Buy-side credit offer vs bank credit in London, but goal is HK/SG. Which gets me there faster / opens more options?
~3-4 years in corporate banking. Medium-term goal is relocating to Hong Kong or Singapore. Trying to figure out which of these two options gives me the best shot at getting there (either internally and externally) and which opens more doors longer term.
Got an offer from a top tier private credit platform in portfolio management. Role is mostly standard PM: monitoring post-origination, refinances, managing distressed names, preparing quarterly investor data, covenants, valuations, cap structure analysis, etc. We don't really do our own modelling given we don't underwrite, so it's mostly reusing origination models. Harder hours, less flexibility, in office most days, but very strong brand and platform vs my current place. They have a APAC presence so internal mobility to HK/SG is at least plausible, and the buy-side label should in theory open more options down the line (other funds, special sits, restructuring, etc).
My current (UK bank) is asking me to stay. Equal comp. Same team, same responsibilities: annual renewals, A LOT OF admin / dull work, etc, but you also get to do some nice new to bank transactions (mostly vanilla IG RCFs/TLs/trade) but also some interesting segments/geographies underserved by other banks which are non IG. Given I do the origination bits, I get good exposure to deal teams and to doing a whole memo/high level modelling, etc. That's probably 30% of the job though, the rest is much more admin/monitoring/renewal/policy adherence. WLB is amazing, almost no mandatory office policy. The bank has a strong APAC footprint and internal transfers happen, but nothing guaranteed and they tend to hire locals in HK/SG. Staying keeps me as more of a credit generalist, which might mean more flexibility in terms of future roles but doesn't really change my skillset.
So both are London seats, both have a route to Asia on paper, but they're very different paths:
- Fund route: stronger brand, more technical/specialist skillset (private credit PM), opens up buy-side options long term, but pigeonholes me a bit and not pure origination
- Bank route: keeps me as more of a generalist with some deal exposure, easier internal APAC route in theory given the franchise, broader optionality across bank seats, but the day-to-day doesn't really change and verbal promises about future moves can't really be relied on
Has anyone made a similar move and ended up in HK or SG? I would like know whether
- PC funds in London actually move people to APAC, or if it's better to just apply directly to their Asia offices when something opens and stay at my current place instead
- Whether a UK bank with strong Asia presence is actually a faster route to a transfer than people think - given their strong local presence, for more "generalist" roles like mine, they don't really need to hire from abroad especially at junior level
- Whether being labelled "private credit PM" vs "bank corporate credit" matters more for the APAC credit job market, and which opens more doors over a 3-5 year horizon
Based on the most helpful WSO content, here’s how your options stack up for achieving your goal of relocating to Hong Kong or Singapore and maximizing long-term career flexibility:
Private Credit Fund Route
Pros:
Cons:
Bank Route
Pros:
Cons:
Key Considerations for APAC Relocation
Private Credit Funds in APAC:
UK Bank with Strong APAC Presence:
Label and Skillset:
Recommendation
If your medium-term goal is relocating to HK/SG and you’re open to buy-side roles, the private credit fund route is likely the better option. It offers a stronger brand, a more specialized skillset, and better long-term optionality in APAC’s growing private credit market. While internal mobility isn’t guaranteed, the fund’s APAC presence gives you a plausible path, and the buy-side label will make you more competitive for external opportunities.
If you prioritize work-life balance and prefer a broader range of roles in APAC (e.g., corporate banking, relationship management), staying at the bank could be a safer choice. However, you’ll need to actively network and push for an internal transfer, as banks often prioritize local hires for junior roles in HK/SG.
Sources: Buy-side vs sell-side path to credit funds, Best direct lending shops in Asia, I Need You, WSO + Its Time To Move - Asia Job Search, Undergraduate Opportunities - Credit Funds
PC Buyside. Sellside less incentive to lateral non-asians unless u r quite senior.
If we're talking about the Lion bank, relocating back to HK should be pretty seamless as long as you've built solid connection with the HK team (even as a non-Chinese speaker). PC in HK is structurally different vs. EU/US , but the megafunds are actively pushing for APAC expansion right now
Have you seen anyone on your team actually get relocated to another region? If the answer's "not really," then PC sounds like the move, prestige skillset in a hot space
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