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.