I've been told by several people that FIG teams typically do their own M&A transactions internally, since the generalist M&A team doesn't understand the more esoteric methods of financial institution accounting and valuation. Is this true?
Also, if I'm going into FIG and work on M&A deals, could I leverage this experience to lateral into the M&A team at my bank?
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Anything is possible
Anyone else?
Jokes aside, I've heard/read of plenty of people lateraling to other groups within their bank. Having done some M&A (even FIG) can only help. This will depend to a large extent on the bank you're at at how they handle/view internal mobility - for example, I know people at banks who have been in 2-3 groups in 3-4 years etc.
This is very helpful, thanks!
Would you say lateraling at one of the big universal BBs (BAML, Citi, JPM) is harder than a leaner shop like GS/MS? I'm curious if the bureaucracy of the larger institutions gets in the way of mobility between groups.
Can't really answer that with confidence and don't want to give you misinfrmation. Probably best to ask someone at the bank if at all possible, and if not post a question about the specific bank on WSO? Someone is bound to know what it's like at your bank.
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