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I work in FDD and we will catch recruiter emails/LinkedIN messages from time to time from investment banks. No one in my group has made the move since I’ve joined.
If you are trying to make the move. I would do exactly what I tell anyone whose job hunting to do. Go on LinkedIn and start trying to get on the phone with people in the roles at various places. That way as soon as an associate role opens up - you are on their mind.
Agree with PwC 1^ Also, I would imagine this is a great time to connect with new individuals, since it seems like M&A has seen a decrease in workload. You (as well as the people you are connecting to) might have more flexibility if you've seen decreases in your workloads.