How is FIG/Fintech in Asia? (deals worked on, cap markets vs M&A, exit ops etc.)
- at a tier 3 bank doing M&A as an associate
- mandated on some fintech deals, working on some payments which i find interesting, but also doing deals like mining/real estate which i have little/less interest in
- now interviewing with a "strong" Tier 2 BB (CS/UBS/DB/Barclays etc.) in Asia for FIG and Fintech (as open to specialising in payments/fintech etc.) f
- I was advised that it'll probably be a 50/50 split between traditional finance and fintech but that they're getting a lot of interest in fintech. Current work is a lot of cap markets which i have no experience in but they say i'll catch up easily
- not that keen on banks/insurance given the advice online that it'll mostly be regulatory work, pigeonholing etc.
- Wondering if anyone has experience or knows the FIG space in Asia (HK + SG) and if they largely do fintech deals? how are the exit ops for FIG/Fintech guys in Asia? Do most banks have fintech and payments under their FIG teams? league tables etc.? is work mostly cap markets?
Thanks all. will be great to hear from someone actually working in Asia FIG
I don’t know which tier 3 bank you’re at but by and large I’ve seen most FIG groups on the street comprise Fintech as a standalone vertical or co-partner with Tech to coverage. It also has to do with the space of the Fintech. For example, insurtech, albeit a Fintech sub, would be under insurance coverage or tech coverage.
In Asia, however, given the team is much smaller, most groups do not separate out the junior team for that.
Depends on the bank, but most in Asia have both traditional FI + fintech coverage sitting under FIG. It's probably accurate to say 50/50 split between traditional FI and fintech - really depends on the pipeline, but it's getting harder to execute fintech IPOs these days (speaking more for HK). In terms of exit ops, frankly it's harder to exit into buy-side from FIG compared to other groups. I'd recommend networking with other associates/analysts at the firm and get a true sense of what the deal flow/exit ops look like (instead of just listening to the people interviewing you).
Thanks all for the responses.
frankly, the interview process is going alright and they don't seem too worried about my FIG skills (which are sub par to be honest), which actually makes me more nervous about it, like they have been having a lot of turnover and will take anyone who breathes and can read etc.
Doesn't help they're not a JPM/GS/MS (which will be quite a more easy sell)
hi there, i think i know which firm you are interviewing. Can you DM me? i m going to work in that bank
and why would i DM you lol.
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