Retrenched Investment Bankers (Where do they go to?)

[Water]

Hi everyone, I'm curious if anyone has any idea where do retrenched investment bankers in Singapore usually end up at? I've heard from news sources quite frequently that numerous have been retrenched due to the unfavourable market in South-East Asia.

I would imagine that investment bankers would typically be highly driven and smart, and thus would seek great alternatives around. I've also read recently in an article that an Investment Banking Director opened up his own website as he could not find any other IB jobs around. He also mentioned about the tough market conditions, and that he knows of others who also could not find jobs.

I'm wondering if anyone here has any stories to share?

smaller boutiques, local/regional bank IBD, entrepreneurship, finance function at companies, if super lucky maybe buyside

usually bedok reservoir...

It depends. Most enter other finance-related roles though at a often much reduced salary.

Originally Posted by Unregistered

usually bedok reservoir...

Wah u damn evil

If they are in their forties, they usually retire early as they should have investments generating passive income. I know of one guy who retired after given a golden handshake. He owns three condos, all paid up and a stocks portfolio. He is a good trader too and earns extra income from trading. He is a multi millionaire.

[Water]

Thanks for the replies. Regardless whether it's Boutique/Buyside/Other Finance Functions/etc, I would imagine it to be difficult to transition right?

Originally Posted by Water

Thanks for the replies. Regardless whether it's Boutique/Buyside/Other Finance Functions/etc, I would imagine it to be difficult to transition right?

Not at all

[Water]

Originally Posted by Unregistered

Not at all

May I ask why? If an investment banker is doing Capital Raising/M&A his entire life, how is it very transferable elsewhere (e.g. treasury/accounting/etc)?

Originally Posted by Water

Thanks for the replies. Regardless whether it's Boutique/Buyside/Other Finance Functions/etc, I would imagine it to be difficult to transition right?

Are you a retrenched investment banker?