Non-competes for MDs?
Curious to how this works when an MD chooses to leave their firm. Do contracts for banks typically include a certain non-compete period after senior level IBD employees leave?
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From what I have seen no.
Yes - it’s called garden leave. Most all banks have them for MDs and up. Can be as little as 3 months or as long as 12+ months depending on seniority and position.
Garden leave for very senior 2 MDs I saw was 2-4 months.
Director was 2 months.
Agree I’ve seen 3 months before but never anything over 6 months.
12 months is insane tbh
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