Asset Based Lending Exit Opps
I was offered a role for an abl development program and was wondering what are potential exit opps? The type of loan I would be working on are also in a specific area, so I’m worried it might pigeonhole me. Since it’s a more nicher area would I be able to get the necessary technical/quantitative skills to pivot into other areas if I don’t like it? I’m also interested in credit risk analytics and fp&a which can be more technical and didn’t know how transferable these skills would be. Thanks!
Most people move to other parts of the bank’s balance sheet lending businesses, like generalist commercial banking, corporate banking, leasing, etc. If your bank does mezzanine lending, that could be an interesting group to rotate to for hairier deals/potentially higher comp/PE-like exits. Capital markets ABL also deals with larger sponsor deals so you may have the option to rotate to DCM/Lev Fin but I suspect that’s a tougher move.
Isn’t abl an investment banking group? Why would someone move to commercial banking or corporate finance?
I think at this bank, it’s in its own category. It works with generally middle market firms.
It depends on how the bank organizes the ABL group. At larger banks you might see both capital markets ABL (i.e. using capital markets balance sheet like a CB group, doing syndicated deals to try to source other IB fees) and commercial banking ABL (bank’s deposits based balance sheet) as two mostly distinct teams. At a smaller bank, they may just be one team under the commercial banking arm taking smaller syndicate positions/doing bilateral (i.e. single bank) deals.
CIT?
It’s at a larger regional bank
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