraduate degrees as well. Basically, I find the buyside community a great deal more interesting and fun to interact with.

This diversity is reflected in the firms you will encounter in your career. A quant firm may be full of science PhDs and ex-computer programmers. A high-tech sector firm may have young MBAs with experience at major high-tech firms. A value firm may be full of ex-accountants. An aggressive hedge fund may be composed of gung-ho traders. Some firms will have an explicit commitment to their community and sponsor numerous charities in their area, while others will not. I have found that the buyside is a much more human place to work than the sellside. Again, it’s up to you to choose.

A career for a life-time

There are few investment bankers in their 50s. The pressure, time commitment, office politics, intense travel schedules, etc. will drive all but a few out of the industry. More importantly, most come to question whether the sellside provides enough benefits for its immense drawbacks. The money is good, but many come to conclude that peddling securities for large corporations is not a worthwhile activity to spend the remainder of their lives on.

On the other hand, there are numerous buysiders working well into their 60s, 70s and even beyond. Not only is the pace such that you can be on the buyside past the age of 45, most buysiders love the business. Our work enables people to retire comfortably, foundations and charities to continue to benefit the community, and universities to expand educational opportunity. Meanwhile, we get to do that using the investment methods we enjoy most at the paces that we’re comfortable with.

The career for the curious

The buyside has a certain intellectual freedom that the sellside does not. As a buysider, I am allowed to hold any opinion about a particular firm that I want. I could say that [some Fortune 100 company]‘s strategy is entirely wrong-headed, their management foolish, their industry going downhill on an iced slope and their finances disorganized. Not only would I not be reprimanded but even analysts who like the company would want to find out why I thought the company was a poor investment (they may not agree, but they would want to test out my ideas).

Sellsiders do not think in that kind of broad terms. Their job is to get the deal done and collect the fees. While you will learn a great deal in corporate finance, your time is not your own but the client’s. In a merger, you will spend your time trying to make the deal look as good as possible — it’s not your place to say that the whole idea was wrong, or what effect the merger would have on the industry, and so on. In a public offering, your job is to make the company look as good as possible. It is true that investment banks turn down numerous assignments that the senior management feel are bad deals. At a junior level, however, you will have no say whatsoever over what deals you will do.

On the buyside, you will not be told what ideas (in your industry) to cover. In fact, it is your job to tell your portfolio managers what ideas you like. They may request that you look at a particular firm or idea (it may be in the portfolio already or just an idea they themselves got elsewhere). However, this is a request for your actual opinion. If you feel the idea is a poor one, you are expected to say so (and, of course, be able to defend that opinion well). You are not expected to agree with your PMs on all occasions. In fact, you are to bring greater understanding than they have on your area of expertise.

Summing up

There are a lot of good reasons to get a job on the sellside. However, a lot of students enter the sellside with hyped and unrealistic expectations (some of which they get from the firms, some from their unknowledgeable and ignorant fellow students). Most buysiders aren’t yelling about how great our profession is from the rooftops. Buysiders are often a low-key bunch. So, when your class hot-dog is running his mouth about how great his job in investment banking is going to be, take the cue — let him run his mouth while you take the job on the buyside. And don’t let him know what he’s missing — you don’t need the competition from him anyway.

Equity Research companies worldwide in New York

Equity Research companies worldwide

Are you looking for an equity research stint and want to apply for anything that moves? Are you already in equity research and want to move to a different location? The list below has all the major -and not so major- research firms worldwide. From Poland to Singapore or Mexico. Any additions welcome.

New York
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Advent Financial
Afin Securities International Ltd., Research Division
Agile Equity, LLC, Research Division
Albert Fried & Company, LLC, Research Division
Alembic Global Advisors
Alpha Finance US Corp., Research Division
AMI Research
Ardour Capital Investments, LLC, Research Division
Arete Research Services LLP
Auerbach Grayson & Company Incorporated, Research Division
Auriga USA LLC, Research Division
B. Riley & Co., Inc.
B. Riley & Co., LLC, Research Division
Balis, Lewittes & Coleman Inc., Research Division
Barclays Capital, Research Division
BB&T Capital Markets Inc.
BB&T Capital Markets, Research Division
BBVA Securities Inc., Research Division
BDR Research Group, LLC
Bishop, Rosen & Co., Inc.
Bishop, Rosen & Co., Inc., Research Division
BofA Merrill Lynch, Research Division
Boyar Financial Publishing, LLC
Boyar’s Intrinsic Value Research LLC
Brean Murray, Carret & Co., LLC, Research Division
Brigantine Advisors LLC
Bristol Investment Group, Inc., Research Division
BTG Pactual S.A., Research Division
BTIG, LLC, Research Division
Buckingham Research Group, Inc.
Canaccord Genuity, Research Division
Cantor Fitzgerald & Co., Research Division
Cantor Fitzgerald, LP
Capstone Investments, Research Division
Caris & Company, Inc.
Caris & Company, Research Division
Casimir Capital L.P., Research Division
CentreInvest Inc.
Chardan Capital Markets, LLC, Research Division
Christensen
CIBC World Markets Corp., American Research Division
CJI Capital Markets Inc., Research Division
CL King & Associates, Inc
Coleman & Company Securities, Inc., Research Division
Collins Stewart LLC, Research Division
Corinthian Partners, L.L.C.
Cowen & Co., LLC
Cowen and Company, LLC, Research Division
Creative Global Investments LLC, Research Division
Credit Agricole Securities (USA) Inc., Research Division
Crystal Equity Research, LLC
Crystal Partners & Co., LLP
Crystal Research Associates LLC
Custom Equity Research, Inc., Advisory Arm
Cuttone & Company, Inc.
Cyrano Equity Research Inc.
Dahlman Rose & Company, LLC, Research Division
Daiwa Capital Markets America Inc., Research Division
DBS Vickers Research
Divine Capital Markets LLC
Dudack Research Group
Duncan-Williams, Inc., Research Division
Emissary Capital Group, LLC, Research Division
Englander Research
ESN North America, Inc.
Evercore Partners Inc., Research Division
Favus Institutional Research, LLC
FBN Securities, Inc., Research Division
Fourteen Research Corp.
Fox-Pitt Kelton Cochran Caronia Waller Limited, Research Division
FTN Equity Capital Markets Corp.
GC Research Ltd.
GKN Securities Corp., Research Division
Gleacher & Company, Inc., Research Division
Global Hunter Securities, LLC, Research Division
Gluckstein & Silverspoon
Goldman Sachs Group Inc., Research Division
Great Eastern Securities, Inc., Research Division
Griffen-Rose, LLC
Hapoalim Securities U.S.A., Inc.
Hapoalim Securities USA, Inc., Research Division
Harbinger Research, LLC
Harris Nesbitt Corp.
HCFP Brenner Securities LLC, Research Division
HealthpointCapital, LLC, Research Division
Hornblower & Weeks, Research Division
Hudson Square Research, Inc.
ING Groep N.V., Research Division
InSync Analytics LLC, Research Division
Investrend Research
Irevna Limited
ITG Investment Research Inc.
Jefferies & Company, Inc.
Jefferies & Company, Inc., Research Division
Jesup & Lamont Securities Corporation, Research Division
JMP Securities LLC, Research Division
Joseph Gunnar & Co., LLC, Research Division
JP Morgan Chase & Co, Research Division
Kaufman Bros., L.P.
Kaufman Bros., L.P., Research Division
KBC Securities NV
Keefe, Bruyette, & Woods, Inc., Research Division
Kevin Dann & Partners, Research Division
KeyBanc Capital Markets Inc.
Kim & Company LLC
Kim Eng Research Pte. Ltd.
KTA Research, LLC
Ladenburg Thalmann & Co. Inc., Research Division
Lazard Capital Markets LLC, Research Division
Ledgemont Capital Markets LLC
Leerink Swann LLC, Research Division
Lombard Street Research Limited
Longbow Research LLC
M. R. Beal & Company
M. R. Beal & Company, Research Division
Macquarie Research
Maxim Group LLC, Research Division
McNicoll, Lewis & Vlak LLC, Research Division
MDB Capital Group LLC, Research Division
Mehta Partners, LLC, Research Division
Meridian Equity Partners, Inc., Research Division
Merlin Securities, LLC, Research Division
Merriman Curhan Ford & Co., Research Division
Merriman Holdings, Inc. (NasdaqCM:MERR)
Miller Tabak & Co., LLC, Research Division
Miller Tabak Roberts Securities, LLC, Research Division
Mitsubishi UFJ Securities (USA), Inc., Research Division
Mizuho Securities Co., Ltd., Research Division
MKM Partners LLC, Research Division
MKM Partners, LLC
Monarch Capital Group, LLC
Monness, Crespi, Hardt & Co., Inc., Research Division
Morgan Joseph TriArtisan LLC, Research Division
Morgan Stanley, Research Division
Muriel Siebert & Co., Research Division
Murphy & Durieu, L.P., Research Division
National Securities Corporation, Research Division
Natixis Bleichroeder LLC, Research Division
Natixis Securities North America Inc., Research Division
Needham & Company, LLC, Research Division
New York Global Securities, Inc., Research Division
Noble Financial Group, Inc., Research Division
Numis Securities Ltd., Research Division
o3 Capital Advisors Pvt. Ltd.
Olympia Asset Management, Ltd.
Olympia Capital Markets Group, Research Division
Oppenheimer & Co. Inc., Research Division
Oppenheimer Holdings Inc. (NYSE:OPY)
Opus Group Financial
Oscar Gruss and Son Inc.
Oscar Gruss and Son Inc., Research Division
PAA Research LLC
Pali Capital Inc., Research Division
Pali Capital, Inc.
Palladian Research LLC
Phoenix Partners Group, LP, Research Division
Pivotal Research Group
Portales Partners, LLC
Prime Equity Research
Pritchard Capital Partners, LLC, Research Division
Putnam Lovell
Rapid Ratings Pty Ltd., Research Division
RB Milestone Group, LLC
RBC Capital Markets LLC
RL Renck & Co., Inc.
RL Renck & Co., Inc., Research Division
Robert Fleming Inc.
Robotti & Company Incorporated, Research Division
Rodman & Renshaw Capital Group, Inc. (NasdaqGM:RODM)
Rosetta Group Research L.L.C.
Rothschild Inc., Research Division
S&P Equity Research
Samuel A. Ramirez & Co., Inc., Research Division
Sandler O’Neill + Partners, L.P., Research Division
Sandler O’Neill & Partners, L.P.
Santander, Equity Research
SEB Enskilda, Research Division
SG Corporate & Investment Banking
Sidoti & Company, LLC
Simon Securities Inc., Research Division
Soleil Securities Group, Inc.
Southridge Research Group LLC
Spelman Research Associates, Ltd.
Standard & Poor’s Corporation
Stephens Inc., Research Division
Sterne Agee & Leach Inc., Research Division
Strategic International Securities Research Inc.
Sturza’s Medical Investment Letter
Summer Street Research Partners
SunTrust Robinson Humphrey Capital Markets
Susquehanna Financial Group, LLLP, Research Division
Technology Insights Research LLC
Telsey Advisory Group LLC
The Argus Research Group, Inc.
The National Research Exchange Inc.
The Williams Capital Group, L.P., Research Division
The Zephirin Group, Inc.
ThinkEquity LLC, Research Division
Thomas Weisel Partners Equity Research
Thomas Weisel Partners Group, Inc.
TIAA-CREF, Research Division
Ticonderoga Securities LLC
Tocqueville Asset Management LP, Research Division
Tradition Asiel Securities, Inc., Research Division
TriPoint Global Equities, LLC, Research Division
Tuohy Brothers Investment Research Inc.
UniCredit Research
UOB Kay Hian Research Pte Ltd
US Securities & Futures Corporation, Research Division
Utendahl Capital Partners LP, Research Division
Vector Securities, L.L.C.
Viriathus Research LLC
W. Quillen Securities, Research Division
Wall Street Strategies Corp. (OTCPK:WSSS.Q)
WestLB Panmure
WestPark Capital, Inc.
Wm Smith & Co.
WR Hambrecht + Co., LLC
WR Hambrecht + Co., LLC, Research Division
Wunderlich Securities Inc., Research Division

