Investment Strategy at BB?

Can anyone let explain what an investment strategists do at banks? I spoke with a friend at a large AM who believed it would be pitching macro research to the S&T teams and ER teams for what to look at for execution. Any truth to this or it more along the lines of wealth management?

Any ideas of exit opportunities would be much appreciated. If the job description falls under the former above, any chance of moving to macro-HF as analyst or are you just stuck in strategy wherever you go?

Thanks!

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