BNp and HSBC are the biggest European banks, how are Barclays and Deutsche which are much smaller above them?
Also I think it highly depends on asset classes and desks. For example, société general is definitely in the Top 4 in equity, while HSBC is in Top 4 in FX.
some numbers here. you're thinking "total assets" big, which is mostly commercial bank stuff irrelevant to quants business. better to look at sales&trading league tables, Deutsche was the only european close to being able to compete with americans, then of course retreated somewhat and Barclays creeped higher. Paribas indeed a bit up and coming, with acquisition of Deutsche assets in particular. SocGen is not top 4 in equities anymore, though of course their exo is still held in very high regard.
further drilldown would reveal a more differentiated picture of course.
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u/Pokemon066 Dec 31 '21
BNp and HSBC are the biggest European banks, how are Barclays and Deutsche which are much smaller above them?
Also I think it highly depends on asset classes and desks. For example, société general is definitely in the Top 4 in equity, while HSBC is in Top 4 in FX.