Greater LA
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B. Riley & Co., Inc.
B. Riley & Co., LLC, Research Division
Barclays Capital, Research Division
BB&T Capital Markets Inc.
Black Box Investing, Inc.
Boston Group LP, Research Division
Brimmal Research, LLC
C. K. Cooper & Company
C. K. Cooper & Company, Inc., Research Division
Cantor Fitzgerald, LP
Core Pacific -Yamaichi International (H.K.) Limited, Research Division
Crowell, Weedon & Co., Research Division
Dabney/Resnick/Imperial LLC, Research Division
Emerging Growth Stocks, LLC
EquityNet Research
GHS Dutton, LLC
Global Hunter Securities, LLC, Research Division
GP Group, LLC, Research Division
Harris Nesbitt Corp.
Haugen Custom Financial Systems, Inc.
InterFirst Capital Corp., Research Division
Jefferies & Company, Inc.
Loop Capital Markets, LLC
ManageSource Financial Group, Inc., Research Division
MDB Capital Group LLC, Research Division
Merriman Curhan Ford & Co., Research Division
Merriman Holdings, Inc. (NasdaqCM:MERR)
National Capital Securities, Inc., Research Division
New Earth Capital Group
Putnam Lovell
Roth Capital Partners, LLC, Research Division
Singular Research
Stockcross Financial Services, Inc., Research Division
The Capital Group Companies, Inc., Research Division
The Seidler Companies Inc.
Vista Partners LLC
W.A.B. Capital, LLC
Wedbush Securities Inc., Research Division
Wells Fargo Advisors, LLC
WestPark Capital, Inc.
Wilshire Mutual Funds, Inc – Wilshire 5000 Index Portfolio (MutualFund:WFIV.X)
Wilshire Mutual Funds, Inc. – Small Company Growth Portfolio (MutualFund:DTSG.X)
Wilshire Mutual Funds, Inc.-Wilshire Large Company Growth Portfolio (MutualFund:DTLG.X)

SF Bay Area & Silicon Valley
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Americal Securities Inc., Research Division
Avondale Partners, LLC
B. Riley & Co., Inc.
B. Riley & Co., LLC, Research Division
Blaylock Robert Van, LLC
BofA Merrill Lynch, Research Division
Brean Murray, Carret & Co., LLC, Research Division
Brigantine Advisors LLC
Canaccord Genuity, Research Division
Cantor Fitzgerald, LP
Caris & Company, Inc.
Caris & Company, Research Division
Charles Schwab & Co. Inc.
Charter Equity Research
Cowen and Company, LLC, Research Division
Custom Equity Research, Inc., Advisory Arm
Duncan-Williams, Inc., Research Division
Farmhouse Equity Research, LLC
GC Research Ltd.
Gleacher & Company, Inc., Research Division
Global Hunter Securities, LLC, Research Division
Goldman Sachs Group Inc., Research Division
Harris Nesbitt Corp.
Howe Barnes Hoefer & Arnett, Inc., Research Division
Infinium Securities, Inc., Research Division
Jefferies & Company, Inc.
Jefferies & Company, Inc., Research Division
JMP Group Inc. (NYSE:JMP)
JMP Securities LLC, Research Division
JP Morgan Chase & Co, Research Division
Kaufman Bros., L.P.
Keefe, Bruyette, & Woods, Inc., Research Division
Longbow Research LLC
Loop Capital Markets, LLC
Merriman Curhan Ford & Co., Research Division
Merriman Holdings, Inc. (NasdaqCM:MERR)
Mitsubishi UFJ Securities (USA), Inc., Research Division
Morgan Stanley, Research Division
Needham & Company, LLC, Research Division
Nollenberger Capital Partners, Inc., Research Division
Pacific Crest Securities, Inc.
Polestar Investment Research LLC
Portsmouth Financial Services, Research Division
Putnam Lovell
RBC Capital Markets LLC
RBC Capital Markets, LLC, Research Division
Redwood Securities Group Incorporated, Research Division
Robert W. Baird & Co. Incorporated, Research Division
Rutberg & Company, LLC
Rutberg & Company, LLC, Research Division
Sandler O’Neill & Partners, L.P.
Semi Equity Partners
Soleil Securities Group, Inc.
Sterne Agee & Leach Inc., Research Division
Stone & Youngberg LLC, Research Division
Susquehanna Financial Group, LLLP, Research Division
ThinkEquity LLC, Research Division
Thomas Weisel Partners Equity Research
Thomas Weisel Partners Group, Inc.
Tiburon Research Group, Inc.
Vista Partners LLC
Wedbush Securities Inc., Research Division
William Blair & Company, L.L.C.
WR Hambrecht + Co., LLC
WR Hambrecht + Co., LLC, Research Division

Dallas
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Baldwin Anthony Securities, Inc., Research Division
Cantor Fitzgerald, LP
Dallas Research & Trading
First Dallas Securities, Research Division
Global Hunter Securities, LLC, Research Division
JP Morgan Chase & Co, Research Division
M. R. Beal & Company
Southwest Securities, Inc.
Stephens Inc., Research Division
Sterne Agee & Leach Inc., Research Division
Stifel, Nicolaus & Co., Inc., Research Division
Stonegate Securities Inc., Research Division
William K. Woodruff & Company, LLC, Research Division
San Diego
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Avondale Partners, LLC
California Equity Research, LLC
Capstone Investments, Research Division
Caris & Company, Inc.
Caris & Company, Research Division
Ford Equity Research, Inc.
WBB Securities, LLC, Research Division

