How crucial is a top tier bank out of undergrad in London since PE recruiting happens till Associate level?

From what I've heard PE recruiting in London is a lot less structured than the US and happens up to the Associate level in IB. Therefore is getting a top tier IB analyst role out of undergrad as crucial as in the US, considering someone could land a low tier bank and lateral upwards to a top bank and recruit from there? Any insight would be appreciated as don't have much knowledge around this thanks

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