Am i in IB or not?
Recently started working at a commercial bank in their leveraged finance team. We lend to financial sponsors who LBO highly leveraged companies through syndication processes and often are lead left on these transactions. Although we are not an investment bank, does this qualify as IB levfin experience or no?
Edit: I meant to ask is the work similar to traditional IB Levfin, not trynna claim that I am an I-banker.
If your title isn’t investment banking analyst year 1 in “coverage group” or “product group” your not a investment banker. pretty simple
Sounds like IB levfin to me
If you’re not running the syndication, then no. I’d assume that is an investment banking team doing that? Sounds like you’re a commercial banking analyst to me.
Thats the thing, we do run the syndication with our direct relationships to sponsors. The only time an investment bank gets involved is when they are the one selling the company which is the respective coverage team.
This sounds like Webster Bank
This is the same thing the Santander FSG/LevFin group does too
No, Santanders FSG/levfin sits in the IB, not the commercial bank.
No, thats not IB.
How exactly does the work differ from IB Levfin? Curious to know so I can prepare
Could probably get away with calling it merchant banking
idk weren't merchant banks the banks that threw up some of the financing for lbos? while I have ur attention can i have a job please
cheers,
cheetahs in cities
Like you said that’s commercial banking. Probably covering middle market companies. Not IB, but could still exit into PC.
Brudda u even call it commercial banking
Title of the post might be misleading, but I more meant is the work I’m doing comparable to traditional IB levfin. As far as i know commercial banks dont typically act as lead arranger for PE sponsored LBOs so wanted to figure out how to best portray it on the resume
This is similar to JP Morgan’s middle market syndicated finance group which is housed in the commercial bank but goes to market under JPmorgan (the investment bank) instead of chase (the commercial bank). What are your hours and comp like?
Actually just heard the same thing from a friend regarding JPM middle market banking group. Hours for me are 50-60ish normally but go to 80 when sponsor timelines are rushed. All-in comp for first year ranges from 130-150k.
Sounds like you have a great gig in terms of wlb to comp. I feel like the title of being in “IB” doesn’t really matter so much as you are getting exposure to relevant deals for whatever you are interested which it sounds like you are. Do you have plans to stay in ur role? jumping to private credit sounds like a direct fit and so does moving to a fully fledged IB leveraged finance team if interested
Based on the info you’ve shared I would title it leveraged finance analyst on my cv and just roll with it
You aren't.
But this is a fantastic start to lateral in a year's time to a leveraged finance or sponsors team. Start networking and building your lbo modelling skills in the meantime.
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