Greater Houston
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BofA Merrill Lynch, Research Division
Canaccord Genuity, Research Division
Cantor Fitzgerald, LP
D.E. Wine Investment Inc., Research Division
Dahlman Rose & Company, LLC, Research Division
Duncan-Williams, Inc., Research Division
Global Hunter Securities, LLC, Research Division
Goldman Sachs Group Inc., Research Division
Howard Weil Incorporated
Howard Weil Incorporated, Research Division
Jefferies & Company, Inc.
Jefferies & Company, Inc., Research Division
JP Morgan Chase & Co, Research Division
Loop Capital Markets, LLC
Midkiff & Stone Capital Group, Inc.
Pin Money Investments, LLC, Research Division
Pritchard Capital Partners, LLC, Research Division
RBC Capital Markets LLC
Royalist Independent Equity Research, Ltd.
SunTrust Robinson Humphrey, Inc., Research Division
The Carson Medlin Company
Tudor, Pickering, Holt & Co. Securities, Inc.
Tudor, Pickering, Holt & Co. Securities, Inc., Research Division
Tudor, Pickering, Holt & Co., LLC
U.S. Capital Advisors LLC, Research Division
Wunderlich Securities Inc., Research Division

Chicago
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Advanced Equities Inc., Research Division
Ativo Research, LLC
Barrington Research Associates, Inc., Research Division
Brookshire Advisory and Research, Inc.
Cantor Fitzgerald, LP
Credit Suisse Securities LLC – Holt
First Analysis Securities Corporation, Research Division
Fox-Pitt Kelton Cochran Caronia Waller Limited, Research Division
FTN Financial Group
Gar Wood Securities, LLC, Research Division
Harris Nesbitt Corp.
Howe Barnes Hoefer & Arnett, Inc., Research Division
Jackson Securities, LLC, Research Division
JMP Securities LLC, Research Division
KeyBanc Capital Markets Inc.
Loop Capital Markets, LLC
M. R. Beal & Company
Next Generation Equity Research, LLC
Next Generation Holding, L.L.C.
Robert W. Baird & Co. Incorporated, Research Division
Sandler O’Neill & Partners, L.P.
SG Corporate & Investment Banking
Spin-Off Advisors, LLC
Sturdivant & Co., Inc., Research Division
TJM Institutional Services, LLC, Research Division
Wayne Hummer Wealth Management, Research Division
William Blair & Company L.L.C., Research Division
William Blair & Company, L.L.C.
Zacks Investment Research Inc.

Boston
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America’s Growth Capital, Research Division
Arete Research Services LLP
Avondale Partners, LLC
BB&T Capital Markets Inc.
Brigantine Advisors LLC
Canaccord Genuity, Research Division
Cantor Fitzgerald, LP
Caris & Company, Inc.
Caris & Company, Research Division
CL King & Associates, Inc
Collins Stewart LLC, Research Division
Cowen & Co., LLC
Cowen and Company, LLC, Research Division
Custom Equity Research, Inc., Advisory Arm
Eaton Vance Mutual Funds Trust – Eaton Vance Large-Cap Core Research Fund (MutualFund:EAER.X)
FAC Equities
GC Research Ltd.
Goldman Sachs Group Inc., Research Division
Harris Nesbitt Corp.
ITG Investment Research Inc.
Jefferies & Company, Inc.
Jefferies & Company, Inc., Research Division
JMP Securities LLC, Research Division
Leerink Swann LLC, Research Division
Merriman Curhan Ford & Co., Research Division
Merriman Holdings, Inc. (NasdaqCM:MERR)
Morgan Stanley, Research Division
Needham & Company, LLC, Research Division
Neponset Equity Research, Inc.
Off Wall Street Consulting Group, Inc.
Pacific Crest Securities, Inc.
Pioneer Investment Management, Inc, Research Division
Pulse Trading, Inc.
RBC Capital Markets LLC
Robert W. Baird & Co. Incorporated, Research Division
Sandler O’Neill & Partners, L.P.
Soleil Securities Group, Inc.
Summer Street Research Partners
SunTrust Robinson Humphrey Capital Markets
Susquehanna Financial Group, LLLP, Research Division
Thomas Weisel Partners Group, Inc.
Wellington Management Company LLP, Research Division
William Blair & Company L.L.C., Research Division
WR Hambrecht + Co., LLC, Research Division

Seattle
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Cantor Fitzgerald, LP
E.K.Riley Investments, LLC, Research Division
First Washington Corporation, Research Division
KeyBanc Capital Markets Inc.
McAdams Wright Ragen, Inc.
McAdams Wright Ragen, Inc., Research Division
PitchBook Data, Inc.
Stifel, Nicolaus & Co., Inc., Research Division

Denver Area
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Denver Investment Advisors LLC, Research Division
Gleacher & Company, Inc., Research Division
GVC Capital LLC, Research Division
KeyBanc Capital Markets Inc.
Mejia Capital Consulting
Morgan Keegan & Company, Inc., Research Division
RBC Capital Markets LLC
Robert W. Baird & Co. Incorporated, Research Division
Thomas Weisel Partners Equity Research
Tudor, Pickering, Holt & Co., LLC
Wm Smith & Co.
Wm Smith Securities, Inc.
Wunderlich Securities Inc., Research Division

Greater London
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Absolute Strategy Research Limited
Actinvest Group Ltd.
Allenby Capital Limited, Research Division
Almeida Capital Ltd.
Ambrian Partners Ltd.
Arbuthnot Securities Limited, Research Division
Arete Research Services LLP
Atlantic Equities LLP
Barclays Capital, Research Division
Beaufort International Associates Limited, Research Division
Charles Stanley Securities, Research Division
City Capital Corporation Limited, Research Division
Collins Stewart plc, Research Division
Consumer Equity Research
Coutts & Co, Research Division
Echelon Research & Advisory LLP
European Securities Network LLP
Exane BNP Paribas
Frost Consulting & Advisory, Research Division
GMP Securities L.P., Research Division
Granville Baird
Hammer Partners SA
HB Markets Plc, Research Division
ING Groep N.V., Research Division
Irevna Limited
Jefferies & Company, Inc.
KBC Securities- CEE Research
Keefe, Bruyette & Woods Limited, Research Division
Libertas Partners LLP, Research Division
MainFirst Bank AG, Research Division
Marble Arch Research
Mirabaud Securities Limited, Research Division
Morgan Grenfell & Co Ltd., Research Division
New Street Research LLP
Ocean Equities Limited, Research Division
Old Park Lane Capital Plc., Research Division
Oraca Ltd.
Pali International Limited, Research Division
Putnam Lovell
RBC Capital Markets LLC
Robert W. Baird & Co. Incorporated, Research Division
Robertson Stephens International, Ltd.
S&P Equity Research
Standard & Poor’s Corporation
Stifel, Nicolaus & Co., Inc., Research Division
SVS Securities Plc, Research Division
Teathers, Research Division
Thomas Weisel Partners Group, Inc.
UOB Kay Hian Research Pte Ltd
Vicarage Capital Limited, Research Division
WestLB AG, Research Division
WestLB Panmure

Hong Kong
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3V Capital Limited, Research Division
ABCI Securities Company Limited, Research Division
Amsteel Securities (HK) Ltd., Research Division
Barclays Capital, Research Division
BofA Merrill Lynch, Research Division
Cantor Fitzgerald, LP
CCB International Securities Limited, Research Division
Christensen
CN Intelligence Group Limited
Core Pacific -Yamaichi International (H.K.) Limited, Research Division
Credit Agricole Securities (USA) Inc., Research Division
CSC Securities (HK) Ltd., Research Division
DBS Vickers Research
East Asia Securities Company Limited, Research Division
Emperor Securities Limited, Research Division
Everbright Securities Co. LTD., Research Division
First Shanghai Securities Limited, Research Division
Fox-Pitt Kelton Cochran Caronia Waller Limited, Research Division
Goldman Sachs Group Inc., Research Division
Guotai Junan Securities (Hong Kong) Limited, Research Division
Haitong International Research Limited
Hani Securities (H.K.) Limited, Research Division
ING Groep N.V., Research Division
Japan Asia Securities Limited, Research Division
Jefferies & Company, Inc.
Jefferies & Company, Inc., Research Division
JP Morgan Chase & Co, Research Division
Keefe, Bruyette & Woods Asia Limited, Research Division
KGI Securities Co. Ltd., Research Division
Kim Eng Research Pte. Ltd.
Kingston Securities Limited, Research Division
Kingsway Financial Services Group Limited, Research Division
Lehman Brothers Asia Ltd.
Lombard Street Research Limited
Macquarie Research
MainFirst Bank AG, Research Division
Mega Securities (Hong Kong) Company Limited, Research Division
Mirae Asset Securities Co., Ltd., Research Division
Morgan Stanley, Research Division
Nava Standard Chartered Securities Investment Ltd., Research Division
Nomura Asian Equity Research
Oriental Patron Financial Group
Oriental Patron Securities Limited, Research Division
OSK Securities Hong Kong Limited, Research Division
Pacific Challenge Securities Limited, Research Division
Piper Jaffray Asia Securities Limited, Research Division
Platinum Broking Company Limited
Platinum Broking Company Limited, Research Division
Polaris Securities (Hong Kong) Limited, Research Division
Primasia Securities Company Limited, Research Division
Quam Research
RBC Capital Markets LLC
RBS Research
Religare Capital Markets, Research Division
REXCAPITAL Securities Limited
Robotti & Company Incorporated, Research Division
S&P Equity Research
SBI E2 Capital Securities Ltd, Research Division
SinoPac Securities Investment Service, Research Division
South China Research Limited
Standard & Poor’s Corporation
Sun Hung Kai Research Limited
Taishin Securities (Hong Kong) Company Limited, Research Division
Tung Tai Securities Company Limited, Research Division
UBS Securities Asia Limited, Research Division
UOB Kay Hian Research Pte Ltd
Wellington Management Company LLP, Research Division
WestPark Capital, Inc.

