Pivoting from a career in commercial banking to asset management. Is this realistic?
I've relocated to London from Canada after a 6-year commercial banking career. I'm currently a bartender and picking up odd jobs to pay the bills (it's been nearly 2 months). I'm enjoying this time away from corporate life, but know I need to start earning/saving for things down the road. I'm hoping to pivot to a career in AM as I believe it would better aligns to my skills and interests. Posting to see thoughts from the hive. I probably should have posted this before quitting my job and moving to the UK, but here we are.
I ended as an senior credit manager at one of Canada'd big 5 banks. I enjoyed part of the work, had great colleagues, and wasn't worked too hard. However, I hated how much of a cartel the banking business in Canada is, hated admitting I was a banker at parties, and did not see eye-to-eye with management. In my view, management was always prioritizing s**tty deals sourced from their contacts, didn't think from first principals, and overall weren't people I would describe as role models.
I moved to the UK with my fiancee as we both have a goal of living and working in London. We're planning on staying in the UK for 3-years before moving back to Canada to have kids/etc. I completed my CFA when I was at the bank and am currently a CFA charterholder, which I'm hoping will be a feather in the cap to score an asset management job.
I've enjoy thinking about businesses, investing in stocks, and consuming as much investing knowledge as possible (The Globe, FT, various podcasts, etc.). I'd describe myself as a value/GARP investor, and have analyzed numerous materials, infrastructure, consumer discretionary, financial stocks. I employ a top-down approach (consumer trends, changing legislation, demographics, energy transition, etc.) to find equities that may be aligned to a particular theme and seek companies that have a bit of a misunderstood niche in serving customers. I use comparable/ROIC analysis to evaluate whether. these companies may be attractive, and use projections and crude DCF analysis to come to target prices. I enjoy researching and learning about politics, innovations, consumer behavior etc. that may explain risks/opportunities to positions.
I'm currently starting leverage my CFA to attend various events in London and have started putting together investment recommendations to prepare for potential job interviews. However, how are the prospects of me finding an analyst/associate role that will get me a foot in the door? Money isn't a priority at the minute, so would be happy taking a junior role. Is a pivot feasible given my background? What steps should I take? any other considerations/careers to look into? I'm not afraid of working hard but want to be doing something I'm interested in, especially as I'm nearly 30 and life is looming. Thoughts/opinions welcome.
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