CIBC World Markets is leading in investment banking market penetration, with approximately 63% of large Canadian companies citing the firm as an important investment banking relationship for them, reports Greenwich Associates.
“After gaining new corporate relationships in mergers & acquisitions over the past 12 months, CIBC tops the market penetration scores of BMO Capital Markets and RBC Capital Markets, each of which is cited as an important investment banking relationship by 54%-55% of large Canadian companies,” it says. Scotia ranks fourth with a market penetration score of 45%, it notes; followed by TD Securities at 36%.
RBC Capital Markets remains the leader in the debt markets, with 64% of large Canadian companies and governments naming the firm as an important relationship for debt capital markets services. This gives it a large lead over second place firms, BMO and CIBC, which have market penetration scores of 49%-50%. TDSI and Scotia come next with 43% and 40% market penetration, respectively, in Canadian debt markets.