Singapore
__________________________
AmFraser Securities Pte. Ltd.
AmFraser Securities Pte. Ltd., Research Division
BofA Merrill Lynch, Research Division
Cantor Fitzgerald, LP
Credit Agricole Securities (USA) Inc., Research Division
DBS Vickers Research
Exane BNP Paribas, Research Division
Goldman Sachs Group Inc., Research Division
IIFL Research
ING Groep N.V., Research Division
Jefferies & Company, Inc., Research Division
JP Morgan Chase & Co, Research Division
Kim Eng Research Pte. Ltd.
Lincoln Crowne & Company, Research Division
Macquarie Research
Morgan Stanley, Research Division
Nomura Asian Equity Research
NRA Capital Pte. Ltd.
Pali International Limited, Research Division
Pareto Securities, Research Division
RBS Research
S&P Equity Research
SEB Enskilda, Research Division
SG Securities (Singapore) Pte Ltd., Research Division
SIAS Research Pte Ltd
UOB Kay Hian Research Pte Ltd
Wellington Management Company LLP, Research Division

Zurich
_______________________-
Bank am Bellevue, Research Division
Bank Sarasin, Research Division
Helvea SA, Research Division
Limmat Research
MainFirst Bank AG, Research Division
Mont Blanc Capital Management AG, Research Division
Morgan Stanley, Research Division

Atlanta
_____________
Avondale Partners, LLC
Cantor Fitzgerald, LP
FIG Partners, LLC, Research Division
FinancialDNA, L.L.C., Research Division
Harris Nesbitt Corp.
Jefferies & Company, Inc.
Keefe, Bruyette, & Woods, Inc., Research Division
KeyBanc Capital Markets Inc.
Lenox Equity Research, LLC
Pritchard Capital Partners, LLC, Research Division
RBC Capital Markets LLC
Robert W. Baird & Co. Incorporated, Research Division
Sandler O’Neill & Partners, L.P.
SunTrust Robinson Humphrey Capital Markets
SunTrust Robinson Humphrey, Inc., Research Division
The Carson Medlin Company
Value & Growth Research Associates, Inc.
Wells Fargo Advisors, LLC

Charlotte
____________________________
BB&T Capital Markets Inc.
Cantor Fitzgerald, LP
RBC Capital Markets LLC
Robert W. Baird & Co. Incorporated, Research Division
SunTrust Robinson Humphrey Capital Markets

Sacramento
________________
Dutton Associates, LLC
GHS Dutton, LLC
M. R. Beal & Company

Toronto
______________________
Accountability Research Corporation
Barclays Capital, Research Division
Bloom Burton & Co., Research Division
BMO Nesbitt Burns, Inc.
BofA Merrill Lynch Canada, Inc.
BofA Merrill Lynch, Research Division
C.P.M.S. Computerized Portfolio Management Services, Inc.
Canaccord Genuity, Research Division
Capital Ideas Research
Catalyst Equity Research, Inc.
Clarus Securities Inc.
Clarus Securities Inc., Research Division
Cormark Securities Inc., Research Division
Desjardins Securities Inc., Research Division
Dominick and Dominick Securities Inc., Research Division
Dundee Securities Corporation
Dundee Securities Corporation, Research Division
First Delta Securities Inc.
Fraser Mackenzie Limited
Fraser Mackenzie Limited, Research Division
Genuity Capital Markets
GMP Capital Inc. (TSX:GMP)
GMP Securities L.P., Research Division
Greenius Inc.
Haywood Securities Inc.
Haywood Securities Inc., Research Division
Independent Equity Research Corp.
Independent Insight Inc.
Industrial Alliance Securities Inc., Research Division
Jacob Securities Inc., Research Division
Jennings Capital Inc.
Laurentian Bank Securities, Inc., Research Division
Loewen Ondaatje McCutcheon Limited, Research Division
M Partners Inc., Research Division
Mackie Research Capital Corporation
Macquarie Capital Markets Canada Ltd., Research Division
Macquarie Research
Maison Placements Canada Inc., Research Division
MGI Securities Inc., Research Division
National Bank Financial, Inc., Research Division
NCP Northland Capital Partners Inc., Research Division
NextGen India Investments
Northern Securities Inc.
Northern Securities, Inc., Research Division
Octagon Capital Corporation, Research Division
Oppenheimer Holdings Inc. (NYSE:OPY)
Paradigm Capital, Inc.
Paradigm Capital, Inc., Research Division
Raymond James & Associates, Inc., Research Division
Raymond James Ltd.
RBC Capital Markets LLC
RBC Capital Markets, LLC, Research Division
S&P Equity Research
Salman Partners Inc.
Salman Partners Inc., Research Division
Standard & Poor’s Corporation
Stifel, Nicolaus & Co., Inc., Research Division
Stonecap Securities Inc., Research Division
TD Newcrest Capital Inc., Research Division
Thomas Weisel Partners Canada Inc., Research Division
Thomas Weisel Partners Equity Research
Thomas Weisel Partners Group, Inc.
TMB Research
Toll Cross Securities Inc., Research Division
Toll Cross Securities, Inc.
UOB Kay Hian Research Pte Ltd
Veritas Investment Research Corporation
Versant Partners Inc., Research Division
Wellington West Capital Markets Inc.
Wellington West Capital Markets Inc., Research Division
Wolverton Securities Ltd, Research Division

Hartford & Stamford Areas
__________________________
Bhirud Associates, Inc., Research Division
Cantor Fitzgerald, LP
Chatsworth Securities LLC
Consumer Edge Research, LLC
CRT Capital Group LLC
CRT Capital Group LLC, Research Division
Delco Advisors, Research Division
Dowling & Partners Securities, LLC
Euro Pacific Capital, Inc., Research Division
Excalibur Research Group
GE Asset Management Incorporated, Research Division
Gleacher & Company, Inc., Research Division
Jefferies & Company, Inc.
Keefe, Bruyette, & Woods, Inc., Research Division
Langen McAlenney
Mercury Partners LLC, Research Division
MKM Partners LLC, Research Division
MKM Partners, LLC
Nutmeg Securities Ltd., Research Division
RBC Capital Markets LLC
Robert W. Baird & Co. Incorporated, Research Division
Southridge Research Group LLC
Susquehanna Financial Group, LLLP
Susquehanna Financial Group, LLLP, Research Division
Tokeneke Research LLC
Westport Capital Markets, LLC, Research Division
William Blair & Company, L.L.C.

Germany
______________________
Ardour Capital Investments, LLC, Research Division
B. Metzler seel. Sohn & Co. Holding AG
Bank M-biw Bank für Investments und Wertpapiere AG, Research Division
Bankhaus Lampe KG, Research Division
Berenberg Bank, Research Division
BofA Merrill Lynch, Research Division
CA Cheuvreux, Research Division
Concord Equity Research
Concord Investmentbank AG (DB:CEF)
Danske Markets Equities, Research Division
Dr. Kalliwoda Research GmbH
Equity Analyst Ltd.
European Securities Network LLP
Eurosharelab
Fairesearch GmbH & Co KG
First Berlin Equity Research GmbH
GBC AG
Going Public Media AG, Research Division
GSC Research Gmbh
Hauck & Aufhauser Institutional Research GmbH
Jefferies & Company, Inc.
Jefferies & Company, Inc., Research Division
Kepler Capital Markets
Kepler Capital Markets, Research Division
Landesbank Berlin Holding AG, Research Division
Macquarie Research
MainFirst Bank AG, Research Division
Marble Arch Research
Merck Finck & Co., Research Division
Metzler Equities, Research Division
Midas Research GmbH
Robert W. Baird & Co. Incorporated, Research Division
Robertson Stephens International, Ltd.
S&P Equity Research
SEB Enskilda, Research Division
SES Research GmbH
SG Corporate & Investment Banking
Silvia Quandt Research GmbH
SRC Research GmbH
SRH AlsterResearch AG
Standard & Poor’s Corporation
Transformanz GmbH
UniCredit Research
VCH Investment Group AG
VEM Aktienbank AG, Research Division
VISCARDI Equity Research
WestLB AG, Research Division
WestLB Panmure
Worldwide Equity Research AG

Pittsburgh
________________________________-
Parker/Hunter Inc, Research Division
Parker/Hunter Inc.
PNC Wealth Management, Research Division

