Introduction

Breaking into investment banking with no prior experience is a challenge—but it's not impossible. It requires a combination of strategic networking, skill development, and the ability to demonstrate your commitment and potential to prospective employers.

Firstly, education plays a critical role. Most investment bankers begin with a strong academic background in finance, economics, mathematics, or related disciplines. If you're already working or studying in another field, consider taking supplementary courses or pursuing a finance-focused postgraduate qualification such as an MSc in Finance or an MBA.

Next, build relevant skills. Investment banking demands analytical thinking, attention to detail, financial modelling, and proficiency with tools like Excel and PowerPoint. Free or paid online courses in these areas can be a valuable addition to your CV.

Networking is key. Attend industry events, university networking sessions, and virtual finance seminars. Connect with current or former bankers on platforms like LinkedIn and ask for informational interviews. These conversations can provide insight and may lead to internship or entry-level opportunities.

Internships—even unpaid or short-term—are invaluable for getting your foot in the door. If you're struggling to secure an investment banking internship, look for experience in adjacent areas like corporate finance, accounting, private equity, or consulting.

Tailor your CV and cover letter to highlight transferable skills. For example, roles involving client interaction, data analysis, project management, or high-pressure decision-making can all be positioned as relevant experience.

Finally, persistence is vital. The competition is fierce, but those who are proactive, resilient, and strategic in their approach often find a way in. Many successful bankers started in unrelated roles or industries before transitioning through networking and skill development.

Conclusion

Remember, the industry values drive, curiosity, and adaptability. If you can demonstrate these qualities alongside a solid understanding of financial principles, you can absolutely break into investment banking—experience or not.

Introduction

Investment banking is a specialised division within banking that focuses on large, complex financial transactions such as mergers and acquisitions (M&A), initial public offerings (IPOs), and corporate restructuring. Investment bankers act as intermediaries between companies and the financial markets, helping businesses raise capital, navigate financial strategies, and execute high-value deals.

At its core, investment banking combines financial analysis, market knowledge, and negotiation skills. Professionals in this field advise clients—ranging from start-ups to multinational corporations—on major financial decisions. For instance, when a company wants to go public, investment bankers manage the IPO process, pricing the shares, ensuring regulatory compliance, and marketing the offering to investors.

M&A advisory is another key function. Investment bankers identify potential acquisition targets or buyers, conduct valuation analyses, and structure the transaction to maximise value. They often play a crucial role in negotiations and due diligence processes.

Investment bankers also work with governments, financial institutions, and private equity firms, offering insights and strategic advice on capital markets. They might help issue debt or equity securities, facilitate private placements, or assess the viability of major investment opportunities.

This fast-paced, high-stakes environment requires a strong understanding of economics, finance, and market trends. Roles typically demand long hours, attention to detail, and the ability to perform under pressure.

Despite the intense nature of the work, investment banking offers a dynamic and rewarding career path for individuals passionate about finance and deal-making. It's a profession that blends strategic thinking with real-world impact, often involving billions of pounds in transaction value.

For candidates looking to break into the field, it's important to understand not only what investment bankers do but also how they add value to the broader economy. Their work supports capital formation, corporate growth, and innovation, making investment banking a cornerstone of modern finance.

Conclusion

Whether you're a student, career changer, or simply curious, understanding the role of investment bankers is the first step towards exploring one of the most influential and exciting sectors in finance.

