It seems like a lot of high performing analysts leave IB for PE after 2 or so years. Since PE is a lucrative business, why don't banks set up their own PE divisions to keep the talent internal and expand their revenue stream at the same time? Is it a conflict of interest between sell-side/buy-side, or is PE considered prop trading, which banks aren't allowed to do?
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some banks do but they are independent for all intents and purposes
i think you need to read FINRA and SEC regulations
Dodd Frank bro
Pretty sure GS and MS have a PE group
Most BBs do but they aren't even allowed to talk to one another.
because if you have a merchant banking division, you are seen as a competitor so PE funds won’t mandate you on their leveraged finance deals. That is part of the reason why GS/MS or Rothschild still have an MBD while JPM and co don’t
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