Poland
___________________________
Bank DnB Nord Polska S.A., Research Division
Bank Handlowy W Warszawie SA, Research Division
BRE Bank Securities S.A., Research Division
DB Securities S.A.
DM Penetrator SA, Research Division
Dom Maklerski AmerBrokers, Research Division
Dom Maklerski Banku BPS S.A., Research Division
Dom Maklerski BZ WBK S.A., Research Division
Dom Maklerski IDMSA, Research Division
Erste Group Bank AG, Research Division
ING Groep N.V., Research Division
Ipopema Securities S.A., Research Division
KBC Securities NV
KBC Securities- CEE Research
Millennium Dom Maklerski Spolka Akcyjna, Research Division
PKO BP Securities, Research Division
UniCredit Research
Wood & Company, Research Division

Belgium
_____________________________
7c Consult, Research Division
Banque Degroof, Research Division
Corluy & Co Research
Dewaay, Servais & Cie, Research Division
European Securities Network LLP
Exane BNP Paribas, Research Division
ING Groep N.V., Research Division
KBC Bank NV, Research Division
KBC Securities NV
KBC Securities NV, Research Division
Vermeulen-Raemdonck SA, Research Division

Australia
______________________
BBY Limited, Research Division
BGF Capital Group, Research Division
BofA Merrill Lynch, Research Division
Burrell Stockbroking Pty Ltd., Research Division
CCZ Statton Equities Pty Ltd.
CCZ Statton Equities Pty Ltd., Research Division
CIBC World Markets Australia Corporate Pty Limited, Research Division
Citigroup Pty. Limited
Commonwealth Bank of Australia, Research Division
Credit Agricole Securities (USA) Inc., Research Division
D J Carmichael Pty Ltd., Research Division
Diogenes Research Pty Ltd.
E.L. & C. Baillieu Stockbroking Ltd., Research Division
F. W. Holst and Co. Pty Ltd., Research Division
F.W. Holst & Co Pty Ltd.
Far East Capital Ltd., Research Division
Goldman Sachs & Partners Australia Pty Ltd, Research Division
Goldman Sachs Group Inc., Research Division
Hadley Green Investment Group, Research Division
JP Morgan Chase & Co, Research Division
LINWAR Securities Pty Limited, Research Division
Macquarie Research
Martin Place Securities Pty Ltd., Research Division
MC Capital & Co. Pty Limited, Research Division
Microequities Pty Ltd.
Moelis Australia Securities Pty Ltd, Research Division
Moelis Australia Securities Pty Ltd.
Morgan Stanley, Research Division
Nomura Asian Equity Research
Ord Minnett Management Limited, Research Division
Patersons Securities Limited, Research Division
Pershing Securities Australia Limited
Precept Investment Actuaries Pty Limited
RBC Capital Markets, LLC, Research Division
RBS Morgans Limited, Research Division
RBS Research
Resource Capital Research Pty Limited
S&P Equity Research
Shaw Stockbroking Ltd.
Shaw Stockbroking Ltd., Research Division
Sino Strategic International Ltd., Research Division
Standard & Poor’s Corporation
State One Stockbroking Ltd., Research Division
Taylor Collison Limited, Research Division
Veritas Securities Ltd., Research Division
Wilson HTM Ltd., Research Division
wise-owl.com Pty Ltd

St. Louis
___________________
Conning & Company
Flagstone Securities, LLC, Research Division
Kenny Securities Corp.
Murphy Analytics, LLC
Noble Financial Group, Inc., Research Division
Robert W. Baird & Co. Incorporated, Research Division
Stifel Financial Corp. (NYSE:SF)
Wachovia Securities, LLC, Research Division
Wells Fargo Advisors, LLC
Wunderlich Securities Inc., Research Division

Minneapolis/St. Paul
_________________-
Cantor Fitzgerald, LP
Craig-Hallum Capital Group LLC, Research Division
D.A. Davidson & Co., Research Division
Feltl and Company, Inc.
Feltl and Company, Inc., Research Division
John G Kinnard & Co., Research Division
Marquette Avenue Securities, Inc.
Marquette Financial Group
Northland Securities Inc., Research Division
RBC Capital Markets LLC
Soleil Securities Group, Inc.
Stifel, Nicolaus & Co., Inc., Research Division

Philadelphia
_____________________
B. Riley & Co., LLC, Research Division
BOE Securities, Inc.
Boenning & Scattergood, Inc.
Cantor Fitzgerald, LP
Commerce Capital Markets, Inc.
Loop Capital Markets, LLC
Philadelphia Brokerage Corporation, Research Division
Securities Industry Analytics LLC
Stifel, Nicolaus & Co., Inc., Research Division
Susquehanna Financial Group, LLLP
Susquehanna Financial Group, LLLP, Research Division

Mexico/Central America/South America/Spain/Portugal
___________________________________________________________________________
Abaco Casa de Bolsa, SA de CV, Research Division
Actinver S.A. de C.V., Research Division
Argentaria Bolsa S.V.B., S.A., Research Division
Banco de Sabadell. S.A., Research Division
Banco Português de Investimento, S.A., Research Division
Banco Safra SA, Research Division
Banco Schahin Cury S.A., Research Division
Banesto Bolsa, S.V., S.A., Research Division
Banif Primus Corretora de Valores e Câmbio S.A., Research Division
Barclays Capital, Research Division
BBVA Provincial Casa de Bolsa, Research Division
BCP Investimento, Research Division
Bisa Agente de Bolsa, Research Division
BofA Merrill Lynch, Research Division
BTG Pactual S.A., Research Division
Buenos Aires Trust Company S.A
CA Cheuvreux, Research Division
Caixa-Banco de Investimento SA, Research Division
Capital Markets Argentina, Research Division
Casa De Bolsa Arka, S.A. De C.V., Research Division
Casa de Bolsa Banorte, S.A. de C.V., Research Division
Celfin Capital, Research Division
City Corretora de Câmbio e Valores Mobiliários Ltda, Research Division
Compania Suramericana de Valores S.A. Suvalor Comisionista de Bolsa, Research Division
Dexia Equities Espana, S.A., A.V., Research Division
Espírito Santo Research
European Securities Network LLP
Exane BNP Paribas, Research Division
Exotix Limited, Research Division
Fator Corretora, Research Division
GBM Grupo Bursátil Mexicano, S.A. de C.V. Casa de Bolsa, Research Division
Geração Futuro Corretora de Valores S/A
Geração Futuro Corretora de Valores S/A, Research Division
Gescapital Gestion S.G.I.I.C. S.A., Research Division
Goldman Sachs Group Inc., Research Division
GVC Gaesco Valores S.V. S.A., Research Division
Iberian Equities S.A. A.V, Research Division
Indosuez Mexico Casa de Bolsa, S.A. de C.V., Research Division
ING Groep N.V., Research Division
Inteligo SAB, Research Division
Interacciones Casa De Bolsa De Cv, Research Division
Interdin Bolsa, SVB, Research Division
Interlima, Research Division
InterMoney Valores, S.V., Research Division
Intervalores Casa De Bolsa, CA, Research Division
Inverseguros S.A.
Ixe Casa de Bolsa, S.A. de C.V., Research Division
JP Morgan Chase & Co, Research Division
Kepler Capital Markets, Research Division
Lisbon Brokers Sociedade Corretora, S.A., Research Division
Mello Valores, Sociedade Financeira de Corretagem, S.A., Research Division
Mildesa Servicios Bursatiles S.A., Research Division
Misasi Corretora De Valores S/A, Research Division
Morgan Stanley, Research Division
Multivalores Casa De Bolsa Sa De Cv, Research Division
N+1 Equities
NCO Dealer SFA SA, Research Division
Peruval Corp. S.A., Research Division
Piano & Parga Sociedad de Bolsa S.A, Research Division
Piano Administradora de Inversiones S.A., Research Division
Planner Corretora De Valores S.A., Research Division
Prisma S.A.B. S.A., Research Division
Prosper S.A. Corretora de Valores e Cambio, Research Division
Rabello Y Cia S.A., Research Division
Raimundo Serano McAuliffe
Raymond James & Associates, Inc., Research Division
Raymond James Argentina Sociedad de Bolsa, S.A., Research Division
RBS Research
SADIF-Investment Analytics S.A.
Santander, Equity Research
Socopa Sociedade Corretora Paulista SA
Spinelli SA CVMC, Research Division
Tanner Corredores de Bolsa S.A., Research Division
Tavelli & company, Research Division
Tendência Corretora de Câmbio, Títulos e Valores Mobiliários Ltda., Research Division
Valores Casa de Bolsa S.A., Research Division
Valores Mexicanos Casa de Bolsa, SA de CV, Research Division

List of new Financial Services Firms in London

List of new Financial Services Firms in London


Equity-Research – If you’re looking for a job in financial services, and are struggling to get into a big bank, or if you’re already working for a big bank and would prefer to work for a hedge fund, private equity fund or fund management boutique, this list is for you. There’s no guarantee that they’re all hiring, but their newness suggests that at least some of them might have need of extra staff.

Please note that ‘How big is it?’ refers to the size of a company’s operations in London, not its operations globally.

Affiliated Managers Group

What is it? US-based asset management company and fund of funds with investments in equity-focused boutiques.

How big is it? Large, around 1,600 employees globally.

Agave Partners

What is it? Corporate finance and asset management firm specialised in the clean water and new energy sectors.

How big is it? Tiny.