Introduction In 2025, the debt and restructuring space is firmly back in the spotlight. As macroeconomic uncertainty lingers and refinancing pressures mount across sectors, London’s investment banking market is seeing a renewed focus on debt advisory and financial restructuring. This shift is reshaping both the deal landscape and the demand for top-tier talent. At Circle Square, we’re seeing an active hiring market across restructuring advisory, private credit, and leveraged finance, as firms gear up to guide clients through increasingly complex capital structures and distressed situations. A Market Under Pressure – and Full of Opportunity After years of cheap capital, 2025 is a reality check for many borrowers. The higher-for-longer interest rate environment, combined with tighter lending conditions and geopolitical risk, has left many corporates facing liquidity constraints. In response, we’re seeing increased restructuring activity—from covenant resets to full-blown recapitalisations. Private credit funds, opportunistic investors, and special situations desks are also stepping in, driving demand for bespoke debt solutions and rescue financing. As traditional lenders pull back, agile teams with deep credit expertise are stepping forward. What Firms Are Looking For: Talent That Knows the Terrain The best professionals in this space understand that restructuring is about more than just spreadsheets—it’s about relationships, timing, and trust. We’re helping clients hire candidates who bring both technical depth and commercial acumen. Key hiring trends we’re seeing in 2025: •Debt Advisory Analysts to Directors with experience in leveraged finance, DCM, or restructuring •Private Credit and Special Sits Associates with strong modelling skills and deal exposure •Restructuring and Insolvency Advisors from Big 4 or boutique firms transitioning to investment banking platforms •Capital Solutions professionals with hybrid backgrounds in legal, structuring, and execution •Talent with cross-border transaction experience, especially within the mid-market and lower mid-cap space Firms are also increasingly seeking individuals who can operate autonomously, manage client relationships directly, and adapt to changing deal dynamics quickly. London Leads the Charge As Europe’s financial centre, London continues to be the hub for complex debt solutions and distressed advisory. Whether it’s advising on high-yield refinancings, working with special situations teams, or guiding clients through pre-pack administrations, the city’s concentration of legal, financial, and strategic expertise remains unmatched. At Circle Square, our reach across banks, funds, and advisory boutiques puts us at the heart of this talent flow. We’ve delivered on multiple retained and exclusive mandates in the debt space—connecting clients with professionals who don’t just understand the numbers, but know how to get the deal done. Looking Ahead: A Specialist’s Market 2025 is a year for specialists. As deal volume shifts from M&A to restructuring and recapitalisation, firms that have the right people in place will be best positioned to support clients—and capitalise on dislocation. Whether you’re scaling your debt advisory practice, launching a capital solutions team, or entering the London market, Circle Square is your partner for targeted, effective talent acquisition. To find out how we can support you to expand your team or, secure your next role please contact us on 020749 20705.

Navigating the Curve – Debt Advisory and Restructuring in London’s 2025 Investment Banking Market Introduction In 2025, the debt and restructuring space is firmly back in the spotlight. As macroeconomic uncertainty lingers and refinancing pressures mount across sectors, London’s investment banking market is seeing a renewed focus on debt advisory and financial restructuring. This shift is reshaping both the deal landscape and the demand for top-tier talent. At Circle Square, we’re seeing an active hiring market across restructuring advisory, private credit, and leveraged finance, as firms gear up to guide clients through increasingly complex capital structures and distressed situations. A Market Under Pressure – and Full of Opportunity After years of cheap capital, 2025 is a reality check for many borrowers. The higher-for-longer interest rate environment, combined with tighter lending conditions and geopolitical risk, has left many corporates facing liquidity constraints. In response, we’re seeing increased restructuring activity—from covenant resets to full-blown recapitalisations. Private credit funds, opportunistic investors, and special situations desks are also stepping in, driving demand for bespoke debt solutions and rescue financing. As traditional lenders pull back, agile teams with deep credit expertise are stepping forward. What Firms Are Looking For: Talent That Knows the Terrain The best professionals in this space understand that restructuring is about more than just spreadsheets—it’s about relationships, timing, and trust. We’re helping clients hire candidates who bring both technical depth and commercial acumen. Key hiring trends we’re seeing in 2025: •Debt Advisory Analysts to Directors with experience in leveraged finance, DCM, or restructuring •Private Credit and Special Sits Associates with strong modelling skills and deal exposure •Restructuring and Insolvency Advisors from Big 4 or boutique firms transitioning to investment banking platforms •Capital Solutions professionals with hybrid backgrounds in legal, structuring, and execution •Talent with cross-border transaction experience, especially within the mid-market and lower mid-cap space Firms are also increasingly seeking individuals who can operate autonomously, manage client relationships directly, and adapt to changing deal dynamics quickly. London Leads the Charge As Europe’s financial centre, London continues to be the hub for complex debt solutions and distressed advisory. Whether it’s advising on high-yield refinancings, working with special situations teams, or guiding clients through pre-pack administrations, the city’s concentration of legal, financial, and strategic expertise remains unmatched. At Circle Square, our reach across banks, funds, and advisory boutiques puts us at the heart of this talent flow. We’ve delivered on multiple retained and exclusive mandates in the debt space—connecting clients with professionals who don’t just understand the numbers, but know how to get the deal done. Looking Ahead: A Specialist’s Market 2025 is a year for specialists. As deal volume shifts from M&A to restructuring and recapitalisation, firms that have the right people in place will be best positioned to support clients—and capitalise on dislocation. Whether you’re scaling your debt advisory practice, launching a capital solutions team, or entering the London market, Circle Square is your partner for targeted, effective talent acquisition. To find out how we can support you to expand your team or, secure your next role please contact us on 020749 20705.

