Got an offer for HSBC HK IBD (or they call it "CFIBC") and they allow me to be allocated to one of the below teams,
Country team: HK Advisory
One of the sector teams: Consumer, Industrials, Infra, Natural Resources
My goal is to move to PE in the long term (probably need to lateral to a BB first), which team would you recommend? Any insight is appreciated!
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Country: HK COV pretty solid and serves as house bank for CK. If you are HK local then this should work out well for you (from a cultural perspective)
Sector: PUI deems to be the strongest sector team in the bank. Both Infra & NR are pretty strong
ECM: No comments
DCM: Used to be a pretty strong bond house and employs probably the most DCM bankers on the street. However given the mkt condition would avoid this one
Thank you a lot for this, just one follow-up question, for a new grad would you recommend country or sector team given my target?
Sector team for sure. NatRes has the strongest deal flows under the current MD who’s notably the best female NatRes banker in APAC atm. HK team doesn’t really do much valuation and modelling so I won’t suggest
Appreciate this insight man!
I second HSBC NatRes. Helen Lee runs the team in APAC. She's high profile and is bringing in a ton of deals for HSBC. Definitely one of the strongest sector team on the street in HK.
I interned at HSBC's CFIBC in 2022 and we listened to teach-in sessions from sectors. The NatRes staffer hosted one of the sessions, very presentable and seems like they have assembled a hardworking and talented team to support to strong deal pipeline. Might also have one of the largest HSBC teams.
The team focuses more on renewables & utilities. Impression is that deal flow is mostly M&A (with some IPOs and bond deals) and team culture is closer to US-banks (longer hours).
Sorry to derail, but what's the comp for a fresh grad on the IBD side these days?
Many banks have increased pay for junior. Believe HSBC used to be top in terms of basic salary. But other banks have increased basic salary over the recent years so HSBC is no longer top in terms of pay.
I’m working in UK IB and interested in transitioning to HK, can I dm?
Del
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