Jefferies FIG MD leaves for Big Four firm in more or less equivalent role
Investment banking isn’t sales & trading, but it is a job based on relationships (as Ken Moelis said recently).
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Hugh Man joined PwC in London earlier this week as a partner in the firm’s corporate finance & advisory team, specializing in investment banking for insurance clients. He joined the Big Four firm from investment bank Jefferies, where he spent three and a half years as an MD in the FIG group. He was at Credit Suisse for five years as an MD before that.
Moving from an investment bank to a Big Four firm isn’t unheard of, but it isn’t exactly common, either. PwC is an odd choice of firm, too: among the Big Four, it’s best known for its audit capabilities.
It’s also in a bit of a hiring pickle at the moment: The Financial Times reported that the firm firm’s partner attrition rate had doubled in 2024 compared to 2023, and it had halted recruitment to its “flying start” apprenticeship scheme. 27 of 91 students from last year’s apprentice cohort weren’t offered jobs at the end of the scheme, it said.
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