Hey guys,
I have another question regarding the IB scene in HK.
Suppose all goes well (i.e. the world economy, my performance at the firm, etc.), what are the exit opportunities prospect for an IB analyst completing their term at a BB in HK for:
(1) Exit opportunities in Hong Kong
(2) Exit opportunities in New York
When I refer to exit opportunities, I'm specifically referring to private equities.
Thanks in advance!
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Almost self-explanatory. Bankers who work in hk know the hk arena and the prestige of the bank carries in hk. As with any other position including banking and pe, exiting/lateraling from hk to ny or anywhere in the states is harder than from state to state.
Agreed. One positive about banking in HK is that you can have good exit opps to the mainland (if you speak chinese) and to singapore. There are lots of people who worked in banking in HK and come to PE in China.
Just to temper that, it is by no means impossible and I'm sure it's not particularly rare either. However, if you know you want to be in ny doing pe, then you should work at a top shop in ny/la/sf
What about from BB NY to PE HK? How difficult is this? How does one go about it?
IBD analysts in HK in general do not have nearly as much exposure to M&A execution vs their peers in NY and London, which is fairly important and crucial exp at junior level in PE.
oh same questions, but with BB london to HK....
i mean PE HK
bump
bump
How about NY BB PubFin (analyst) to HK exit ops (no chinese ability)?
Moving from NY -> HK is possible contingent on two prerequisites:
1). You come from a brand name (i.e. BB) IBD firm. 2). You have a strong command of Mandarin (by which I don't mean you can say "Ni Hao". Need fluency in oral communication, and a strong command of writing/reading)
The noticeable trend the past few years is that financial firms across the board (BB's, PE's) are adopting a native model to their business. Essentially, they are scaling up recruiting from top-tier Chinese universities, and the recruitment of Chinese expatriates who are working / studying in the US / UK.
Also, something else to keep in mind is that the PE market in Asia is fundamentally different than that in NY/London. There is a virtually non-existent Leveraged Loan / HY-Bond market that would support multi-billion dollar leveraged buyouts that you see in the more mature markets. However, with that said, you do have domestic companies IPO'ing that have tremendous upside. Therefore, PE firms by nature in Asia are more like Hedge-Funds in that their primary mode of investment is through PIPEs.
Long story short. If you want to do PE in the US, start in NY. If you want to do PE in Asia/China, start in HK.
This.
If you are in HK and want to do PE, you had either be lucky and know people or be very very technically good and get a job at a big shop on the few technical (read LBO) deals that they do. Otherwise its a very local businss (PE) and all about being able to source deals and know the company founders. Which means you had better be Mainland Chinese if you cover China, Indian if you do India, Korean if you do Korea etc.
I can't comment on NYC PE but I imagine it would not be easy. What you could perhaps do since you are at a big bank is transfer to NYC for some personal reasons and then move over from there. Guys from banking in MY can do PE in Asia, but once again they'll have to be technical and fill a very specific role (and this is for somewhat senior people) or be native Asian with requisite skills...
In the end, Asian PE has underperformed the last 7-8 years and in most cases embarassingly so...
Good Luck
Hah! This is incredibly true.
Completely agree with above posts. To add a bit of color, a very good friend of mine did MS HK IBD and was unable to secure any MM PE gigs in the US after. He ended up going to a MM bank in Chicago and plans on making the jump after getting an MBA. In short, absolutely should stay in the NYC/Chi/LA to move to PE shops after/
Does anyone know if BB IBD HK -> M7 MBA -> BB IBD NYC or Buyside would be a feasible plan for a non-American but native English speaker?
Does anyone know if BB IBD HK -> M7 MBA -> BB IBD NYC or Buyside would be a feasible plan for someone who is non-American but a native English speaker?
Yes.
HK BB IBD to US PE/HF route? (Originally Posted: 03/22/2016)
hey everyone
im an incoming ibd analyst at an mid tier BB in HK.
i initially took HK offer over the US ones because I saw myself being in Asia long term but recently i've been interested in the pre-MBA US PE/HF roles as well.
i've been wondering if it's near impossible to recruit for US buyside roles from HK. fortunately i graduated from an ivy and do have a US citizenship to help my cause.
from my understanding, pe recruiting starts as early as december/january for the 1st years with recruiter coffee chats and informal event invitations from MF. being in hk, i was thinking that it would be better off to contact head hunters and recruit as a 2nd year analyst with more deal experience under my belt. another possible route would be to relocate within the firm to the us office and recruit as a 3rd year analyst.
any advice for my situation would be greatly appreciated. thanks!
Im sure someone has done that but its extremely rare. The technical skills you get from HK BB is non existent in U.S. standard. Interview logistics and headhunter exposure will also be far less.
Best route is transferring or lateraling to a us office
yeah i thought so. i've actually heard of many people who went to top hedge funds but haven't really heard about the pe moves
also i guess "The technical skills you get from HK BB is non existent in U.S. standard" is how HK experience is viewed by the US buyside funds?
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