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I never expected to revisit the topic of bulgebracket banks so quickly because the full list changes slowly, and we updated it a few years ago. But the events of 2023, including the UBS acquisition of Credit Suisse and the rise of firms like Wells Fargo, Jefferies, and RBC, have shaken up the traditional list.
Technology & Services: This one includes any company that is built on top of sports, such as firms in the gambling, data/analytics, software, and live event sectors. Is it suddenly popular among a certain demographic due to recent events or player relationships (e.g., How many live viewers does the average game have?
But a spin-off, divestiture, restructuring, or another major event is likely.” First, Credit Suisse is obviously no longer a bulgebracket bank , so I’ll have to update that article. But that would have happened anyway because of the firm’s plans to spin off its IB group into Michael Klein’s advisory firm, M.
This has created an ongoing opportunity for mid-tier prime brokers, particularly those with broad asset class and geographical capabilities comparable to those of the bulgebracket banks. This is an ongoing pattern that we suspect will continue for some time.”
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