London - HSBC TMT vs FIG for summer analyst

I would say neither to be perfectly honest with you. You don't want to work at HSBC if your goal is to have a decent M&A deal flow where your bank is the lead advisor. With that being said, I would go for the TMT group since it gives you a bit more transferable experience if you ever want to interview for another investment bank after your SA (for a full-time position). My honest advice to you is to try hard and get a job at one of the American banks in London or Lazard (I don't know how other EBs are in London). Outside of that, maybe DB/CS/UBS/BarCap...but don't go to HSBC as a full-time employee....it's going to limit your potential if you ever want to lateral into another more legit bank or to the buyside etc.