The largest merger and acquisition (M&A) deal of all time remains the hostile takeover of Mannesmann AG by Vodafone AirTouch PLC in 1999–2000, a landmark transaction that reshaped the global telecommunications landscape and set a record that has stood for over two decades. The Record-Breaking Deal In late 1999, British telecom giant Vodafone AirTouch (formed after Vodafone's earlier acquisition of AirTouch Communications) launched an audacious bid for Mannesmann AG, a German industrial...

Discussions over a tie-up to create the world’s largest mining group come as race to secure copper reshapes the sector https://www.ft.com/content/33b05a8b-9de0-4e70-8530-7237df1bf0d9

More than 200,000 European banking jobs are under threat over the next five years as lenders increasingly embrace artificial intelligence. https://www.ft.com/content/71e12f85-1edb-4156-8cb5-3fe8aef36d93

Highest-ever number of megadeals lifts total value of M&A by 50% in 2025 https://www.ft.com/content/46b87305-4bd7-4e64-81f9-ad6b9a9bc429

Artificial intelligence has arrived across the financial services industry with the force of a market disruption, and the anxiety is universal. Investment banking analysts watch as AI tools fix typos, alignment on presentations and draft pitch books within minutes. Sales and trading desks see algorithms execute trades with superhuman speed. Actuaries find AI models processing vast datasets they once spent weeks analyzing. Consultants realize that AI can generate frameworks and slide decks...

In this episode Alex discusses the investment banking industry with a Bocconi alumni, who spent 15 years in the trenches as a Director at Morgan Stanley's Capital Markets division. They cover topics like breaking in, AI, exit opportunities and the future of the industry.

If you’re a student or junior banker looking at investment banking, it’s natural to focus almost entirely on technical skills. You’re told to master accounting, valuation, financial modelling, and Excel shortcuts. All of that matters, especially early on. But there’s a skill that quietly becomes just as important, and often much earlier than people expect: communication. Not polished public speaking or “soft skills” in the abstract, but the ability to communicate clearly, confidently, and...

For most students and junior bankers, “investment banking” is taught as a linear, rational process. You analyse a company, build a model, prepare a polished deck, pitch to the client, and eventually execute a transaction. Actually, that description captures only half of the job, and in many cases not the half that determines whether a deal actually gets done. Capital markets sit at the intersection of investment banking, sales & trading, and investors (still within the bank’s private side)...

Experts discuss what investors need to know for 2026 at the annual FT Money roundtable. https://www.ft.com/content/21f59bee-8747-4a44-b992-336ef4c5157f

Funds such as Balyasny, Jain Global and Qube are expanding operations to allow them to trade underlying markets https://www.ft.com/content/598c3bfc-008c-438f-837c-f7ec73a993f6

Paramount has launched a $108bn hostile bid to buy Warner Bros Discovery. https://www.ft.com/content/7981af0e-ad93-4c11-8c1c-09b0167bf4d6

The actuarial profession remains one of the most intellectually demanding and financially rewarding career paths in London and across Europe. While many associate actuaries purely with insurance, the reality is far more diverse—these professionals are the mathematical architects behind pension schemes, investment strategies, risk management frameworks, and regulatory compliance across the financial services sector. London, as Europe's financial capital, hosts the greatest concentration of...

Global Markets, often encompassing Sales and Trading (S&T) roles in investment banks, includes activities like equities, fixed income, currencies, commodities (FICC), structuring, and research. Compensation in this sector is highly variable, depending on factors such as desk performance (e.g., macro trading vs. equities sales), individual contributions, firm type (bulge bracket vs. European banks), and market conditions. In 2025, S&T pay in London has seen modest increases of 5-10%...

This guide provides an overview of management consulting salaries in London and broader Europe for 2025, based on recent data from industry sources. Salaries vary by firm tier (e.g., MBB: McKinsey, BCG, Bain; Big Four: Deloitte, EY, KPMG, PwC; boutiques and others), experience level, and location. London often commands a premium within the UK due to cost of living, but data is generally UK-wide unless specified. European figures are in EUR and reflect regional differences, with DACH...

The Big 4 accounting firms—Deloitte, PwC, EY, and KPMG—offer competitive salaries that vary by role, experience, qualifications (e.g., ACA, ACCA), department (e.g., audit, tax, advisory), and location. London typically commands a premium due to higher living costs, often 10-20% above other UK regions. In Europe, salaries differ significantly by country, with Northern Europe (e.g., Germany, Netherlands) generally higher than Southern Europe (e.g., Spain). Data is drawn from 2025 sources and...

Private equity (PE) compensation in London and broader Europe remains highly competitive in 2025, driven by factors like fund size, asset class, experience, and regional differences. Data from recent surveys shows that total compensation typically includes base salary, annual bonus, carried interest (carry), and sometimes co-investments. Growth in base and bonuses has slowed compared to previous years, with a 3-year compound annual growth rate (CAGR) for total compensation around 6.5% across...

Introduction The financial services sector hosts two powerhouse groups: the Big 4 accounting firms—Deloitte, PwC, EY, and KPMG—and the Bulge Bracket investment banks like Goldman Sachs, JPMorgan Chase, Morgan Stanley, Citigroup, Bank of America Merrill Lynch, Barclays, and Deutsche Bank. Big 4 firms dominate audit, tax, risk advisory, and consulting, treating investment banking as a secondary arm focused on mid-market transactions. Bulge Bracket banks, by contrast, specialize in massive...

Preparing as a Graduate for the Big Four in the AI Era As the Big Four firms (Deloitte, PwC, EY, and KPMG) redefine professional services through AI integration—automating routine tasks, launching AI assurance services, and shifting toward tech-driven models—graduates face a more competitive landscape with reduced entry-level hires. Traditional accounting roles are evolving, with AI handling up to 90% of audits and data processes, creating demand for hybrids of technical expertise...

Breaking into investment banking (IB) from a Big Four firm (Deloitte, PwC, EY, or KPMG) is absolutely possible—and quite common among those who plan it right. Thousands of accountants and consultants make this switch each year, often landing roles in M&A advisory, leveraged finance, or coverage groups at bulge bracket (BB), elite boutique (EB), or middle-market firms. The Big Four's brand opens doors, and your experience with financial statements, due diligence, and client interactions...

The late 1980s saw the rise of the Leveraged Buyout (LBO) era, exemplified by KKR’s acquisition of RJR Nabisco. The core concept was to acquire a business with a high level of borrowed funds, improve operations, and use the company’s cash flows to repay the debt. While the term “LBO” still carries the whiff of 1980s financial aggression, the modern version is much more disciplined. Today, private equity (PE) investors think about leverage as a precise financial tool, a way to optimise...