New York bankers primarily serve U.S. clients, although many groups also work on international transactions. The depth of U.S. capital markets and the size of its corporate base allow teams to build substantial businesses around domestic clients and transactions.
London is the leading banking hub for Europe, the Middle East, and Africa, commonly known as EMEA. A London team may coordinate with offices across several countries, especially on cross-border mergers and acquisitions or financing assignments. Analysts can therefore encounter more currencies, legal systems, and market conventions.