While I understand that no analysts from the Canadian banks in Toronto place in MF PE, is it realistic to exit from a Canadian bank to a MM PE fund in the USA if you network and have worked on large deals?
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Very hard but nothing is impossible
i’ve seen it happen; especially with like niche industries or traditionally canadian industries. basically, if your big 5 group is the best at what it does, you can go to a US fund w a similar focus. I.e. real estate banking group to like REPE, I saw someone from bmo gmm go to an energy fund in the states. acc, DW is another data point but they’re a canadian fund w offices in the States fund w
someone went from ivey -> MS toronto-> silver lake. so as rare as it is, it still happens.
ms torontoo -> apax too
Multiple people from Ivey have gone to Silver Lake in the last 5 years
MS Toronto —> KKR too
Ppl at BB / EB in Toronto generally do very well with US buy-side placement, while it's extremely rare for analysts at CDN banks to place in the US. While there's an issue with regards to perceptions of the quality of CDN banks (at least from an analyst point of view), I think by far the biggest driver is the way that banks deal with buy-side recruiting. Recruiting in a different city is an absolute logistical nightmare and it's practically impossible to make it happen unless you have support from your senior bankers. EB / BB tend to be much more supportive, while CDN banks tend to operate under the assumption that everyone is a banker for life (ie. buy-side recruiting must be done in absolute secret).
Canadian analysts are not respected?
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