Introduction The healthcare sector has long been a resilient pillar of the M&A market, and in 2025, that strength shows no sign of slowing. In London, dealmakers are capitalising on a wave of innovation, consolidation, and investment interest across healthcare services, pharma, biotech, and digital health. At Circle Square, we’re witnessing a notable increase in demand for professionals who can navigate this complex and high-growth space. Why Healthcare Is a Prime M&A Target in 2025 Several trends are converging to make healthcare one of the most attractive sectors for investors this year. These include: •An ageing population and increased demand for specialist care •Continued digital transformation and adoption of health tech •Pressure on public systems driving interest in private operators •Global supply chain reshaping in pharma and medtech •A strong pipeline of early-stage biotech innovation In 2025, strategic acquirers and private equity funds are actively looking for scalable platforms, niche providers, and innovative businesses that offer sustainable growth. London, with its concentration of leading healthcare firms, life sciences clusters, and world-class universities, remains at the forefront of this activity. Who’s Hiring: The Roles Behind the Deals With growing deal volume and competition for assets, hiring in healthcare M&A is accelerating—particularly across corporate development, investment banking, private equity, and advisory roles. At Circle Square, we’re seeing a rise in demand for: •M&A Directors and VPs with healthcare sector exposure •Healthcare-focused Associates with transaction and modelling experience •Strategic Advisors who understand NHS dynamics and private payor models •Investor Relations and Fundraising talent with biotech/pharma networks •Corporate Finance professionals who can lead on cross-border and mid-market deals Whether it’s building in-house M&A teams for growth-stage healthtech companies or supporting PE firms in assembling origination teams, the common thread is a need for candidates who can combine sector insight with transactional excellence. Navigating the Sector: Why Specialism Matters Healthcare is not just another vertical—it’s a deeply nuanced ecosystem. Regulatory frameworks, reimbursement structures, and clinical risk all impact deal success. That’s why firms are turning to specialist recruiters like Circle Square who can connect them with professionals that bring credibility, network access, and a sharp understanding of the space. Our recent retained searches in the healthcare M&A market—from diagnostics and services to digital platforms—demonstrate how precise candidate mapping and sector knowledge lead to faster, better results. Looking Forward: 2025 and Beyond With capital still flowing and innovation surging, healthcare M&A is poised for continued growth. As deal structures become more sophisticated and competition intensifies, securing the right team will be a critical differentiator. Whether you’re scaling a medtech platform, investing in specialist care, or building out an advisory team, the future belongs to firms who can move fast and hire smart. To find out how we can support you to expand your team or, secure your next role please contact us on 020749 20705.