Aksia Europe

What is it? US-based hedge fund research and advisory firm.

How big is it? Tiny.

Alpstar Capital

What is it? Swiss-based hedge fund.

How big is it? Tiny.

Asperatus Capital

What is it? UK-based hedge fund.

How big is it? Tiny.

Carousel Finance

What is it? Swiss-based asset management firm.

How big is it? Tiny.

China International Capital Corporation

What is it? Large Chinese investment bank

How big is it? Tiny.

CD&R

What is it? UK office of Clayton Dubilier & Rice, a large US private equity fund.

How big is it? Tiny.

Corsair Capital

What is it? US private equity fund focused on the financial services industry.

How big is it? Tiny.

Dodge & Cox Worldwide Investments

What is it? San Francisco-based fund manager with new London subsidiary.

How big is it? Tiny.

Doran Capital Partners

What is it? Korean real estate fund.

How big is it? Tiny.

Echelon Capital Partners

What is it? Property management and investment company.

How big is it? Tiny.

Encore Ventures

What is it? Fund of private equity funds.

How big is it? Tiny.

Farema Capital

What is it? Hedge fund run by industry veteran Emanuele Antonaci.

How big is it? Tiny.

Frog Capital

What is it? Venture Capital house.

How big is it? Tiny.

Gemini Investment Management

What is it? Fund manager set up by former Close Brother MD. Distributes third party funds, plans to launch own funds.

How big is it? Tiny.

Granular Investments

What is it? Structured credit advisor.

How big is it? Tiny.

Guggenheim Investment Advisors

What is it? US-based wealth manager

How big is it? Tiny.

Ipex Capital management

What is it? UK-based venture capital fund.

How big is it? Tiny.

Kenmar Global Investment Management

What is it? US-based fund manager and hedge fund manager

How big is it? Tiny.

LD Capital

What is it? US-based fund manager manager

How big is it? Tiny.

LMR Partners

What is it? Asset manager.

How big is it? Tiny.

MSD Capital Europe

What is it? Investment firm managing the investments of Michael Dell.

How big is it? Tiny.

NewState Partners

What is it? UK-based corporate finance boutique.

How big is it? Tiny.

Oakley Capital Management

What is it? UK-based private equity fund.

How big is it? Tiny.

Orchard Global Asset Management

What is it? Singapore-based hedge fund set up by Paul Horvath, Merrill’s former global head of synthetic credit origination, structuring and distribution.

How big is it? Tiny.

Qatalyst Partners

What is it? London-office of former Credit Suisse technology bank Frank Quattrone’s technology investment banking boutique.

How big is it? Tiny.

Ragnar Capital

What is it? Corporate finance boutique focused on the resources sector.

How big is it? Tiny.

Serone Capital Management

What is it? European multi-strategy hedge fund.

How big is it? Tiny.

Signia Wealth

What is it? Multi-client family office.

How big is it? Tiny.

Stark Investments

What is it? US-based hedge fund manager.

How big is it? Tiny.

Sunningdale Capital

What is it? London-based hedge fund.

How big is it? Tiny.

Townsend Group Europe

What is it? European office of US-based real estate investor.

How big is it? Tiny.

Touchstone Capital

What is it? New Zealand-based distressed debt hedge fund.

How big is it? Tiny.

Trilogy Global Advisors

What is it? European multi-strategy hedge fund.

How big is it? Tiny.

TJ Markets

What is it? US-based asset manager.

How big is it? Small.

Upside Wealth Management

What is it? The London office of a Swiss-based wealth management firm.

How big is it? Tiny.

Vision Investment Management Europe

What is it? The London office of a Hong Kong-based hedge fund.

How big is it? Tiny – the company as a whole employs around 30 people.

Are any of these firms right for you?



Q3 2010 – UPDATE



Adams Street Partners

What is it?: UK subsidiary of global private equity firm.
Current size?: London office still comparatively small, but part of large organisation.

Akur Partners

What is it?: Corporate finance and ECM advisory firm.
Current size?: Small – boutique operation.

Altitude Partners

What is it?: Private equity firm focused on SME investments southern England.
Current size?: Small – boutique operation.

Aperios Partners

What is it?: Boutique investment bank with a focus on the technology sector.
Current size?: Small – boutique operation.

Best of Breed Capital

What is it?: Independent asset management boutique.
Current size?: Small – boutique operation.

Bluefield Partners

What is it?: A European private equity fund manager focusing on solar energy infrastructure investments.
Current size?: Small – boutique operation.

Brookfield Financial Europe

What is it?: The European subsidiary of Brookfield Asset Management, which focuses on property, renewable power and infrastructure. Brookfield Financial offers advisory and investment banking services to these sectors.
Current size?: Brookfield Financial employs 45 globally.

Cairn Financial Advisers

What is it?: Generalist corporate finance advisory firm.
Current size?: Small – boutique operation.

Caisson Investment Management Partners

What is it?: Investment manager focusing on real estate and alternative investment markets.
Current size?: Small, but also has a Dutch operation.

Dalmore Capital

What is it?: Fund manager focusing on infrastructure sector.
Current size?: Small – boutique operation.

Europa Capital

What is it?: Fund manager focusing on real estate.
Current size?: Employs 30 key people in London.

FQS Capital Partners

What is it?: Hedge fund manager taking a quantitative approach.
Current size?: Small – operational hub in London.

Gauss Investments

What is it?: Financial advisory firm focusing on global equity cash and derivative markets.
Current size?: Very small.

HCM UK

What is it?: Alternative investment manager.
Current size?: Small – boutique operation.

Hermes GPE

What is it?: Private equity funds of funds manager – a joint venture between Gartmore Investment Management and Hermes Fund Managers.
Current size?: 28 employees based in London.

Inventive Capital Solutions

What is it?: Private equity firm focusing on life sciences, energy and TMT sectors.
Current size?: Small – boutique operation.

Kilriver Capital

What is it?: Corporate finance and corporate development boutique.
Current size?: Small – staffed by a “small number of highly specialised individuals”.

Medici Advisers

What is it?: “Capital raising organisation” targeted at alternative investment managers.
Current size?: Very small

Metis Energy

What is it?: Financial advisory firm focused on the energy sector.
Current size?: Very small.

Navigant Capital Markets Advisers

What is it?: Boutique corporate finance advisory firm.
Current size?: Small, but subsidiary of Navigant Consulting.

Nean Wealth Advisors

What is it?: Wealth manager.
Current size?: Small – boutique operation.

New River Corporate Finance

What is it?: Corporate finance boutique focusing on energy and infrastructure, media and finance.
Current size?: Small – boutique operation.

Northleaf Capital Partners

What is it?: Private equity fund manager and advisor hailing from Canada.
Current size?: Employs 40 investment professionals globally.

Notion Capital Partners

What is it?: Investment fund targeted at internet-based services sector.
Current size?: Small – run “by entrepreneurs for entrepreneurs”.

Novusmodus

What is it?: Investment adviser to ESB Novusmodus, the investment fund of Irish utilities company ESB. Focuses on energy sector.
Current size?: Small – boutique operation.

Pantheon Private Equity

What is it?: A long-standing private equity firm recently acquired by Affiliated Managers Group. Offices in London, Hong Kong, San Francisco and New York.
Current size?: 143 employees worldwide, 25 senior professionals in London.

Prospect Capital

What is it?: Corporate finance advisory firm for UK SMEs.
Current size?: Small – boutique operation.

Querns Asset Managers

What is it?: Asset management boutique.
Current size?: Small – boutique operation.

Roundstone Capital

What is it?: Real estate investment adviser.
Current size?: Small – boutique operation.

SCIO Capital

What is it?: Asset manager with structured credit approach.
Current size?: Small – boutique operation.

Trader Capital

What is it?: Absolute return advisory company.
Current size?: Small – boutique operation

Vector Commodity Management

What is it?: Hedge fund manager focusing on the oil market.
Current size?: Small – boutique operation

Vigilant Financial

What is it?: Wealth manager.
Current size?: Very small.

Vine Street Capital

What is it?: UK-focused private equity firm.
Current size?: Small – boutique operation.

XCAP

What is it?: New investment bank covering a variety of sectors.
Current size?: Employs 42 staff in London.

White Oak Advisory

What is it?: Financial advisory firm focused on sovereign finance and sovereign debt.
Current size?: Small – boutique operation.

BB&T Corporation

BB&T Corporation


Typical branch office. Located in Lexington, North Carolina




BB&T dates back to 1872, when Alpheus Branch and Thomas Jefferson Hadley founded the "Branch and Hadley" merchant bank in their small hometown of Wilson, North Carolina. After many transactions, mostly with local farmers, Branch bought out Hadley's shares in 1887 and renamed the company to "Branch and Company, Bankers." Two years later, Branch, his father-in-law Gen. Joshua Barnes, Hadley, and three other men, secured a charter from the North Carolina General Assembly to operate the "Wilson Banking and Trust Company." After numerous additional name changes, the company finally settled on the name "Branch Banking and Trust Company". Branch remained an active member in the company until his death in 1893.


