Incoming intern here, was interested in the FSG group? What is the work like (how much M&A, Debt etc.) ? Which models are more commonly used? Exit opps for PE/HF?
Interested in London specifically.
| +220 | UBS 2nd Year Analyst Q&A (2026) | 41 | 3d |
| +172 | Downfall of Qatalyst | 36 | 11h |
| +161 | UBS IB 26Q2 a Disaster! Advisory Revenue Down 23%, Capital MarketsDown 5% | 22 | 17h |
| +95 | Lincoln International Return Offers | 39 | 11h |
| +57 | Wolf of Wall Street vs. Reality: Anyone else feel scammed by the movies? | 19 | 3d |
| +46 | so confused about 28 SA timeline | 27 | 3d |
| +33 | [WSO MODS] Please Delete This BS Host Books Spam! | 2 | 2d |
| +24 | RX Firm Lateral Advice | 15 | 3d |
| +21 | Left banking for a startup, now doing an MBA. Should I go back to IBD? Seeking advice | 6 | 4d |
| +20 | Del | 6 | 3d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Based on the most helpful WSO content, the Financial Sponsors Group (FSG) at U.S. banks typically involves a mix of work, including M&A, debt financing, and sometimes equity financing. The work can vary significantly from bank to bank and even within different FSG teams at the same bank. However, the context provided doesn't specifically mention London, but I can share insights that are generally applicable and might be relevant for FSG roles in major financial centers, including London.
Nature of Work: FSG teams often work closely with private equity firms and hedge funds, providing them with various financial services. This includes advising on mergers and acquisitions (M&A), helping with debt and equity financing, and sometimes assisting with initial public offerings (IPOs). The balance between M&A, debt, and other types of work can depend on the bank's strategy and the specific focus of the FSG team.
Commonly Used Models: In FSG roles, you're likely to encounter Leveraged Buyout (LBO) models quite frequently, given the close relationship with private equity firms. Additionally, you might work with financial models related to debt financing structures and occasionally with models for equity offerings. The emphasis on modeling can vary, with some roles being more relationship-focused and others more technical.
Exit Opportunities: FSG is known for offering solid exit opportunities into private equity (PE) and, to a lesser extent, hedge funds (HF). This is due to the close work with PE firms, which allows analysts and associates to build networks and understand the PE investment process deeply. The specific exit opportunities can depend on the bank's reputation, the deals you've worked on, and your personal networking efforts.
For someone interested in FSG roles in London, it's important to research specific banks' FSG teams in the city, as the focus and culture can vary. Networking with current or former FSG professionals in London can provide more tailored insights into the work, the models used, and the exit opportunities specific to the London market.
Sources: Life In The Financial Sponsors Group, Barclays Financial Sponsors Group, JP Morgan Exit Opps to Private Equity?, What groups at Barclays do in-house M&A?, CS/Citi M&A/FSG vs. lower GS group
bump
Pariatur consequatur iste laborum accusamus quia vero eum. Aut expedita sint porro. Ea aliquid sit deserunt velit quis aut sed. Qui minima quis quisquam similique sed facere excepturi. Et id dolorem suscipit molestiae at dignissimos.
Et ratione dolor voluptates quidem beatae. Saepe excepturi est nesciunt distinctio.
Quod architecto molestiae id non voluptatem et minus. Nobis et eligendi asperiores ab. Et sit a sunt voluptates voluptatum voluptatem eum.
Velit ut ex totam. Ullam autem non odit ut debitis quis velit. Est fugit sapiente sint ad voluptas.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...