Introduction As we settle into 2025, confidence is gradually returning to the European mergers and acquisitions (M&A) market. London, despite evolving regulatory frameworks and a shifting global economic backdrop, continues to anchor European dealmaking activity. At Circle Square, we’re seeing renewed momentum in hiring across the investment and corporate finance landscape, driven by a sharper focus on value creation and strategic transformation. Stabilisation, Not Stagnation: What’s Driving Deals in 2025 After a cautious 2023 and a transitional 2024, this year marks a turning point. Dealmakers are capitalising on improved market visibility, stabilised interest rates, and a steady flow of capital from private equity and institutional investors. While large-cap transactions remain selective, the mid-market is buzzing—particularly in sectors like healthcare, technology, renewables, and financial services. Strategic acquirers and private equity funds alike are focused on bolt-on acquisitions, buy-and-build strategies, and sector consolidation, especially where synergies and scale can drive long-term growth. With valuations becoming more realistic, cross-border M&A is picking up, and London remains a prime hub for international buyers and sellers looking to access European markets. A Talent-Driven Market: The Rise of Versatile Deal Professionals What’s clear in 2025 is that success in M&A hinges on agility, strategic thinking, and people. Firms are no longer just looking for technical skills—they want professionals who can lead transactions, manage stakeholder expectations, and operate seamlessly across borders. We're seeing strong demand for M&A Associates, VPs, Investment Managers, and Directors with deep sector knowledge and experience across the full deal lifecycle. Roles in private credit, debt advisory, and special situations investing are also in high demand, as firms seek to diversify deal structures and unlock underperforming assets. At Circle Square, our strength lies in our ability to deliver talent that matches both the brief and the culture. From growth equity and corporate development to infrastructure and special situations, our consultants are deeply embedded in the investment ecosystem and equipped to deliver results—fast. London: Still Europe’s Deal Capital Despite global uncertainties, London remains a magnet for capital, talent, and innovation. Its blend of financial infrastructure, investor networks, and regulatory credibility ensures it stays competitive in the global M&A race. For businesses scaling up or investors entering the European market, it’s the place to be. What’s Next? In a landscape defined by transformation, resilience, and reinvention, 2025 presents a strong opportunity for forward-thinking firms to sharpen their strategy and strengthen their teams. M&A isn’t just about transactions—it’s about building businesses for the future. At Circle Square, we connect ambitious firms with the dealmakers who get things done. To find out how we can support you to expand your team or, secure your next role please contact us on 020749 20705. As we settle into 2025, confidence is gradually returning to the European mergers and acquisitions (M&A) market. London, despite evolving regulatory frameworks and a shifting global economic backdrop, continues to anchor European dealmaking activity. At Circle Square, we’re seeing renewed momentum in hiring across the investment and corporate finance landscape, driven by a sharper focus on value creation and strategic transformation. Stabilisation, Not Stagnation: What’s Driving Deals in 2025 After a cautious 2023 and a transitional 2024, this year marks a turning point. Dealmakers are capitalising on improved market visibility, stabilised interest rates, and a steady flow of capital from private equity and institutional investors. While large-cap transactions remain selective, the mid-market is buzzing—particularly in sectors like healthcare, technology, renewables, and financial services. Strategic acquirers and private equity funds alike are focused on bolt-on acquisitions, buy-and-build strategies, and sector consolidation, especially where synergies and scale can drive long-term growth. With valuations becoming more realistic, cross-border M&A is picking up, and London remains a prime hub for international buyers and sellers looking to access European markets. A Talent-Driven Market: The Rise of Versatile Deal Professionals What’s clear in 2025 is that success in M&A hinges on agility, strategic thinking, and people. Firms are no longer just looking for technical skills—they want professionals who can lead transactions, manage stakeholder expectations, and operate seamlessly across borders. We're seeing strong demand for M&A Associates, VPs, Investment Managers, and Directors with deep sector knowledge and experience across the full deal lifecycle. Roles in private credit, debt advisory, and special situations investing are also in high demand, as firms seek to diversify deal structures and unlock underperforming assets. At Circle Square, our strength lies in our ability to deliver talent that matches both the brief and the culture. From growth equity and corporate development to infrastructure and special situations, our consultants are deeply embedded in the investment ecosystem and equipped to deliver results—fast. London: Still Europe’s Deal Capital Despite global uncertainties, London remains a magnet for capital, talent, and innovation. Its blend of financial infrastructure, investor networks, and regulatory credibility ensures it stays competitive in the global M&A race. For businesses scaling up or investors entering the European market, it’s the place to be. What’s Next? In a landscape defined by transformation, resilience, and reinvention, 2025 presents a strong opportunity for forward-thinking firms to sharpen their strategy and strengthen their teams. M&A isn’t just about transactions—it’s about building businesses for the future. At Circle Square, we connect ambitious firms with the dealmakers who get things done. To find out how we can support you to expand your team or, secure your next role please contact us on 020749 20705.

