Capital Markets in Smaller Cities? Forum

[catalinawinemixer]

Are there generally healthy opportunities to practice as a capital markets attorney at law firms in smaller markets (think cities like STL/MIL/ATL)? I know some firms in smaller cities advertise a minor capital markets practice, but the groups seem so small that I'm not sure whether to take them seriously as potential options for lateraling down the road.

I'm thinking of starting in capital markets in NYC but would eventually like to move home and wondering if general corporate or M&A might be less geographically limiting than capital markets. Anyone have any experience with this?

Thanks!

[Anonymous User]

The only real option for Cap Markets in a secondary city is Charlotte. And even that is somewhat limiting (CMBS, CLOs, etc. but no real general cap markets presence). If you go somewhere like Atlanta or St Louis you're looking at like...servicer or loan seller work on CMBS maybe? Maybe some amount of CLO work? I don't think I've ever seen a Milwaukee firm on any cap markets deal in any capacity.

Honestly your best option for cap markets in those cities is probably to start in an NYC cap markets practice and then ask to go remote after a few years (or lateral to somewhere that will allow it).

[Anonymous User]

Are there generally healthy opportunities to practice as a capital markets attorney at law firms in smaller markets (think cities like STL/MIL/ATL)? I know some firms in smaller cities advertise a minor capital markets practice, but the groups seem so small that I'm not sure whether to take them seriously as potential options for lateraling down the road.

I'm thinking of starting in capital markets in NYC but would eventually like to move home and wondering if general corporate or M&A might be less geographically limiting than capital markets. Anyone have any experience with this?

Thanks!

i did something similar - think MIL/MIN/PHL/PHX as far as secondary market - and ended up having to lateral back to a NY firm on a remote basis because the caliber of work just isn't there. IME, m&a is much more portable.

[catalinawinemixer]

Thanks all for the responses! Really helpful. The remote option especially is interesting and not something I had heard of previously. Was working for a NYC (or other large city) firm on a remote basis possible even before the pandemic? Any advice regarding firms that are more or less receptive to that arrangement?