Who&#x27;s bigger: BNP or Soc Gen

BNP Paribas is bigger in terms of market cap and generally bigger overall, but that's because BNP buying out Paribas rather than Soc Gen. Also, Paribas has a large retail arm, so on the IBD side they may be close.

Your friend shouldn't be that excited though - they have almost the lowest intern pay on the street. If he's doing equity derivatives though, he's got a good internship b/c Soc Gen is a market leader for derivatives.

Reply 2

PortfolioManager

SocGen Market Cap: 45B

BNP Paribas Market Cap: 85B

enough said.

Reply 3

Knogle

16

Money isn't everything - yes, even in IB - especially for an intern. No need to be a wet blanket.

Reply 4

rboogie

PortfolioManager

SocGen Market Cap: 45B

BNP Paribas Market Cap: 85B

enough said.

How much of that is their retail arm?

Reply 5

As investment banks, it's hard to get out the figures unless you want to go through downloading annual reports to see the cut of the pies.

Reply 6

shady lane

OP

16

So can I call this guy on BS or what?

Here's a tip to guys by the way: if you meet a woman and she is going into finance, don't try to talk down to her. This guy is now the second man I've recently met who, upon finding out what I'll be doing in a few months, said "Oh that's an internship then" or "you must be doing something in middle office." You will get NO ASS if you do this. :wink:

Reply 7

CityMonkey

11

Knogle

Money isn't everything - yes, even in IB - especially for an intern. No need to be a wet blanket.

BNP Paribas are stronger in the derivatives arena, atleast that's my opinon. Also having a good connection with the fixed income team at BNP Paribas, I would work for them over SocGen anyday.

Reply 8

rboogie

MonteCristo

BNP Paribas are stronger in the derivatives arena, atleast that's my opinon. Also having a good connection with the fixed income team at BNP Paribas, I would work for them over SocGen anyday.

probably in credit, but not in equity - SocGen is much much stronger than BNP for equity derivatives these days - but they are both market leaders.

Reply 9

memcorp

The French IB's have a very different culture to most, I wouldn't really boast about going to either of them. "Biggest IB in France", that’s like saying Amsterdam is the highest place in Holland, or Victoria beckham is the best looking spice girl.

Reply 10

Econ4m1t

1

Soc Gen is the BEST Investment bank in THE WORLD for Equity Derivatives. Their M & A divison is poor.. trading especially credit is very good.
saying that they have the best Cost to Revenues ratio out of every investment bank in the world...yes..its true their interns dont get paid as much..its between 26k-28k per rota.... but once your a graduate..pay is very competetive..

One thing ive noticed about the french ..is that they have very poor work ethic....
they have around 2-3 hour lunch breaks in france..
but its definitely an up and coming IB and are getting more n more exposure to different deals. they've got a great platform with equity derivatives and they beat even goldman sachs in that dept.
Give it till about 2015..Im sure they'll be in the top 6-7 IB's in the world

Reply 11

Econ4m1t

Soc Gen is the BEST Investment bank in THE WORLD for Equity Derivatives. Their M & A divison is poor.. trading especially credit is very good.
saying that they have the best Cost to Revenues ratio out of every investment bank in the world...yes..its true their interns dont get paid as much..its between 26k-28k per rota.... but once your a graduate..pay is very competetive..

One thing ive noticed about the french ..is that they have very poor work ethic....
they have around 2-3 hour lunch breaks in france..
but its definitely an up and coming IB and are getting more n more exposure to different deals. they've got a great platform with equity derivatives and they beat even goldman sachs in that dept.
Give it till about 2015..Im sure they'll be in the top 6-7 IB's in the world

Think you need learn a little more about what it means to be the best in equity derivatives and how much material difference that can actually make to a bank.

Reply 12

Econ4m1t

1

President_Ben

Think you need learn a little more about what it means to be the best in equity derivatives and how much material difference that can actually make to a bank.

nowhere did i say best equity derivatives house makes you the biggest bank..

just that they are the best in equity derivatives..

Reply 13

PortfolioManager

Econ4m1t

Soc Gen is the BEST Investment bank in THE WORLD for Equity Derivatives.

Contrary to Institutional Investor which ranked BNP Paribas as the top dog in Equity Derivs for this year....as voted by the financial community.

Reply 14

but its definitely an up and coming IB and are getting more n more exposure to different deals. they've got a great platform with equity derivatives and they beat even goldman sachs in that dept.
Give it till about 2015..Im sure they'll be in the top 6-7 IB's in the world

What deals? Do you understand what makes BNP or SocGen such good equity deriv houses? And what difference that even makes in the end?

Do you realise how little their technical superiority in equity derivs actually translates into money?

There's more to trading than pricing. And there's more to being a top 6-7 bank than better pricing too.

SocGen and BNP happen to a little ahead of the rest when it comes to pricing the more exotic equity derivs and so are only have a really major advanatge when dealing with some relatively exotic hedge funds (ie. not the equity long-shorts who still dominate hedge fund space).

If you need vanilla derivs, it's very possible that SocGen and BNP could still be best bid and best offer because their pricing is slightly better, their hedges are more efficient because they can cross with some exotic risks on their books a little better - but the other investment banks offer something else. Other services. Good ones. Notably, prime brokerage services.

So, erm, 'listen fool'

'...u jus wont stop wit ur stupit dumb ass comments will u'

Because they aren't helping anyone.

Reply 15

PortfolioManager

President_Ben

Do you realise how little their technical superiority in equity derivs actually translates into money? .

It can though. Specially when derivs enter new markets, brand can be important. Rankings translate to money for those involved as analysts/sales/directors/etc. as they use published rankings to leverage their bonuses.

Reply 16