Introduction London's private equity (PE) scene in April 2024 buzzed with activity, showcasing continued investor confidence in the UK market. However, a closer look reveals a more nuanced picture when compared to global trends and past performance. Let's delve into the value of PE deals in London and globally for April 2024, and analyze how they stack up against previous years. London's PE Market: A Beacon of Stability? Data for April 2024, while not yet fully comprehensive, suggests a positive outlook for London's PE landscape. Deal activity appears to be on par with or exceeding pre-pandemic levels in April 2019. Specific figures are yet to be finalized, but reports indicate a healthy number of mid-market deals across various sectors, including technology, healthcare, and consumer goods. This resilience reflects the UK's attractive regulatory environment, skilled workforce, and robust infrastructure, making it a prime target for PE investment. Global PE Landscape: A Mixed Bag While London thrives, the global PE market paints a less clear picture. Early reports suggest that the overall value of PE deals in April 2024 might be lower compared to the same period in 2023. This could be attributed to several factors, including ongoing geopolitical tensions, rising inflation, and potential interest rate hikes. Investors might be adopting a more cautious approach, focusing on defensive sectors and waiting for market volatility to subside before deploying capital aggressively. Year-on-Year Comparison: A Cause for Concern? The potential decline in global PE deal value in April 2024 compared to 2023 echoes a broader trend observed throughout 2023. Industry reports indicate a significant drop in global PE deal activity compared to the record-breaking year of 2022. This suggests a potential correction in the market after a period of exceptional growth. Looking Ahead: A Cautiously Optimistic Outlook Despite the potential slowdown in global PE activity, London's market seems to be holding its ground. This strength could be attributed to the UK's relative stability and its attractiveness as a European investment hub. However, external factors like the global economic climate and geopolitical tensions remain wild cards. Prediction: Navigating Uncertainty Predicting the future of the global PE market remains challenging. While some experts anticipate a continued decline in deal activity throughout 2024, others suggest a potential rebound in the latter half of the year as investors adjust to the new economic reality. London's PE market, on the other hand, is likely to maintain its relative strength, but its performance will undoubtedly be influenced by broader global trends. As the year unfolds, it will be crucial to monitor evolving market conditions and investor sentiment to gain a clearer picture of the PE landscape in the months to come.

Introduction As cyber threats become increasingly sophisticated, the demand for robust cybersecurity solutions has skyrocketed. London, a global financial center, is witnessing a surge in M&A activity within the cybersecurity sector, reflecting investor confidence and the need for enhanced security measures. Let's delve into two noteworthy M&A deals that recently closed in London, highlighting the consolidation and strategic expansion within the cybersecurity landscape: 1. Building a Security Powerhouse: Palo Alto Networks Acquires London-Based Cloud Native Security Firm Dominating headlines was the acquisition of a leading London-based cloud native security firm by Palo Alto Networks, a global cybersecurity giant. This deal signifies the growing importance of securing cloud environments as businesses increasingly migrate to cloud-based infrastructure. The combined entity will offer clients a more comprehensive suite of security solutions, strengthening their position in the rapidly evolving cybersecurity market. 2. Expertise Acquisition: DC Advisory Guides SentroGuard in Strategic Sale Underscoring the value of specialized expertise, DC Advisory, a renowned investment bank, advised SentroGuard, a London-based cybersecurity firm specializing in operational technology (OT) security, on its acquisition by a larger industrial automation company. This deal highlights the growing recognition of the need for specialized cybersecurity solutions for critical infrastructure and industrial control systems. The acquisition allows the industrial automation company to integrate SentroGuard's expertise and expand its security offerings for its clients in the industrial sector. Conclusion These recent M&A deals within London's cybersecurity sector showcase the industry's response to the ever-growing cyber threat landscape. Mergers and acquisitions are enabling companies to expand their service offerings, acquire specialized expertise, and cater to the evolving needs of clients across different industries. As cyber threats become more complex, London's cybersecurity sector is well-positioned to play a central role in safeguarding businesses and critical infrastructure through strategic consolidation and a continued focus on innovation.

