Stuck on decision whether to do Masters in Adv Fin early next year or delay and do an MBA

I'm at a crossroads in my career. I'm a Sr. Financial Analyst in a small valuations firm. We do a bit of advisory but it's minimal. Pretty drab work. Very focused on the past, not the future. I'm a cog in a wheel, a service provider to much more interesting companies.

Long term I've always been focused on PE (but also try to stay up on HF stuff). I have a CFA charter. I am 33. I am considering a grad degree. I see this as the best way to get into the role I want. I know about half the relevant firms in my city but it's unlikely I'll be able to get into any of them at this point. I am in Canada but I am an EU citizen. I want to work in the EU or London, or maybe US, for a while and then come back to Canada. So I am weighing a European MBA versus a European Masters in Advanced Finance at IEBS in Madrid. I may also apply at a couple US iveys if I go the MBA route.

Pros and cons of the MIAF:

Pro: it's pretty cheap;

Pro: don't have to write the GMAT/GRE, as IEBS provides an exemption for CFA charterholders;

Pro: builds on CFA program, sets me up for a boutique sell side or buy side firm;

Pro: start early next year, done a year later;

Con: the school is good but the program is pretty new. IEBS is better known for their MBA, which is well-ranked in Europe;

Con: related to that, uncertainty about placement. Will have to hustle. No assurance of a big jump in salary.

Pros and cons of the MBA:

Pro: I can apply to a bunch of decent schools in EU (HEC, LBS or LSE) and maybe lower-tier US iveys (probably won't get into HBS);

Pro: way more brand recognition even if it's an MBA at IEBS, than the MIAF;

Pro: related to that, probably easier to get the job I want, or go to industry;

Con: cost is greater;

Con: will have to take a few months to study for and write the GMAT/GRE, and I'm not getting any younger.

At this point I'm just trying to get opinions and gut checks, as I was quite confident about the MIAF choice, but am now wavering.