hey Everyone - welcome!
So do any of you currently work in restructuring? If so, where at (if you don't mind sharing...)
I was at Rothschild in 2002-2004.
-Patrick
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I'll be joining a bank (similar to Rothschild) as a generalist and they are currently doing a lot of restructuring work. If you would like, I could pm you where I'll be working. I just don't feel comfortable with everyone knowing.
Hi all,
I started full-time as a generalist first-year over the summer and i've since been tapped to join my firm's brand new restructuring and special situation team. It started a few years ago and now is really taking off over the past few months. Since the group's dealflow is countercyclical to the overall economy, I think we'll be picking up the fee slack while all the healthy M&A deals die around us.
I think that restructuring is a great way to develop a special skill set, as you learn a great deal about US Bankruptcy code, 363 sales, etc. Additionally, you're not stuck in an industry silo; at least at my bank we get the chance to work across all coverage groups.
I wouldn't be surprised if our group is the only one allowed to increase headcount next year. I can hardly keep up as the only analyst! Right now i'm working with a distressed homebuilder and an ethanol producer.
I hope this group grows and we can keep our discussions going; it's going to get very exciting in the space over the next months/years.
Cheers, Jack
not a surprise to hear about the distressed homebuilder - but what kind of ethanol business?
That's interesting. Any other industries you think that will have a lot of casualties in the near future?
LOL, Verasun. I was at the first day hearing. I'm on the law side, headed to a top restructuring group pretty soon. Clerking for a bankruptcy judge in between. Hope to move from the law side to investing in a couple years. I like the control-driven PE shops like Cerberus, Oaktree, Monomoy, and Longroad.
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I'll be joining a restructuring group next summer as a 1st year. I'm actually really excited; I expect I'll spend less time having to do pitches and more time on transactions as default rates across the country continue to rise.
Getco, just make sure you are ready to work 90+ hour weeks. You will learn a ton, but just be ready to suck it up.
At times it will get very painful, but try to keep the big picture in mind while you're plowing away. It sounds like you have the right attitude, just make sure you don't bitch about being put on pitches when you first start :)
-Patrick
I signed with a premier boutique in the restructuring group and will start next summer. I'm pretty excited about the experience I'll get, but I completely expect to put in a lot of hours. Any advice on what I could do in the meantime to hit the ground running? I graduate in December so I have a full 5-6 months to put to good use.
^^hey, maybe you want to edit your post's title.
Your post suggests you would prefer not letting us know where you work but your title mentions the firm.
haha thanks for that. I changed the original post but didn't change the subject. It's not that I prefer not letting you know where I work... If it ever becomes relevant, I'll bring it up.
Hi, all! I just accepted an offer to work in HLHZ's restructuring practice come next summer. Look forward to those 90+ hr/weeks. Any advice on what to do to prepare for the experience beforehand would be appreciated. Look forward to informative discussions.
hey everyone, I'm coming from a little different background as I just signed with FTI Consulting's corpfin restructuring group. I'll be starting next fall in a west coast office. For those of you experienced in the field, I'm completely new to this industry sector and although my position certainly doesnt qualify as banking to any extent, how will my work be similar or different from a banks restructuring practice? Anybody have contacts who've worked for a consultancy's restructuring practice? Anyways, I'm excited either way and am just happy to have a job.
Currently banking in London. Have always been interested in restructuring (since studying bankruptcy law in college).
Although not in the restructuring group of my bank right now, would like to make the switch in the next rotation (1,2 years)
How are you restructuring bankers doing these days... busy as hell I would guess....
Anyways, Merry Christmas to you all.
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