Associate, Investment Banking - Technology - London

Associate, Investment Banking - Technology - London, posted 4 June 2026 on Moelis' Experienced-Hires board. The posting describes the Technology team as 'a dedicated sector group advising leading technology, media and telecom (TMT) companies and - in particular - the financial sponsors that own them, across the US, UK, Europe and globally', working as part of the firm's global Technology franchise with a core focus on sponsor-led sell-side M&A processes and technology capital markets. Sector coverage 'spans across the Technology landscape including horizontal & vertical software and data & analytics'. Source

'Technology' is the sector token, but the sentence that actually defines this desk is the one about sponsors. The mandate is 'predominantly financial-sponsor M&A' - sponsor-to-sponsor sales, public-to-privates, minority and growth investments, continuation vehicles. In plain terms: your client is usually a private equity firm selling a software company it already owns, not the founder who built it. That changes the work. The buyer list is other funds, the diligence pack is built for a financial buyer, and the analysis the posting names is ARR build, cohort and retention, net revenue retention and Rule-of-40 rather than a corporate's segment reporting.

'Associate' at an independent advisory firm of this size is not the same seat as Associate at a bulge bracket. The posting has you leading the preparation of sell-side marketing materials, mentoring and supervising analysts, assigning and reviewing their workstreams, and building relationships with sponsors and founders directly. There is no class around you and no VP layer described between you and the senior bankers - the page says Associates 'assume early responsibility, engage directly with senior bankers and financial sponsor clients'.

Our org map holds no node for this desk, so nothing here is prefilled from one. The two London units we do count for Moelis are M&A Advisory and Restructuring, and the Technology group named here is neither - it is a sector group that the posting says 'works as part of the Firm's global Technology franchise'. So the London team is one node in a wider group, and how many people sit in London, and how senior they are, is exactly what this page does not tell you. On a desk this specialised that is worth asking before you interview.

The seat's stated work: detailed quantitative and qualitative analysis including DCF, LBO, comparable companies and precedent transactions, plus software and SaaS-specific analyses - ARR build, cohort and retention, net revenue retention, Rule-of-40; complex three-statement operating models and LBO and sponsor-returns models; leading preparation of sell-side marketing materials including information memoranda, management presentations, teasers, sponsor and investment-committee materials and pitch books; company, industry and market research to find sell-side opportunities and acquisition targets; due diligence coordination covering vendor due diligence, the virtual data room and buyer Q&A; process management and liaison with clients, sponsors and external advisers; mentoring and supervising analysts; and business development through idea generation and sponsor and sector mapping. Source

'Technology' at this desk means software and data, and the vocabulary follows from that. Net revenue retention above 120% is elite and below 100% means revenue is leaking; the Rule of 40 adds growth to EBITDA margin and wants 40 or better; ARR, GRR, magic number and burn multiple are the rest of the toolkit. Cohort analysis beats blended averages almost everywhere in this sector, and selective cohort reporting is a classic red flag - so are take-rate compression, understated customer acquisition cost (often two to three times the headline), over-adjusted EBITDA, and more than 20% of revenue coming from the top ten customers. Those are the numbers a sponsor-led sell-side process is built to present and a buyer's diligence is built to attack. Source

12 people have held London roles in Moelis' M&A Advisory unit since 2018, and 27 in its Restructuring unit. there is no separate count for the Technology group, so treat those two as the shape of the London office rather than the size of this desk.

Moelis & Company describes itself as a leading global independent investment bank providing strategic advice and solutions to corporations, governments and financial sponsors, advising on mergers and acquisitions, recapitalisations and restructurings, capital markets transactions and other corporate finance matters, and serving clients from 23 locations across North and South America, Europe, the Middle East, Asia and Australia. Source

139 people have held London roles at Moelis & Company as a whole since 2018 - a substantial London presence for an independent firm, and larger than the two units we break out beneath it would suggest.

This is as specific as a lateral advert gets, and the specificity is the message: minimum three years of relevant investment banking experience, direct technology sector experience strongly preferred, and - the line that decides it - demonstrable execution on four to six technology transactions with a minimum of two to three that reached signing or completion, plus prior work with financial sponsors described as essential. A desk that writes a deal count into its requirements knows exactly what it is missing, and a near-miss on that line will not be argued around in a cover letter.

No deadline is stated and the advert has been up since 4 June 2026 - three months. We do not mark a posting closed without positive evidence, so treat it as live and unverified. But a boutique seat this old is either quietly filled or genuinely hard to fill, and with requirements this narrow the second is the likelier of the two. If you match the deal count, a direct approach beats the form.

Required: strong analytical, financial modelling and presentation skills; a solid understanding of accounting, corporate finance and valuation methodologies, including software and SaaS and other technology operating metrics; a minimum of three years of relevant investment banking experience in technology or TMT M&A or corporate finance, with experience at a sponsor-focused or sell-side advisory practice or in technology-focused private equity called particularly relevant; direct technology sector experience strongly preferred, across vertical and horizontal application software and data and analytics; demonstrable execution on at least four to six technology transactions with a focus on sponsor-led sell-side M&A, of which two to three should have reached signing or completion, with prior experience advising financial sponsors described as essential; a client-focused mindset; excellent communication; Excel, PowerPoint and Word; and fluency in English, with an additional European language advantageous. Source

For a student this is a closed door and it is worth reading anyway, because it is an unusually honest syllabus for a technology banking interview at a sponsor-focused firm. Everything they want is listed: LBO and sponsor-returns models, three-statement operating models, ARR builds, cohort retention, the CIM and the data room, and enough sector knowledge to tell vertical software from horizontal. If Moelis is on your list, this page tells you what its technology bankers spend their day doing - and the Experienced-Hires board it sits on tells you this is not where its graduate seats are advertised.