Global heads of banks
The hierarchy of IB is pretty self explanatory when doing a simple search but how do the Global Heads fit into the picture?
For instance, there are global heads of software - does this mean that this MD was in charge of the rest of the MDs and ran the whole software pipeline? How would this individual's salary compare to other MDs at the firm?
In tech banking, is there generally a global head for every sub-sector? Ran across some linkedin profiles and don't really understand.
The short answer is that it varies bank to bank. Others please feel free to chime in, but I don't believe you normally have global heads for sub-sectors like software, or if you do, its more of a cushy title than a global head position.
Often, the global head of something like 'Consumer', 'Industrials', or 'TMT' will be a very real position, which will be reflected in having numerous other MDs as subordinates as well as higher compensation. Sometimes you can go one level down (global head of Media, Telecom and Tech), but rarely will you see Global Head of Software or the equivalent unless I'm mistaken
Usually there aren't heads of verticals within industry groups, but rather just heads of the industry groups as a whole (Head of Healthcare, Head of Consumer & Retail, etc.) There are MD's that are referred to as the "expert" within verticals at most banks, but there usually aren't titles to directly reflect that, rather they just sport the MD title.
At least that's the way it is within the bank I'll be returning too FT (BB; JPM, BAML, CS)
Concur with above.
In my experience the role of the global heads is also to: 1) Oversee the work of the heads below them, make sure they hit the revenue budget, coordinate them so they don't step on each other, etc 2) Report up to their global head on the progress which they're making in their team 3) Fly around the world or join calls to make clients feel like they are getting top dog attention from the bank
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