Pros
The firm has a broad global reach with market-leading capabilities in almost all markets. If the firm's current restructuring efforts are effective in integrating all the disparate areas into One Firm, it will eventually provide a phenomenal platform within which to build a global career.
Cons
The One Firm integration has not yet been executed effectively, resulting in disparate appetities for and analysis of risk and innovation in different areas of the firm, creating frustration for many, and stimying some excellent business efforts while allowing other, less appropriate efforts to barrel forward unchecked (a la subprime). The difficulty of finding the "experts" in each area and the lack of a real, centralized knowledge base also makes it difficult to navigate beyond your area. However, these things are in development.