New York bankers primarily serve the United States, although many groups also work on international transactions. Because the U.S. has deep capital markets and a large corporate base, teams can build substantial businesses around domestic clients and transactions.
London is the leading banking hub for Europe, the Middle East, and Africa, commonly called 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.