Private Credit from Corporate Banking?
Hey y’all,
Ignore position title. I am currently a creditor underwriting for large corporations (working with the IB team) in a strong coverage group at a large BB. My long term goal is to break into private credit. I heard it is extremely difficult to make it into PC from being a simple underwriter, even if it is for the IB team. However, I heard it is possible from corporate banking. Does anyone have any color they can provide on my current position? Is it possible to move over in the future from my current role or do I have to do CB or IB first? Thanks!
Based on the most helpful WSO content, here are some insights regarding your situation:
Transition from Corporate Banking to Private Credit:
Current Role and Future Moves:
Considerations for Moving to Private Credit:
Alternative Pathways:
In summary, while it might be challenging to move directly from an underwriting role to Private Credit, leveraging your current experience, networking, and possibly transitioning through CB or IB can enhance your chances.
Sources: Is Corporate Banking that much worse than IB?, IB chance VS Ops sure thing, Unpacking Corporate Banking at Citi/BAML?, Transitioning from tech to a serious finance job (yes, you read that right), Lateral from CB to IB?
Does your team hold the pen to the model? Are you working on leveraged deals? If so, I'd see a path forward to make the leap.
Truthfully no, I think there’s a small possibility to move to a lev fin team which does do a lot of modeling but we do not. That’s why I’m thinking I’ll have to make a switch at some point
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