Deloitte - Investment Bank?

[silvert99]

Would you consider Deloitte an investment bank? Does the fact that they offer corporate finance services, raising capital, m&a advice etc make them an investment bank or equivalent?

[fido]

They offer IB services but are not an IB.

[matrignano]

Exactly.
They don't put any balance sheet to use AFAIK, so they may be able to provide (limited/niche) advice, but you'll still need a real bank to fulfill your financing needs.

[silvert99]

Thanks guys, that gives me a bit more clarity on it..

So.. You couldn't use the fact that you worked for them (in an admin role of the Corp finance dept) as an example to get past the dreaded "IB experience necessary" on job specs..

[10 Pence Short]

They're more in the advisor spectrum. Incidentally, this week the first accountancy providor was licensed as an ABS (alternate business structure, allowing non-legal-professional owned businesses to offer regulated legal services) by the SRA to be able to offer legal services. My OH is an M&A lawyer. When she worked for Allen Overy she was on secondment to Deloitte for a while.

[HannsG]

silvert99 said:

Would you consider Deloitte an investment bank? Does the fact that they offer corporate finance services, raising capital, m&a advice etc make them an investment bank or equivalent?

Nowhere near an Investment bank. Do they have a Global Technology Division with allocations in excess of €3 Billion Euros each month?

I work for a Tier 1 IB. The figures are measured in the billions on a monthly basis, I doubt Deloitte even touch these figures....

If the Interviewers have a modicum of IB knowledge, dont try and blag it..

[10 Pence Short]

HannsG said:

Nowhere near an Investment bank. Do they have a Global Technology Division with allocations in excess of €3 Billion Euros each month?

I work for a Tier 1 IB. The figures are measured in the billions on a monthly basis, I doubt Deloitte even touch these figures....

If the Interviewers have a modicum of IB knowledge, dont try and blag it..

Deliotte enjoy strong revenues. 2012 was $31bn from memory. Obviously not cash in the bank, but they're responsible for managing/advising an awful lot of money outside of their own balance sheet.

[AJS-]

My understanding of it would be that they're an advisory business rather than a proper IB. A bit of a grey area since a lot of IB work is advisory, but my understanding of the difference would be that a proper IB can actually issue and trade securities while an advisory can not.

Might vary with regulatory regimes though?

[Kapenta]

Deloitte are a Consultancy, much the same as Accenture, CapGemini, KPMG etc

Another spinoff from the days when CA firms were a catch-all (Deloitte, Haskins, Sells - Deloitte, Touche-Ross)

[nsa]

HannsG said:

Nowhere near an Investment bank. Do they have a Global Technology Division with allocations in excess of €3 Billion Euros each month?

None of this relates to investment banking that I can work out. "Allocations" doesn't mean anything. If it's an IT department, it's a cost centre, not a revenue generator. And an investment bank is defined by function, not size.

OP - You've worked for the corporate finance department of an accountancy firm. Put "investment banking services" in the description if you really want to.

[AyBee]

The interviewers will know what Deloitte is - if you did advisory of IB clients or otherwise, you can probably get around the IB experience requirement but otherwise, no.

[silvert99]

At this stage it was just the how to play the "investment banking experience required" on the jobsite or agency. If it got to the interview stage I would have no problem explaining what I did and how it is relevant..

[Alex]

HannsG said:

Nowhere near an Investment bank. Do they have a Global Technology Division with allocations in excess of €3 Billion Euros each month?

I work for a Tier 1 IB. The figures are measured in the billions on a monthly basis, I doubt Deloitte even touch these figures....

If the Interviewers have a modicum of IB knowledge, dont try and blag it..

Give me an example of a Tier 2 IB.

[mx stu]

silvert99 said:

At this stage it was just the how to play the "investment banking experience required" on the jobsite or agency. If it got to the interview stage I would have no problem explaining what I did and how it is relevant..

I would say you have Corporate Finance experience and then expand to include as many cross over items as possible such as transaction support, valuation etc

[AJS-]

Your best bet is to be honest about your experience. Your chances of bull stting a decent recruitment consultant are slim and your chances of bull stting an investment banker about it practically zero. On the plua side if you have the core skills and the willingness to learn, and some exposure to that environment then your chances of getting a job in that field are pretty decent.

[Landlord]

What's the role (broadly if you don't want to divulge too much info)?

[Shirt587]

AJS- said:

Your chances of bull stting a decent recruitment consultant are slim

On the principle of "Never bullst a bullstter".

[Grenoble]

Kapenta said:

Deloitte are a Consultancy, much the same as Accenture, CapGemini, KPMG etc

Another spinoff from the days when CA firms were a catch-all (Deloitte, Haskins, Sells - Deloitte, Touche-Ross)

You are mixing your firms up...

Accenture, Capgemini - consulting/technology/outsourcing

Deloitte/PWC/KPMG, etc - advisory firms with some consulting arms with niche specialisms.

The difference? Advisory firms deal with company audit, M&A, accounts, etc - Accenture and Capgemini can't and don't. The biggest crossover is in consulting.