Buyside Firms in Canary Wharf?
Non-native Londoner who will be working in Canary Wharf soon. I noticed that most of the buyside firms for PE (corporate, RE, Infra, Debt, etc.) and HFs are based in Mayfair and the city. This sucks as Mayfair is a 25 minute tube ride away? Doesn't seem like I can just grab a coffee with someone at these firms in the middle of the day or the morning.
So I'm wondering which buyside firms of any asset class are in Canary Wharf? All that comes to mind is Morgan Stanley's asset management groups from interviews. Cheers.
You will see soon enough why there are none.
Can you explain why not? And surely there must be some well known ones? I get that the bulk of MFs are in Mayfair but no well known hedge fund sitting in a skyscraper in London?
Unlikely. Worked in HF industry and never seen a fund with a canary wharf address. Pretty sure even JPMs AM business (which includes some HFs) is not located in their main tower in Canary Wharf but actually in the City in a smaller building.
The thing is in CW is 99% of the buildings are single or dual occupancy and usually the HQs of a BB or Big 4. Exceptions are like JPMs building which last I checked had a few random businesses inside and One Canada Square which has more startups inside iirc.
PE not really a presence here.
Mayfair and West London is also generally just much nicer.
Buyside firms like to be situated in Mayfair and nearby because of the reputation and address. Even though the offices are small, they still crave for that reputation. I experienced this during my HF internship.
Brookfield is in CW.
Brookfield owns the place, that makes sense. Anyone else other than Brookfield and MS?
There are smaller VC firms at Level39. Other than that, I echo what others have said - city/squaremile.
Why are the BB banks here then? Wouldn't it make sense to be near clients? Although I guess NYC is the same with Wall St. and Midtown, but curious if you have any guesses. Also, I'm assuming if you're an Analyst in Canary Wharf, then your best bet is to recruit through headhunters instead of networking on the buyside? Or is it worth to network?
London is a large city, just like NYC. There is enough staff who sit in offices to justify a second financial center.
Like others have said, the BB HQs are often in Canary Wharf and they have more going on than a few groups that are based a few minutes away.
I love E14 and always wanted to be in PE/VC in that location - but in the grand scheme of things a relatively small VC investment arm isn't that important to a bank. They got other, bigger, more relevant stuff going on and they placed them in E14 also.
a quick ride on the jubilee line isn't that bad, you will also have meetings in London eventually. Networking still works, but you have to get used to riding the tube more often.
What jobs come under Buy Side?
HF/PE/VC/AM etc
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