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There are various possibilities from research to portfolio managem't. There are buy side analysts who everntually go to set up their funds or becomes fund managers working for others. To me, both equity research and sales are good starting point for portfolio management. (Of course there are other routes. For instance, there are portfolio managers/equity analysts joining the sales force.)
But in general, stay at buy side will make your chance larger. Also, firm cultures differ. Some fund houses seperate research n trading/fund management strictly while some don't.
Traders more likely to go to hedge funds. Apart from that, being an equity researcher at IB or AM doesn't make too much difference, though i feel AM slightly better for your case. IB more crappy from time to time.