BB&T building in downtown Tampa, Florida
BB&T sold Liberty Bonds during World War I and grew to have more than $4 million in assets by 1923. An insurance division was added in 1922, followed by a mortgage division in 1923. As banks across the nation failed as a result of the 1929 Stock Market Crash, BB&T survived; it was the only one to do so in the town of Wilson.
World War II revived BB&T. BB&T's prosperity continued into the 1960s and 1970s, as mergers and acquisitions grew the company to $343 million in assets with new branches in 35 cities. By 1994, BB&T had become North Carolina's largest bank with more than $10.3 billion in assets and 263 offices in 138 cities in the Carolinas, though it has since slipped to second behind Bank of America.
In 1995, BB&T and Southern National Bank, another bank with roots in the eastern part of the state, completed a "merger of equals." In an unusual arrangement, the holding company retained the Southern National name for a few years, but all of its banks took the BB&T name. This gave the new BB&T 437 branches in 220 cities in the Carolinas and Virginia. The bank continued to expand nationwide through the 1990s, purchasing Fidelity Financial Bankshares, First Financial of Petersburg, Maryland Federal Bancorp and Franklin Bancorporation in the Virginia/Maryland area. In 1999, BB&T acquired MainStreet Financial Corp. of Martinsville, Va., and Mason-Dixon Bancshares of Westminster, Md., and further expanded into Georgia and West Virginia after purchasing First Liberty of Macon, Ga., and Matewan Bancshares. The latter deal made BB&T the largest bank in West Virginia, a position it has held on to since.[4]
From 2000 to 2005, BB&T acquired numerous smaller banks, expanding into Tennessee, Kentucky, and even Florida. By Dec. 31, 2005, BB&T Corporation had secured $109.2 billion in assets; operated more than 1,500 banking offices in 11 states and the District of Columbia; and had more than 28,000 employees.
In early 2007 BB&T acquired Coastal Federal Bank which is primarily located in Myrtle Beach, South Carolina. It has been one of the Carolinas' fastest growing banks. After BB&T's announcement of an opportunity for a "merger of equals" it was speculated that it would be a merger with either Regions Financial of Birmingham or Fifth Third of Cincinnati.
In late 2008 the bank accepted $3.1 billion in bailout money through the sale of its preferred shares to the U.S. Treasury's Troubled Asset Relief Program. The bank said in June 2009 that it had received approval to repurchase the shares.[5] Also in June 2009, its chairman, John A. Allison IV delivered a keynote address to a meeting of the Competitive Enterprise Institute, where he claimed to show how government regulation caused the 2007-2009 financial collapse.[6]
On August 14, 2009, it was announced that the deposits and loan accounts of the Colonial Bank were being transferred to BB&T as part of Colonial Bank's receivership by the FDIC.[7] This acquisition added more than 340 branches in Alabama, Florida, Georgia, Nevada and Texas along with approximately $22 billion in assets. This moved BB&T Corporation to the 10th largest commercial bank in the United States based on assets. BB&T quickly flipped the Nevada branch to U.S. Bancorp (dropping it to 10th overall), but hung on to its Texas branches, despite the Texas branches being outside of its historical footprint. As of November 1, 2011, In acquiring BankAtlantic, BB&T will acquire approximately $2.1 billion in loans and assume approximately $3.3 billion in deposits.
[edit]Donations

The company donated $600,000 to Florida Gulf Coast University for the growth of programs at the Lutgert College of Business.
The company donated $350,000 to fund the teaching of "The Moral Foundations of Capitalism" at the Loyola College in Maryland.[8]
The company donated $1.5 million to the University of Georgia to "expand teaching and research into the foundations of capitalism and free market economies".[9]
The company donated $1 million to the University of Central Florida to create the BB&T Program for Business Ethics and fund the teaching of "The Moral Foundations of Capitalism".[10]
The company donated $1.75 million to West Virginia University's College of Business and Economics.The funds will establish a BB&T Chair in Free Market Thought and enhance the school's free market research and teaching programs.[11]
In May 2008, National Public Radio reported that the BB&T Charitable Foundation had given 25 U.S. colleges and universities "several million dollars" to fund programs promoting Ayn Rand's work and economic philosophy.[12]
The company gives each employee $100 every year to donate to a project or organization within their community through the BB&T Lighthouse Project and pays employees for two hours of volunteer work within their community.
In 2012, BB&T donated approximately $500,000 to Veterans Helping Veterans Heal in Winston-Salem, N.C.[13]

Investment Banking: ABN AMRO

ABN AMRO

ABN AMRO Bank N.V. is a Dutch state-owned bank with headquarters in Amsterdam. It was re-established, in its current form, in 2009 following the acquisition and break-up of the original ABN AMRO by a banking consortium consisting of Royal Bank of Scotland Group, Santander Group and Fortis. Following the collapse of Fortis, the acquirer of the Dutch business, it was nationalized by the Dutch government along with Fortis Bank Nederland.

The bank is a product of a long history of mergers and acquisitions that date back to 1765. In 1991 Algemene Bank Nederland (ABN) and AMRO Bank (itself the result of a merger of the Amsterdamsche Bank and the Rotterdamsche Bank in the 1960s) agreed to merge to create the original ABN AMRO. By 2007 ABN AMRO was the second-largest bank in the Netherlands and the eighth-largest in Europe by assets. At that time the magazine The Banker and Fortune Global 500 placed it 15th[7] in the list of world’s biggest banks and it had operations in 63 countries, with over 110,000 employees.

In October 2007 the bank was acquired, in what was at that time the biggest bank takeover in history, by a consortium made up of the Royal Bank of Scotland Group, Fortis and Banco Santander, known as RFS Holdings B.V. Consequently, the bank was divided into three parts, each owned by one of the members of the consortium. However, RBS and Fortis soon ran into serious trouble: the large amount of debt that had been created to fund the takeover had depleted the banks' reserves just at the time the financial crisis of 2007–2010 started. As a result, the Dutch government stepped in and bailed out Fortis in October 2008, before splitting ABN AMRO's Dutch assets (which had primarily been allocated to Fortis) from those owned by RBS, which were effectively taken over by the UK government due to its bail-out of the British bank. The operations owned by Santander, notably those in Italy and Brazil, were merged with Santander, sold off or shut down.

The Dutch government appointed former Dutch finance minister Gerrit Zalm as CEO to restructure and stabilise the bank, and in February 2010 the assets it owned were legally demerged from those owned by RBS.[8] This demerger created two separate organisations, ABN AMRO Bank N.V. and The Royal Bank of Scotland N.V.[9][10] The former was merged with ABN AMRO Private Banking, Fortis Bank Nederland, the private bank MeesPierson (formerly owned by the original ABN AMRO and Fortis) and the diamond bank International Diamond & Jewelry Group to create ABN AMRO Group N.V., with the Fortis name being dropped on 1 July 2010. The remaining parts of the original ABN AMRO still owned by The Royal Bank of Scotland N.V., meanwhile, were renamed, sold or closed down.[11]

The Dutch government has said that ABN AMRO would remain state-owned until at least 2014, after which it would consider a public stock market listing for the bank.

It's easy with Bank of America.

It's easy with Bank of America.
Switching to Bank of America is just a few simple steps away. Make the move today and you’ll have convenient access to thousands of Bank of America ATMs and Banking Centers coast to coast.

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Don’t have an account yet? First, learn about our types of checking accounts


1Move your automated deposits/credits to your new Bank of America account
Move your automated deposits/credits to your new Bank of America account with our helpful Automated Payment/Deposit Change Request form. Fill it in, print it out and then either fax it or take it to your old bank. It will help communicate how you want to reassign your automatic deposits so you continue to receive funds due you.

To establish or transfer automated credits/deposits, you need the following information:

Deposit initiator's name and address
Employer or deposit initiator's name and address
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TIP: To find your routing number, you can either:
Sign in to Online Banking and click on the show routing numbers link on the accounts details page
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2Transfer automatic payments/debits to your new Bank of America account
Move your automated payments/debits to your new Bank of America account with our helpful Automated Payment/Deposit Change Request form. Print it, fill it out and then either fax it or take it to your old bank. It will help communicate how you want to cancel or transfer automatic payments so none are late or missed.

To cancel or to transfer automatic payments from your former bank account to your new Bank of America account, you need the following information.

Copy of your latest statement with your billing information
Bank of America account number (for transfers)
Bank of America ACH routing/transit number (for transfers)
Former bank account information (for canceled payments)
3Close your old Account
Stop using your former bank account, but be sure to keep enough funds in it to cover any outstanding checks, automatic withdrawals, and automatic payments.
Balance your books on your old account, making sure any outstanding checks clear before you close it.
Once your last check, automatic withdrawal, and automatic payment has cleared, you are ready to close your former accounts. Financial institutions require a request in writing including a signature to close an account. Use our handy Close Account Request form. It may take up to six weeks for your closing request to be processed.
Remember to destroy your old checks and cards.
4Start using your new checking account
Enroll in Online Banking first, and you’ll find setting up most everything else on this checklist is a snap.
Make deposits to get your account funded at an ATM, by transferring funds with Online Banking, by phone or at a Banking Center.
Activate your Debit Card by calling the telephone number on your card, at the nearest ATM with your card and PIN, at a Bank of America Banking Center, or by making a purchase with your card and PIN.
TIP: Fund your account and activate your card at the same time at an ATM.
Order checks at bankofamerica.com/checks or by calling 800.234.6147 (English) toll-free if you haven’t received your checks or need additional checks or business deposit tickets.
TIP: For easier reorders, sign in to Online Banking and click the customer service tab.

