Or were they all removed due to Volcker. Secondly, is it possible to move into L/S equity from a restructuring background. Thanks.
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GS has SSG still, dunno how they can skirt around Volcker.
I thought SSG was technically under "investing and lending" (maybe they call it something different now) where they're deploying the bank's capital in private / structured credit deals. Basically lending out money like a bank is supposed to do. Maybe they syndicate out some pieces? But I doubt they are punting around in these types of securities, imagine they are super illiquid. Anyway I think that's why they can still have SSG
As far as I know SSG was moved into the Merchant Banking Division a couple of years ago and recently MBD was moved under Asset Management
UBS has its OConnor strats which does some pretty cool stuff, JP Morgan has Lynstone, Guggenheim is an investment firm with a bank, Citi I think still has a good distressed group, Jefferies had a distressed group not sure if that has ended.
I thought the volcker rule forbade banks from having hedge funds; but even if one exists, why are you limiting your search to hedge funds owned by banks? Why not also consider working at a standalone hedge fund? Or if you're willing to work at a bank-owned hedge fund, then why not consider working at the rest of the bank?
For most roles, the day-to-day work at a bank is not that different than the day-to-day work at a hedge fund. The comp is sometimes (not always) higher at hedge funds, but if you're willing to work at a bank owned hedge fund anyway, then you'll be in the bank's pay-range rules so I wouldn't expect it to pay better than any other role.
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