Do Senior Analyst / Bankers take their team with them to new firm?
So currently applying and in the process for interviewing with an II ranked equity research analyst. He left his old bank and is now at a new shop. I know there’s at least one role open under his team at the new bank (I’m interviewing for it), but could he possibly be rebuilding his entire team?
I know he’s on garden leave / hire at the new firm. Would his team actually leave with him as well? Curious to know if people would forgo 3-6 months of pay to stick with the top ranked analyst.
It depends.
From the perspective of his old associate, if they are tenured enough, the old bank might offer the associate the old boss’s seat. In that case they would probably not go to the new firm with the old boss.
From the perspective of the analyst, if the experience with the old associate was poor, they may not wish to take them to the new bank.
If neither of the above is true, then it is somewhat likely that the associate moves with the analyst.
Good to know thanks! And the new bank would pay the garden leave of the old associate?
Usually the old bank pays garden leave for prior employees to “forget” things. I have not heard of a garden leave as long as you suggest.
What the above said. And usually the associate will only follow the senior analyst because of better firm and/or better pay/title. In any case, because of non-compete, the associate needs to “voluntary” resign from the position before joining the new firm.
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