Top Investment Banks in the UK 2024 – Start Your Career in IB Now!
There are about 147 investment banking businesses in the UK—but a few stand out as industry leaders. These top firms boast the highest deal flow, revenue, compensation, and prestige.
In this article, we’ll focus on the best IB firms in the UK, highlighting their market presence, reputation, exit opportunities, industry specialty, and other vital factors. Keep reading to gain valuable insights into the country’s most sought-after employers for investment bankers.
Table of Contents
- The Role of Investment Banks in the UK Economy
- The UK's Most Sought-After Investment Banks
- Biggest Investment Banking Firms to Work for in the UK
- JPMorgan Chase
- Goldman Sachs
- Morgan Stanley
- Bank of America Securities
- Barclays
- Deutsche Bank
- UBS Group
- Citigroup
- The Best Boutique Investment Banking Firms in UK
- BNP Paribas
- Centerview Partners
- Ernst And Young
- Evercore
- Houlihan Lokey
- HSBC Holdings
- Jefferies
- Lazard
- Moelis
- Nomura
- Perella Weinberg Partners
- PJT Partners
- RBC Capital Market
- Rothschild & Co
- Wells Fargo
- How Can You Find the Right Investment Bank to Work for?
- Bottom Line
The Role of Investment Banks in the UK Economy
Investment banks offer important financial services to government entities, companies, institutional investors, and high-net-worth individuals. These essential services include:
- Capital raising
- Mergers and acquisitions
- Advisory services
- Asset management
- Trading
- Research
- Risk management
- Underwriting
By providing these services, investment banks enable UK-based companies to expand, operate more efficiently, and raise capital. This contributes to the overall health of the UK financial market and economy. Also, the influence of UK investment banks extends beyond the country's borders, impacting financial markets across Europe and the broader EMEA region.
The UK's Most Sought-After Investment Banks
There are several good investment banking firms to work for in the UK, including well-known names like Barclays, JPMorgan Chase, Goldman Sachs, Deutsche Bank, Citi, and Morgan Stanley. These top-tier institutions have very competitive selection processes. But having their names on your resume can be a golden ticket to securing the best opportunities throughout your career.
Elite boutiques and the best middle-market investment banking firms like Evercore, Rothschild & Co, and Lazard are also considered as great places to work. Let’s explore these and more firms in detail below.
Biggest Investment Banking Firms to Work for in the UK
JPMorgan Chase
This wall street IB firm is one of the most respected financial institutions in the world. It often tops the league tables in various categories like M&A activity, investment banking fees, equity and debt.
Analysts working at JPMorgan Chase get significant exposure to highest-profile transactions that prepare them for an outstanding career. Granted, you’ll have great exit opportunities. But the firm also offers opportunities for a long-term career. There are also training and mentorship programs for career development.
Goldman Sachs
Another bulge bracket firm that needs no introduction is Goldman Sachs. The acceptance rate for Goldman Sachs in the UK is notably low due to many applicants for any single role. However, it’s worth trying to get in as it can offer a rewarding investment banking career. You might just be the one that gets hired.
The work environment is extremely fast paced as you’d expect with any large financial firm. Getting a summer analyst role or an off-cycle internship can be a great way to see if you’ll like the culture.
👉 To prepare for your upcoming interviews, check out our Goldman Sachs Interview Guide.
Morgan Stanley
Some of the most high-profile M&A activities in the region often bear the signature of Morgan Stanley. In 2023, the bank was the leading financial advisor in the UK, advising on M&A transactions worth about $39 billion.
Globally, the firm has a history of advising on major deals including Elon Musk’s $44 billion acquisition of Twitter in 2022. As a result, investment bankers working here get an unmatched level of M&A and capital raising exposure.
👉 Find out more about how to start your career at Morgan Stanley in our Morgan Stanley Interview Guide.
Bank of America Securities
BofA also gives great exposure to M&A and debt-related transactions. It ranked fourth in 2023 in the UK for M&A advisory deals, with a total transaction value exceeding $34 billion. Besides mergers and acquisitions, the bank has expanded its equity capital markets presence in Europe, focusing on secondary sell-downs. So, working at BofA can bring exclusive opportunities for career growth in capital markets as well.
Barclays
Ranked top 10 on LinkedIn’s top companies in the UK, Barclays remains a prominent employer in the country. The list highlights the 25 best employers to grow a career within the UK and Barclays has featured in the top 10 for the fourth consecutive year.
To add to the employer reputation, the bank lifted the EU bonus cap meaning bankers at the firm could see higher bonuses soon. It’s the first UK bank to make this move and others might follow. Previously, bankers could only get bonuses about two times their salaries.
In terms of deals, Barclays has been actively involved in significant financial transactions. It played a crucial role in the IPO of CVC Capital Partners, helping the firm raise €2.3 billion in what became Europe's third-largest initial public offering in 2024.
Deutsche Bank
Deutsche bank sometimes makes headlines in Europe with its involvement in outstanding deals that influence industries. One of the standout transactions is the €8 billion acquisition of Vodafone Italia by Swisscom, approved by the Italian government in May 2024.
Another one is Porsche's €9.1 billion IPO in 2022, which was voted as ECM Deal of the Year. It was the largest IPO in Europe in over a decade by market capitalization. Participation in such deals adds to the firm’s reputation and showcases prowess in managing high-stakes equity capital markets transactions.
UBS Group
After the historic merger with Credit Suisse, UBS is expected to do more in its investment banking operations in UK. However, that might not be immediate and it's more of a wait and see situation. Still, there are concerns about potential job losses in the UK banking sector resulting from the merger.
Citigroup
If you want to specialize in energy, technology, or healthcare, Citi might be the investment banking firm for you. It often engages in high-profile transactions in these sectors. For instance, it became the top M&A financial adviser in the oil and gas industry for Q1 of 2024. During this period, Citi advised on six deals with a total worth of $43.5 billion.
