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Is it viewed as a better part of the business or a promotion? I know a couple internal wholesalers who took a pay hit to move over with us in investments. There was no bad blood whatsoever. Similar situation with somebody from risk who took a the junior PM role for a couple billion in assets when the #2 left unexpectedly. (I'm not sure we ever even officially advertised the opening) A boss that doesn't support your career development even if you're moving to a different reporting line isn't somebody you want to work for in the first place. They're likely to be ignored if they try to retaliate, and even if not, they are likely to become marginalized within the firm.
EDIT: Talk to your boss though. Explain to him/her that it's not a dislike of your role, but it's a desire to move up in the firm. I have a former boss who is a bit of a cunt, but we still work on projects even though the actual reporting line from him to me basically involves about 14 levels up and down. I know him, he knows me, he's a lot nicer now, and things run a lot smoother. People don't normally get the value of contacts outside of their vertical, but they are HUGE.
Very well said thank you - definitely see the logic in the fact that a manager that doesn't want your career to develop isn't a good manager. Will shoot the shot
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