Thoughts on lateralling based on deal flow?

My investment bank operates exclusively in an industry dominated by one bank that literally does all the major deals. It is becoming quite frustrating to work on pitches and idea books that aren't fruitful and I'm considering applying to lateral to this larger bank. Does anyone have any thoughts on this? I know it's paranoid but will my colleagues / senior bankers know that I'm applying? Will this effectively kill any relationship I have here? Welcome any thoughts

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