MM HF Relocation?
Joining one of the big 3 grad schemes in London next year and was curious how office transfers/relocations work? Have seen a few analysts/PM’s relocate to the US since they covered US stocks or to the UAE etc.
Curious how one goes about this. I’m assuming it’s basically dependent on whether your PM is also located there? I.e if I get matched with a PM in the UAE, and they want me to be in the same office as them I can move over?
also curious what happens when pods blow up in regional offices like the UAE: what do the analysts tend to do? Join a pod in the ecosystem or go back home?
Based on the most helpful WSO content, office transfers and relocations in MM HFs are often situational and depend on several factors:
PM Location and Preference: If your PM is based in a specific location (e.g., UAE) and prefers their team to be physically present, you may have the opportunity to relocate. This is often the most straightforward path to transferring offices.
Pod Dynamics: When pods in regional offices like the UAE blow up, analysts typically have a few options:
Firm Policy and Ecosystem: The flexibility of relocation also depends on the firm's structure. Some firms have a more open internal mobility policy, while others may be more rigid.
Networking and Performance: High-performing analysts with strong internal networks are more likely to secure transfers or new roles within the ecosystem.
For a successful relocation, it’s crucial to: - Build a strong relationship with your PM and team. - Stay informed about internal opportunities and maintain a good performance record. - Leverage your network within the firm to explore options proactively.
If you're starting with one of the big 3 grad schemes, focus on excelling in your role and building connections early on, as these will be key to navigating relocations or transitions in the future.
Sources: What is life like in an IB satellite office?, My Story: From Trading Floor at UBS To Entrepreneur on Kickstarter, How often do seats open up at multi-managers?, The best of the back (or middle) office?, Leaving MFPE for MMHF seat?
Bump
I think it’s difficult to ask at a junior level.
I’ve seen some cases, where senior analysts/junior pms relocations from Europe to US and the other way around, having covered some companies in respective geo and their team trying to expand the coverage.
Other can chime in but I think big 3 are generally more flexible re-podding you if the blow up wasn’t your fault in US as they have enough teams needing junior analysts but would be less of case in EU and Asia as their footprint is much smaller = less team to re-pod
It's team by team. But for instance most of the Dubai equity PMs I have seen at MMs have more analysts in London than they do in Dubai.. the PM is in Dubai solely for tax reasons, but wants his team to be closer to the European companies he covers.
Some PMs or funds are comfortable with analysts working far away, while other PMs or firms (notably Citadel) insist on in-person teamwork.
From what I’ve seen and the people I know, UAE is mostly a ‘senior’ market, as in the PM/Senior PMs are based there and most of the analysts and sub-PMs are still in London/other major centres.
I think it is changing slowly but the opportunity set is limited over there.
Very company/pod specific though, I know some are more lenient as above poster also said.
BUMP
As someone based in the UAE and aspiring to enter the hedge fund industry—with the goal of working in the UAE itself—I’m considering the best path forward. From my research, it seems most PMs and analysts in the UAE have relocated from London, so I’m debating between the following pathways:
Any guidance on which of these paths might be more viable or effective would be greatly appreciated!
Dude if you’re thinking about this before entering college and are already dedicated I don’t see a world where u don’t land a job. I’m sure you’ll succeed with whichever path you take.
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