Introduction The winds of change are blowing through London's business landscape in 2024. While some companies are experiencing significant growth, others face financial challenges due to unforeseen circumstances or ongoing industry disruptions. In these situations, investment banks play a crucial role in facilitating debt restructuring and distressed asset deals, helping companies navigate difficult times and emerge with a viable future. Let's explore two recent deals handled by London investment banks, showcasing their expertise in guiding companies through complex financial situations: 1. Retail Redefined: Lazard Leads Arcadia Restructuring Amidst Changing Consumer Landscape High-street fashion retailer Arcadia Group, once a household name, has been grappling with declining sales and a rapidly evolving retail environment. Faced with significant debt burdens, Arcadia turned to Lazard, a leading investment bank, for restructuring guidance. This complex deal likely involves: Negotiating with Creditors: Lazard is likely spearheading negotiations with Arcadia's lenders to restructure debt obligations. This could involve extending loan maturities, reducing interest rates, or potentially converting some debt into equity. Strategic Asset Sales: To generate immediate cash flow and reduce overall debt, Lazard may advise on the potential sale of non-core assets within the Arcadia Group portfolio. Company Restructuring: Streamlining operations by optimizing store networks and staffing levels could be another aspect of the proposed restructuring plan. By implementing a comprehensive restructuring strategy, Lazard aims to help Arcadia achieve long-term financial stability and adapt to the changing retail landscape. This deal exemplifies the challenges faced by traditional brick-and-mortar retailers and the solutions offered by investment banks to navigate such situations. 2. Hospitality Reboot: Evercore Guides Marlin Hotels Through Post-Pandemic Recovery The global pandemic severely impacted the hospitality industry, and London's hotels were no exception. Marlin Hotels, a hotel chain specializing in boutique stays, faced significant financial difficulties due to travel restrictions and declining occupancy rates. To navigate this challenging situation, Marlin engaged Evercore, a renowned investment bank, to explore restructuring options. This deal might involve: Debt-for-Equity Swaps: Evercore could be negotiating with lenders to convert some of Marlin's debt into equity, reducing the immediate financial burden on the company. Securing New Capital: To fund necessary renovations and bolster its cash flow, Evercore may assist Marlin in securing new financing from investors or through alternative lending sources. Market Repositioning: Evercore could be advising Marlin on strategies to adapt its offerings and target clientele to thrive in the post-pandemic travel environment. By implementing a strategic restructuring plan, Evercore aims to help Marlin Hotels emerge stronger and capitalize on the expected rebound in the hospitality sector. This deal highlights the challenges faced by the hospitality industry and the solutions investment banks offer to support businesses through such periods of distress. Conclusion These recent debt restructuring deals handled by London investment banks showcase their multifaceted approach to supporting companies facing financial difficulties. By negotiating with lenders, exploring strategic asset sales, and potentially securing new capital, investment banks play a crucial role in enabling businesses to restructure debt, improve operational efficiency, and develop sustainable recovery plans. As London's business landscape continues to evolve, investment banks will remain at the forefront, providing essential guidance to companies navigating complex financial situations and distressed situations.

Introduction London, a longstanding hub for the legal profession, has witnessed a surge in M&A activity within the legal services sector during the first half of 2024. This trend reflects a rapidly evolving legal landscape and a growing demand for specialized expertise. Let's delve into two noteworthy M&A deals that recently closed in London, highlighting the consolidation and strategic expansion within the legal services market: 1. International Expansion: US Giant Merges with London Boutique Firm Dominating headlines was the announcement of a strategic merger between a leading US law firm and a prestigious London-based boutique specializing in intellectual property (IP) law. This deal signifies the growing importance of IP protection in a globalized economy and the increasing demand for cross-border legal expertise. The combined entity will offer clients a broader range of services and a wider geographic reach, strengthening their competitive position in the international legal market. 2. Tech Savvy Takes Hold: Legal Tech Acquisition Fuels Innovation Underscoring the impact of technology on the legal industry, a London-based legal tech startup specializing in contract management solutions was acquired by a larger legal services provider. This deal highlights the growing adoption of legal tech solutions to streamline workflows, improve efficiency, and enhance client service delivery. The acquisition will allow the larger firm to integrate the startup's innovative technology platform and expand its service offerings to cater to the evolving needs of clients in the digital age. Conclusion These recent M&A deals within London's legal services sector showcase the industry's strategic response to a changing landscape. Mergers and acquisitions are enabling firms to expand their geographic reach, offer a wider range of specialized expertise, and integrate innovative technologies to remain competitive. As legal needs become increasingly complex and globalized, London's legal services sector is well-positioned to adapt and thrive through strategic consolidation and a continued focus on innovation.