Moving from NYC IB to London

To make a smooth transition from NYC IB to London, here’s what you need to know based on the most helpful WSO content:

1. Internal Transfer to London

• This is often the most straightforward option logistically. However, as you mentioned, a smaller London presence at your current bank might limit deal exposure.
• Start discussions with your HR and senior management at least 6-12 months in advance. Highlight your willingness to adapt and contribute to the London team.
• If your bank has a limited presence, consider whether the trade-off in deal flow is worth the convenience of an internal transfer.

2. Lateral Move to Another IB Role in London

• Lateral hiring at the associate level is possible, but the London market is smaller and less structured compared to NYC. Networking is key here, as London recruiting relies less on formal processes and more on personal connections.
• Begin reaching out to recruiters and networking 6-9 months before your planned move. Focus on banks with strong London operations, such as BBs (e.g., JPM, GS) or EBs with a solid presence (e.g., Lazard, Rothschild).
• Highlight your US deal experience, as London firms often value the larger deal flow and training from US IB programs.

3. PE / VC / Startups / Other Roles

• Moving directly from US IB to PE/VC in London is challenging but not impossible. London PE firms often prefer candidates with local IB experience or those who have completed a 2+2 IB-to-PE track.
• If PE/VC is your goal, consider targeting distressed funds or event-driven strategies, as these are more open to candidates with 2-3 years of IB experience, even from the US.
• Startups or corporate roles might be more flexible, but they typically require strong networking and a clear value proposition for why you’re making the move.

4. Timing and Preparation

• Start Early: Begin networking and exploring opportunities 6-12 months in advance. London recruiting is less structured, so being proactive is crucial.
• Leverage Recruiters: Reach out to London-based recruiters who specialize in IB and PE placements. They can provide insights into market demand and help you navigate the process.
• Networking: Build connections with professionals in London through LinkedIn, alumni networks, and industry events. Personal recommendations carry significant weight in the London market.

5. Banks/Firms Open to US-Based Applicants

• BBs and EBs with global footprints are your best bet. Firms like JPM, GS, Lazard, and Rothschild are known for hiring US-based talent.
• For PE, focus on funds with a global presence or those that value US deal experience, such as Carlyle, Blackstone, or Bain Capital.

Key Takeaways:

• Prioritize an internal transfer if logistics and timing are critical, but weigh the trade-offs in deal exposure.
• If pursuing a lateral move, start networking and engaging with recruiters 6-9 months in advance.
• For PE/VC, target funds that value US experience and consider networking heavily to overcome the preference for local candidates.

By starting early and leveraging your US experience strategically, you can position yourself for a successful transition to London. Good luck!

Sources: https://www.wallstreetoasis.com/forum/investment-banking/london-vs-new-york-city?customgpt=1, International Student - Chance of getting an IBD internship in London?, https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1, Advice for London applicants