The recently released 2024 Prospect Rock Partners Movers Report offers a comprehensive analysis of senior investment banker recruitment patterns over the past nine months. This strategic look at banking trends in senior-level recruitment provides invaluable insights for industry leaders and HR professionals alike.

Key Highlights of the 2024 Movers Report

1. Overall Movement Trends

• 121 senior investment bankers changed jobs between October 2023 and June 2024.
• The report tracked movements across various sectors and firms, offering a panoramic view of the industry’s talent landscape.

2. Sector-Specific Trends

• Technology, Healthcare, and Industrials dominated the sell-side moves, accounting for 55% of all transitions.
• The Technology & Services sector led with 30 moves, followed by Healthcare with 13, and Industrials with 6.

3. Top Talent Magnets

• Santander and Cantor Fitzgerald emerged as the leading talent attractors.
• Santander added 11 senior bankers, with a 100% focus on building out its tech group.
• Cantor Fitzgerald brought in 10 new senior bankers across various sectors.

4. Buy-Side Attraction

• 33 out of the 121 ‘movers’ (27%) left banking for new buy-side positions.
• Private Equity continued to dominate buy-side moves, accounting for over a third (36%) of all transitions to the buy side.

Detailed Insights

Sell-Side Moves by Firm

• Santander and Cantor Fitzgerald accounted for nearly a quarter (24%) of all sell-side moves.
• Other significant movers included Leerink Partners and Wells Fargo, each with 5 new senior hires.

Sell-Side Moves by Sector

1. Technology & Services: 30 moves
2. Healthcare: 13 moves
3. Industrials Group: 6 moves
4. Leveraged Finance: 4 moves
5. Equity Capital Markets: 4 moves

Buy-Side Moves

• Elliot Management led with 3 new hires.
• Several firms, including Cantor Fitzgerald, Corinthia Global Management Limited, William Blair, Blue Owl Capital, and T.D. Securities, each added 2 senior bankers.

Why This Report Matters

1. Competitive Intelligence: Gain a clear understanding of where your competitors are focusing their recruitment efforts.
2. Strategic Planning: Use the insights to inform your talent acquisition strategies for late 2024 and 2025.
3. Industry Trends: Identify emerging patterns in talent movement that could signal shifts in the investment banking landscape.
4. Talent Retention: Understanding why top talent moves can help you improve your retention strategies.

Leveraging the Insights

To make the most of the 2024 Prospect Rock Partners Movers Report:

1. Analyze the sector-specific data to align your recruitment efforts with industry growth areas, particularly in Technology, Healthcare, and Industrials.
2. Study the strategies of successful talent magnets like Santander and Cantor Fitzgerald to improve your own attraction and retention methods.
3. Consider the continued draw of the buy-side, especially Private Equity, in your talent retention strategies.
4. Use the comprehensive index of 121 ‘movers’ to identify potential candidates and understand talent flow within the industry.

Conclusion

The 2024 Prospect Rock Partners Movers Report provides an essential snapshot of the current investment banking talent landscape. By offering detailed analysis of recruitment patterns, sector focus, and talent movement, this report equips you with the knowledge needed to make informed decisions in an increasingly competitive market.

Stay ahead of the curve and ensure your institution is well-positioned to attract and retain top talent in the coming years. The trends highlighted in this report, from the dominance of tech sector moves to the continued allure of private equity, offer valuable guidance for shaping your recruitment strategies for late 2024 and beyond.