Corporate Strategy team in Investment Bank
I'm interviewing for jobs in the Corporate Strategy teams of major international investment banks, based in Asia. I'd be going in around Director level.
I'd like some insight into:
(1) what exit opportunities would be from this sort of role – internally and externally. It seems to me that to be promoted directly up to MD my boss would need to move on first. So I am wondering what other roles within the bank I could go for from this position, and what the typical career paths are for consultants that go into i-banks in this sort of position. Is it possible to work up to management positions in the bank (as you could if you went into a similar role in other industries) or not?
(2) I have a sense that the corporate strategy team in an investment bank is not as influential as it is in other businesses – because of the nature of investment bankers, they are likely to think they know better about what markets to enter, what products to launch etc than a strategy consultant, and so you may be relegated to more looking at more operational issues. I'm also not sure how much involvement you'd have with acquisitions/divestments, given the banks could turn to their in house M&A bankers to assist with this? Any comments on this?
I'd be grateful for any insight anyone is able to share on the above!
For what's it's worth, James Gorman came in as a strategy consultant and ended up running Merrill Lynch PWM and now Morgan Stanley.... strategy consultants have more opportunities in retail banking and asset management (non-investment role), rather than traditional investment banking and capital markets, where direct experience is more valued at the management level. But banks are so big and complicated that there is definitely a lot of opportunity for ex-consultants to add a lot of value. I would ask what some sample career paths are for people at the bank. Director anywhere in a bank is a high position and the comp will be great (probably higher than your current role over the next several years)...
Thanks MH. That's interesting re James Gorman, I didn't know that was his background.
Do you have any knowledge/idea of what the typical comp would be for such roles?
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