Truist CIB Credit Delivery
Hey guys,
Anyone have any insights on how the CIB Credit Delivery Summer Analyst program is like at Truist? Would like to hear a bit more about exit ops, as well as the function of the team. Any input is appreciated.
Bump
It is corporate credit portfolio management. Not directly corporate banking.
Truist's CIB Credit Delivery program is formerly the Portfolio Management group at STRH. They sit within the investment bank and are split by industry vertical. The function of the group is to essentially underwrite new Term Loans and Revolvers to the banks existing, and sometimes new, clients. Additionally the group monitors it's existing credits via quarterly and annual reviews. The group works very closely with the Acquisition Finance team and there is some overlap depending on what vertical you are in. You develop a pretty solid skillset as the position is pretty technical when you start to underwrite certain credits. The group does there own modeling and works closely with VP and Director level PMs. The hours are a lot better than your typical IB analyst position but base salary for a first year is typically $80k. As far as the internship you will do a new underwrite or annual review as part of your project as well as help out the analysts with their quarterly reviews and annual reviews. It's a pretty good internship experience in my opinion. Happy to elaborate more if helpful - feel free to PM me.
Believe base moved up to $100k recently (bonus came down, although not sure if that was a one off thing). Also will add that exits are primarily to other groups at Truist or a few external IBs (LevFin / Coverage / Acquisition Finance), and others leave to PC (have included MidCap, Antares, TPG Twinbrook, and some others)
Truist's CIB Credit Delivery really means underwriting live deals and portfolio management. The group is further split specialized groups: ABF/ABL, LevFin/Coverage ("Corporate & Leveraged Finance"), Commercial Banking ("Commercial Corporate Finance"), Working Capital Solutions, etc... Truist has restructured a lot but generally its all underwriting and PM work for analysts, good job for the hours and good culture in LevFin/Coverage ("Corporate & Leveraged Finance"). Comp is good for working 45-60 hours a week, you are only using word and excell for underwriting live deals when they are actually going to happen, no pitch work. Exits are interesting, many analyst move to Coverage groups or product groups, using credit delivery as a "G league" to train; others go to private credit shops, mainly MidCap and MM.
If you’re in the group, how many people end up in LevFin/DCM. I see the group has a lot of turnover, what are the exits like proportionally
Most go to levfin or PC. You can check LinkedIn for more exits
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