FDD for Financial Institutions vs Non-FS?
Can anyone shed some light on what the work in FDD groups is like for Financial Services group vs non-FS? For non-FS, it seems pretty straightforward QoE, NWC, and Net Debt, with a lot of areas former auditors could pick apart like cash vs accrual.
However, given financials are so regulated, it doesn't seem like that stuff would be as relevant. Also EBIDTA would be less meaningful, and I'm not sure how NWC would matter either. Seems like a lot of the work you would care about in financial acquisitions would need to be done more by valuation specialists/actuaries (insurance). Are FDD teams for financials more like project managers? Or what are the other standard analyses done that I'm missing?
Sorry this in in IB, but this is where most of the FDD questions seem to go. Thanks!
bump
FDD is very basis on which financing & investment decisions are made. they flow through the models we build.
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