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You’ll also see a fair number of deals in the financial sponsors group due to the many sovereign wealth funds in the region. bulge-bracket banks , such as JPM, GS, MS, and Citi, always rank well in the league tables. The other bulgebrackets (BofA, Barclays, UBS, and DB) tend to rank lower, but this varies each year.
But one possible exception lies in sovereign wealth funds (SWFs) , which are similar to funds of funds in some ways. I’ll address all these points here and cover the advantages and disadvantages of SWFs, but let’s start with the definitions and overview: What Are Sovereign Wealth Funds?
Admittedly, not all banks did this, and many bulgebracket firms will start in the normal time frame of January – March. You probably won’t be able to get a “real” IB internship, but you can find some good alternatives: Search fund internships. bulgebrackets (well, except for RBC). Wealth management.
You will very rarely get exposed to the type of financial modeling that bankers complete: 3-statement models , DCF models , M&A models , LBO models , and so on. As you advance, your exit opportunities narrow because PE firms and hedge funds don’t want to pay for expensive VPs or Directors with no direct investing experience.
Note that while Leveraged Finance is technically in “capital markets,” it is closer to groups like M&A because most of the work relates to funding for acquisitions and leveraged buyouts. If you want a long-term finance career (stay in banking or switch to private equity, corporate development, hedge funds, etc.),
Equity research recruiting tends to be less structured, though the bulgebracket banks and elite boutiques still run traditional processes that start over a year before summer internships. public markets roles ( hedge funds , asset management , etc.), bulgebracket research team to startup PE firm).
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