Accounting moving to Investment Banking

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I'm in FS audit at a Big 4 based in London and on my main client alone I have seen four senior associates within the space of just a few months of each other move into FO IB roles (2 of whom went into M&A and 2 in Equity Research). Granted they all did CFA Level I, but that isn't hard when you're waiting to time qualify after finishing your ACA exams within the first two years of your training contract.

Out of interest do these people usually go and work for IBs that they have been auditing? Or are they banned from doing that due to the potential conflict of interest while working on the audit?

Reply 21

M1011

Original post by ED-209

Out of interest do these people usually go and work for IBs that they have been auditing? Or are they banned from doing that due to the potential conflict of interest while working on the audit?

There is rules about moving to work for your client once you reach a certain level of seniority for exactly that reason, but that wouldn't apply to newly qualified graduates.

Reply 22

username1204872

Original post by ED-209

Out of interest do these people usually go and work for IBs that they have been auditing? Or are they banned from doing that due to the potential conflict of interest while working on the audit?

I think it's fine if you're a newly qualified accountant (ditto to the poster above). It's when you're manager and above that there are independence issues.

None of these four ex-senior associates work for clients of my firm.

Reply 23

KLL

Original post by Lm511

Hi guys

I wanted to know that if I was to qualify as a ICAEW Chartered Accountant, would I be able to move into Investment Banking? I was also curious to know what qualifications would be needed to become a Investment Banker.

To give a bit of background knowledge Im doing a Accounting and Finance degree in Cardiff uni and hoping to come out with a 1st/ 2.1.

Any answers are highly appreciated

Depends on what you want to do in IB. All the above conversation is compeltely pointless and any advice useless without that information. The exception being Ronoroa's post

Reply 24

Lm511

Original post by KLL

Depends on what you want to do in IB. All the above conversation is compeltely pointless and any advice useless without that information. The exception being Ronoroa's post

Thank you KLL

But I have changed my mind on switching from Accounting to Investment Banking and instead just going to go straight into IB. Go answer your question M&A I'm hoping to move into. Ideally somewhere front office preferably.