What’s happening 9,966 miles away?
Some key takeaways from the US market on our monthly call with JMES Partner Ali Roger and JL Partner Frick Jones.
The Monthly Recap - October
High level observations
- The Government shutdown continues to be causing material issues across the US
- That being said the recruitment market has picked up and mood more positive for Q4
- Definitely seeing a sharp rise in defaults across the auto loan market - fears it's a repeat of the Real Estate market defaults of 2008
Investment Banking
- Really seen the market pick up over last month or so, particular need for lead execution specialists (VP / Junior Director level) which is a notoriously tight level to hire for
- Increased volume of Sponsor driven mandates as there is a push to deploy capital by the Funds
- Hiring across the Restructuring firms and Debt & Capital Advisory spaces continues to be very active
Alternatives
- AI remains a huge development focus in the US but not yet seeing the required support for the Renewable Energy efforts needed to fuel the AI world
- Real Estate market busy and focus remains on Data Centre build outs but need to couple with the renewables push
- Private Markets - The “Democratizing Access to Alternative Assets for 401(k) Investors” Order is driving additional hiring, especially those deemed as "Sub-Institutional" managers, across 1. Portfolio Management - to take them up to an Institutional level and 2. Capital Raising to capture theses Investors. This uptick has already been noticed in Real Estate and Family Offices.
Want to know more? Get in touch with Ali Roger: aroger@jmes.com.au
Recommended
