Has anyone seen a nepotism hire in London?
Any stories where interns/grads just got hired through nepotism and the fact they're a senior persons relative?
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yes it happens, not as often as in the the states
It happens, but people often make it seem like "it was based on merit". They have to save face, but everyone knows how some people got in. I wouldn't say it is a "common enough" scenario at all.
One of our NYC MDs placed his nephew in London, I don't think anyone has a problem with it.
The only ones I’ve seen were probably good enough to get the job anyway. Personally have never seen anyone really awful hired/kept on just because of who their parents are. I suspect the kids not suited to this job decide to go and do something else, why would you put yourself through two years of analyst hell when you don’t even need the money.
What’s with the monkey shit you’re absolutely right. Seen Nepo hires leave or transfer out of IB into less demanding roles within the bank.
Saw a kid from oxford uni join the boutique I was at. the dude wore brown trousers and a shirt that was like a ship's sail it was so big and baggy - shirt and trousers weren't ironed either. the guy wore black shoes that did not match anything. He had 0 idea how to use excel and would leave the office for a walk every 2 hours for about 30 mins. would leave the office at 5 on the dot and would brag about how hard he worked. When I complained to the staffer (guess who had the joy of doing his work on top of their own... ) i was told that the ceo knows the guys dad and so we cant say shit. I left 3 weeks later lol
This happens everywhere but some cultures are more open about it. Brits/Canadians are more smug than us but am sure the same stuff happens there perhaps it’s just not as widely expected but if u think about it at least we know and recognize it happens here, who knows what other stuff goes on there that others have no clue about? America prides itself on information whether good or bad, it seems more info going out is our norm - everywhere else it’s the opposite.
Forgot to add they get hired but don’t get promoted so I wouldn’t worry about it
It 100% happens, just as much as the US if not more. Difference is that with kids from all over the continent it is quite hard to have a holistic view on how deep it runs.
In the US most nepo kids will come from the 5-10 targets in the country and, as such, the analyst class will be aware of them to some extent. In Europe you are looking at 2-3 targets per major country (UK/DE/FR/IT/ES) plus 1-2 for each smaller one (NL/PL/SE…). Add to this the language barrier and the cultural differences, and it is quite easy to fly under the radar as long as you are not useless.
At my BB I know of at least 4 cases, but this is because I happen to have a really good relationship with a staffer who gossips a lot lol.
Have seen / heard it all, be it family, friends, friends of friends, sexual relationships (although that could be classified as networking lol). Funnily enough a good # of the cases I know are kids of pe portco CEOs - they wanna get hired to THEN get into PE to THEN back dad for his next LBO lol.
yuh my cousin
So that means you, too?
I have seen some cases that could be nepotism. There's a guy at GS/MS/JPM whose dad is a regional head at the bank. Seen it in PE as well, where a guy got in because his dad knew the CEO of a major PE firm.
yea, seen 4-6 people from my school ( sixth form) who had connections got EBs through nepo and seen a couple of others from friends of friends/extended groups
bump
GS and Rothschild are leading the way here
Children of prime ministers, oligarchs, ceos and pe guys, at least in europe
with the hires, are they given a more favoured recruitment process?
most of the hires would be children who go to oxford/cambridge?
Bro trying to become a nepo hire
Nepo hires in London?
First time I'm hearing about this...
haha, would love to hear some stories...
Can't share specifics but know multiple cases across many of the big banks plus a few at EBs
I go to a target. Have seen first year bachelor's students with no prior experiences get summer internships at large funds (e.g. HIG/Silver Lake/Fortress/TowerBrook) that don't run summers purely due to connections. Ffs, I even know people whose parents that work in finance just do their kids' applications for them. Needless to say, these nepo kids are usually the most brain-dead and never shut up about their parents' networks.
That's probably from the 10k interns programme.
The ones I know are not.
Lol, similar thing happened at my non-target in the US for a Russian international student. Was rumored to be related to a Russian oligarch. His resume read off like a top 1% of finance students at Wharton / Harvard. Deleted his LinkedIn soon after college so have no idea where he is now ~10 years later.
Most likely back in Russia. Nothing pays better than being an oligarch. I take that back, nothing pays better than being an oligarchs son, at that point all the work is done for you.
bump
The son of Bernard Arnault, the richest guy in europe, did a summer internship at goldman london
*richest guy in the world, pls fix
Thought it was MS, but perhaps this is a different son
lots of nepo hires in the boutiques (since hr is less centralised)
Yeah someone from my cohort has one BB S&T offer. When he posted it on LinkedIn he received congrats from some MD (head of emea exotics trading or sth) with the same surname
Wasnt the direct descendant of Napoleon working at BX in London until a couple of years ago?
dont think its direct descendant
https://www.linkedin.com/in/jcnapoleon/
Descendant of Napoleon's younger brother indeed
Yep and now he's raised his own fund.
only when i open my eyes
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