m&a s under the valuation group. its ib job. but i dont think any ib ll have the m&a depart. cus its time consuming n people intensive. i think the consulting part of big 4 r doing ib jobs, but those r more auditing part. but its pretty hard to make the transfer to big ibs, especially front desk job. mfe students r preparing for quant n portfolio management jobs, which r mid office or it guys. i think if u wanna go to ib, such as gs, jp, morgan, citi... u should go to mba programs. n must be big name ones, such as stern. they r highly reputated in the street. idk much about hk situation sorry in this point.