Investment Banking - UK FIG - Analyst - London

Token by token: 'Investment Banking' is the division (the business unit field reads Commercial & Investment Bank), 'UK FIG' is the UK team inside the EMEA Financial Institutions Group, 'Analyst' is the band and the job category, and 'London' is the only location given - this row carries no street address. It was posted on 15 May 2026 and shows no apply-before date. The firm states the opportunity is at analyst level in the UK FIG team within the EMEA Financial Institutions Group. Source

The stated job: coverage of the UK FIG market across both capital-light and capital-heavy sectors - banks, asset and wealth management, insurance and insurance services, market infrastructure and fintech; completion of large and complex valuation and analytical exercises; preparing presentation books, management presentations, board materials and memoranda for M&A and capital markets transactions; transaction execution including due diligence, document preparation, negotiation and liaising with the client and other advisers; and keeping abreast of key market and regulatory developments. Source

'Capital-light and capital-heavy' is the phrase to decode, because it is how FIG bankers actually sort their own patch. Banks and insurers carry regulatory capital against their balance sheets and are constrained by it, which is why they are valued on book and returns rather than on earnings multiples. Asset and wealth managers, market infrastructure and fintechs mostly do not, and are valued on fees, flows and growth. One UK FIG desk covers both, and they are two different analytical jobs sharing a client list.

'Analyst' is a band, not an entry point. The qualifications ask for roughly one to two years of investment banking experience, so this is a lateral hire for someone already doing the job somewhere else. Our row tags the programme 'unknown'; the honest answer is that it is an experienced analyst seat, and there is no internship, graduate scheme or training programme behind it.

The EMEA Financial Institutions Group is responsible for the origination and execution of public and private M&A and capital markets transactions involving corporate, financial sponsor and government clients, and the firm says it maintains leading relationships with many of the most prominent clients in the EMEA financial services industry. Its remit covers mergers, acquisitions, divestitures and capital markets transactions, plus market-leading corporate broking services across the UK FIG client base, worked alongside colleagues from other product teams. Source

FIG runs a fundamentally different analytical framework from corporate coverage, and valuing a bank like a corporate is the classic way to lose an interview before it starts. The regulatory lens is non-negotiable: CET1 ratios, leverage ratios, MREL and Solvency II. Banks are capital-constrained and cannot grow assets freely, and P/E multiples are useless - you work in net interest income, net revenue, operating profit, ROTE and justified price to tangible book. Each subsector has its own metric stack: embedded value and VNB margin for life insurers, combined ratios for property and casualty, revenue yield in basis points for asset managers, take rate and net revenue retention for fintechs rather than payment volume alone. Expect questions on IFRS 9 overlays, Solvency II matching adjustments, the IFRS 17 transition, and PRA, FCA and ECB approval timelines of six to eighteen months on M&A. Source

215 people have held London roles in JPMorgan's investment banking division since 2018, the division this desk sits in and the largest London unit for the firm. there is no separate count for the UK FIG team itself.

This row has no closing date and has been sitting in the feed since 15 May 2026 - nearly four months by early September. That means one of two things: rolling review on a seat that is hard to fill, or a row the firm has not taken down. We do not mark a posting closed on absence alone, so do not treat it as gone; do confirm it is live with the firm before you build an application around it, and if you are a strong fit, an email to the recruiter beats a form submitted into a four-month-old listing.

If you are a student, read this row as a map rather than a job. 'About one to two years of investment banking experience' is the standard first-move window in London: people who joined a graduate programme, learn the job, and are then hired sideways onto a desk like this one. It tells you the ladder is real and where the second rung is - and that the entrance to this team is the summer analyst and graduate rows, not this one.

Required: approximately one to two years of investment banking experience, with a preference for candidates who have FIG experience; outstanding financial analysis and modelling skills; an in-depth understanding of investment banking products; experience dealing with clients and other transactional advisers; a willingness to develop and the ability to learn quickly; a team player with solid communication and project management skills; and excellent technology skills with superior Excel and PowerPoint. The role encompasses regulated activity, so the successful candidate must meet the firm's assessment of fitness, propriety, knowledge and competence and, where appropriate, be approved by the relevant regulatory authorities. Source

The one-to-two-year window is a real filter in both directions. Under it and you cannot yet run a process without supervision, which is what the seat needs; well over it and the desk would be hiring an associate instead, which is what the sibling rows on this page are doing. If you are eighteen months into an analyst programme at another bank and want FIG, this row is aimed squarely at you and prior FIG experience is a preference rather than a requirement.

Note what is absent: no degree class, no graduation window, no visa or right-to-work line, no assessment stages. Nothing here is being tested except deal experience, so a student or a graduate with only internships behind them cannot clear the first requirement however good the application is.