FIG Mid-tier BB --> HF
Hi,
I wanted to know the interest from HFs for FIG analysts in particular. Any anecdotes/tips/insights would be appreciated.
Would be active in the replies, so open to converse on this.
Seen this happen a few times over the past couple of years in London, either to large name pods to cover specific FIG verticals such as banks or insurance (think Citadel, Millennium) or to smaller long-only or long/short as generalist. Believe all were headhunter-led
I see, I am not limited to FIG, but would assume that is the easiest approach- not sure if the coverage matters a lot for HFs?
Also, is recruiting from banking common for HFs in London after 1-2 years of being an analyst or is this common for associates?
Asking since I'm interested in HFs but struggling to understand recruiting since most of my peers have been focusing on PE.
Thanks for the reply!
I also had the PE bug so this is purely based on the moves I've seen from ex-colleagues:
- For the large HFs or those with vertical coverage teams, then yes your coverage in IB does indeed matter
- For smaller HFs I don't think coverage matters
- I've seen these exits ranging from AN3-AS2
Thanks for this!
One final question- Have you seen FIG analysts/associates exit to PE funds in the recent years? Want to know if it's doable and I'm trying to look at what buyside opportunities FIG bankers have in London currently (in terms of HF vs PE) since you're in the space. Again, would this be through headhunters?
1) Figure out if you want MM vs SM HF
2) If MM, reach out to bizdev at the big platforms, if SM find the relevant HH or email a pitch
FIG could be an exception, but your coverage doesn't really matter for the HF's with verticals. It matters if you want to get into a niche like energy/FIG, but not if you want consumer/industrials etc
No one is hiring a banker to be a sector specialist, your job is to model and learn the process.
no one cares about coverage from your IB years.
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