Senior management / old guys in IBD - how did they work at so many different teams
Was going through bios of different senior guys at BBs on their website
Seems that so many of them have worked at different teams like M&A / ECM / Levfin / TMT / FSG / FIG / C&R / HC / etc.
3-4 different teams and in Asia / London / NY
Such move would seem extremely difficult to me today imo given the skillsets and market knowledge are extremely different. How can one who was working mostly C&R suddenly move to do ECM and tomorrow moves to FSG? An VP1 who have done ECM for 6 years probably know way more than a sector banker when it comes to product specific execution and client conversation or market colors etc.
Was it much easier back then? Or do these senior guys just won the politic games and they are parachuted around different teams to free ride their subordinates while padding their CV with cross-sector and product experiences?
Good question, curious to hear as well.
At the big firms, success at a senior level is very much about delivering the firm and managing senior institutional client relationships. Those skills are transferable across industries and products. So at a MS, GS, JPM, the top people are pretty fungible across roles and often move where help and seniority is needed. This absolutely does not apply at independent advisory firms and middle market firms where the key skill is industry knowledge, individual relationships and quality execution.
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