Partnering with the City of Chicago to Address Abandoned Properties

Partnering with the City of Chicago to Address Abandoned Properties

Mayor Richard M. Daley and Illinois Market President Tim Maloney announced that Bank of America is working in partnership with the City of Chicago to lessen the impact of vacant properties on the city’s neighborhoods. New initiatives include donating vacant foreclosed properties to the city and to nonprofits for reuse, redevelopment and neighborhood revitalization.

In Chicago and elsewhere, many homeowners faced with economic hardship have walked away from their homes, leaving behind vacant and deteriorating properties. To address the growing issue of neighborhood blight, the bank is collaborating with the City of Chicago on several measures.

Now when a mortgage is delinquent and the property is identified as vacant and abandoned, Bank of America will register the property with the city. It will also identify up to 150 such properties in default and refer them to a newly created Cook County court call, intended to move vacant and abandoned properties through the foreclosure process and return them to productive use. The bank will contribute to the costs of demolishing deteriorating buildings on the donated properties to relieve the financial burden to the city. And it will donate foreclosed and vacant condominiums to the nonprofit Community Investment Corporation (CIC) to convert them to affordable rental housing.

This vacant and abandoned building foreclosure pilot program is at the heart of Bank of America's revitalization efforts in collaboration with the City of Chicago. Bank of America will file foreclosure actions on eligible properties in a new Cook County vacant and abandoned building court call. The idea is that this expedited foreclosure process will significantly reduce the foreclosure time frame—currently an average of 18 months—for vacant and abandoned properties.

How Affordable Housing Is Allowing Seniors to Continue Calling Their Neighborhood Home

How Affordable Housing Is Allowing Seniors to Continue Calling Their Neighborhood Home

Paul Woollard, Executive Director, Affordable Housing Group of N.C.: Cherry Gardens has opened some eyes, statewide and in Charlotte, of what affordable housing looks like, what it can be, and what it can do. It’s special because of the people that are here, many of whom have lived in this neighborhood their entire lives. But as their property values rise, people who own [have], especially if they are on a fixed income, like seniors usually are, will get priced out of their neighborhood, so its a challenge many times to go find a place they can afford.

Beatrice W. McMurray, Resident, Cherry Gardens: For three years everything has gone up, and for three years my social security has stayed flat, so I made the choice to move here.

Jimmy Royster, Development Associate, Affordable Housing Group of N.C.: What we are trying to do is not only build homes that are safe and affordable, but doing them as green as possible. We are cutting down power needs, cutting down our carbon footprint. For our residents, they are seeing a savings in their power bill between 40 and 50 dollars. So that’s 40 or 50 dollars, each month, that they can apply to going on a trip, helping their grandkids go to college. That’s a great benefit to our residents.

Paul Woollard, Executive Director, Affordable Housing Group of N.C.: Using safer products, from tile to carpet to paint—and also the insulation and the ventilation in the units—was all to the health of the residents themselves. Cherry Gardens is a home run. There is more than just the housing; its shelter and it’s a community.

Beatrice W. McMurray, Resident, Cherry Gardens: The best part of living here at Cherry Gardens—it’s like a family, we look out for one another. You know we share. It’s a pleasure.

Jimmy Royster, Development Associate, Affordable Housing Group of N.C.: Cherry Gardens was built with a lot of love and care, and making it green, making it affordable is just adding to that wonderful fabric that is Charlotte.

Paul Woollard, Executive Director, Affordable Housing Group of N.C.: Cherry Gardens specifically wouldn’t be here without Bank of America. The construction loan was through them. They worked with us early and creatively to make this happen. They are excited about what we are trying to do and oftentimes can bring different perspectives that we haven’t thought of before, because of the wide range of knowledge that they have in the affordable housing industry.

Jimmy Royster, Development Associate, Affordable Housing Group of N.C.: A lot of folks said we couldn’t make it green, but Bank of America are all for it, um, very supportive of it.

Paul Woollard, Executive Director, Affordable Housing Group of N.C.: We said we wanted a new paradigm that no one had ever done before, and they looked at us and said, “Tell me about it." I would hope that Cherry [Gardens] would be seen as an example, that affordable housing can be green. There are so many ways that we are better off because of this type of a development, and it’s just wonderful to see.

ank of America ranked 15th on The Civic 50 list for community engagement

ank of America ranked 15th on The Civic 50 list for community engagement

The National Conference on Citizenship and Points of Light, the nation’s definitive experts on civic engagement, in partnership with Bloomberg LP, recently announced that Bank of America has been named to The Civic 50 list, placing at #15. The list is the first comprehensive ranking of S&P 500 companies that best use their time, talent and resources to improve the quality of life in the communities where they do business.

Companies were evaluated on several elements, including leadership, measurement and strategy, design, employee civic health, community partnerships, cause alignment and transparency.

Bank of America Announces More Than $22 Million in Grants to Housing Nonprofits

Bank of America Announces More Than $22 Million in Grants to Housing Nonprofits



The Bank of America Charitable Foundation today announced that it is awarding $22 million in grants to nonprofits that build and rehab affordable housing, offer foreclosure prevention services and homeowner counseling, and provide other services intended to revitalize neighborhoods and help working families find and keep suitable homes.

These grants will support more than 650 national and local community nonprofits in 34 states. In addition, information provided by the nonprofit grantees estimates the funding will benefit more than 31 million people, providing nearly 8,000 new affordable housing units and rehabbing over 11,000 units. Supporting housing nonprofits is one component of the company’s community focus on housing, jobs and hunger – three areas that are critical to stimulating the national economic recovery. Bank of America recently issued a request for proposals for nonprofits providing education, job training and workforce success programs and will issue a similar request related to critical needs, including hunger later this year. The company continues to focus on low- and moderate-income communities that have been hardest hit in the economic downturn.

“Bank of America recognizes that housing plays a critical role in stabilizing communities and advancing economic development, and we continue to look for ways to support innovative programs that will help individuals and families access and retain affordable housing,” said Kerry Sullivan, president, Bank of America Charitable Foundation. “Our partnerships with local and national organizations that address housing needs are just one of the ways we’re working to help improve local economies across the country.”

As part of the company’s integrated approach to addressing community challenges, about 42 percent of the nonprofits receiving support from Bank of America offer housing services alongside other programs designed to strengthen families’ financial stability, such as SNAP (Supplemental Nutrition Assistance Program, formerly the Food Stamp Program). Additionally, some of these nonprofits also work to ensure that affordable housing is energy efficient, which not only reduces environmental impacts but also lowers energy costs for renters and homeowners.

One of the national grant recipients is Mercy Housing, Inc., which will receive $375,000 to support the preservation of existing affordable housing, develop new units and provide integrated services that help families facing foreclosure stay in their homes, achieve financial stability and build assets. Mercy Housing has programs in Alabama, California, Georgia, Idaho, Illinois, South Carolina, Washington and Wisconsin.

Most of the funding announced today supports local nonprofits like Plymouth Housing Group in Seattle, Washington, which works to eliminate homelessness and support low-income people in downtown Seattle. The $25,000 grant will support the expansion of a new initiative, The Recovery Support Program, which will assist homeless adults recovering from addiction with housing, counseling and in-house support. The Recovery Support Program will be available at The Williams Apartments, a new 81-unit building now under construction in the South Lake Union neighborhood. Half of the 81 residences will be reserved for homeless veterans. The Williams Apartments will be a LEED®-certified, sustainably-built building.

In addition to financial support, Bank of America’s employees give their time, passion and expertise to address housing needs through volunteerism. In 2011, bank employees donated more than 455,000 service hours in partnership with organizations like Habitat for Humanity, Rebuilding Together and Operation Homefront.

Philanthropic and volunteer support are just a few of the ways that Bank of America continues to address the foreclosure crisis and help revitalize neighborhoods. The company has completed more than one million loan modifications since 2008 and participated in more than 1,000 mortgage outreach events since 2009. Bank of America has also opened 50 customer assistance centers in 25 states hardest hit by foreclosures, providing distressed homeowners face-to-face counseling and assistance.

Bank of America is the largest investor in Community Development Financial Institutions (CDFIs), with more than $1 billion in capital in more than 200 CDFIs in 45 U.S. states, the District of Columbia and Puerto Rico, financing affordable housing, community facilities, nonprofits, small businesses and micro-enterprises. In 2011, the company invested more than $443 million in CDFIs that primarily fund affordable housing initiatives across the U.S.

Bank of America Corporate Social Responsibility
Bank of America’s commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way across more than 100 markets around the world, to deliver for shareholders, customers, clients and employees. Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create shared value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture. Learn more at About.BankofAmerica.com and follow us on Twitter at @BofA_Community.

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