Business services

You help advise companies that sell services to other businesses on buying, selling and merging, as an associate in an investment bank's deal team. The seat sits in the EMEA Business Services team at Moelis & Company in London. Business services means firms whose product is people and expertise, such as professional services, environmental and sustainability services, design and engineering, testing, inspection and certification, distribution, commercial services, and technology-enabled and industrial services.

The team advises on mergers and acquisitions, on sales and purchases led by financial sponsors, which are private equity funds that buy companies, on equity capital markets, which is raising money by selling shares, and on recapitalisations, which change the mix of debt and equity a company is funded with. Associate here is the rank above analyst. You take charge of the analysis on a deal, check the analysts' work and deal directly with senior bankers and clients.