Anyone have additional insights on the Corporate Coverage team at BNP Paribas (e.g., exit opportunities, deal flow, team culture, etc)? Also, is this IB or corporate banking?
Thank you in advance!
| +121 | New Article: Dramatic Slide as UBS #22 (US) & New Leadership Desperately Needed | 23 | 9h |
| +99 | Americas M&A League Table Q2 Updated | 44 | 4h |
| +72 | Wealthy Parents / Jaded | 24 | 11h |
| +56 | How are hours rn for SA (interns) | 31 | 7h |
| +48 | Venezuela Debt Restructuring - LAZ vs CVP | 22 | 23h |
| +44 | A COMPLETE GUIDE TO SUMMER INTERNSHIP RECRUITING | 11 | 5h |
| +37 | Boutique firm wants access to my LinkedIn? | 34 | 4h |
| +31 | Investment Banking in Mexico | 9 | 8h |
| +26 | MM bottom bucket bonus | 9 | 3d |
| +25 | UBS GIG, LevFin, FSG Interns working Sundays and 85 hour weeks their first week? | 14 | 10h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Based on the most helpful WSO content, corporate coverage teams typically fall under the umbrella of corporate banking. They are primarily responsible for managing relationships with corporate clients and coordinating the delivery of the bank's broad product offerings.
As for exit opportunities, they can be quite broad and largely depend on your networking skills and the relationships you build. Common exits for corporate banking roles include:
In terms of deal flow and team culture, that can vary significantly from bank to bank and even team to team within the same bank. It would be best to connect with current or former employees of the BNP Paribas Corporate Coverage team for the most accurate insights.
Remember, the key to making the most of your role and setting yourself up for future opportunities is to develop strong working relationships with the groups you work with and consistently deliver high-quality work. Keep swinging from branch to branch, and you'll reach the top of the tree in no time!
Sources: 2017 Commercial/Corporate Banking Bonuses, What is corporate banking?, An Overview of Corporate Banking, BB Corporate Banking Exit Opps?
Did a 6 Months internship at BNPP in Europe (not france) corporate coverage so can give some insight.
BNPP's corporate coverage (CC) team is their corporate banking team they do classic corporate banking products (Vanilla Credit, cash management, hedging instruments etc.) additionally to those they sit on the client relationship and it is BNPP standard to have a CC representative and a product representative (Cash management, M&A, DCM, etc.). Corporate bankers at BNP are the single-point-of-contact for clients. This means that as a corporate coverage associate/intern you will be on a variety of projects that can include everything the bank does on the corporate side. Personally got to work on projects together with the M&A team and DCM team. However, except for vanilla credit lines, CC does not have technical expertise in the individual products they sell and represent. As of 2 years Corporate coverage and credit analysis got consolidated into a single division so now corporate coverage also does credit analysis, which can open up some exits as you do a lot of credit work.
In-terms of exit opps, during my time there I got to know some people who exited to credit funds in Europe or joined some company they covered while at BNP.
Deal-Flow depends heavily on what office you are at. If you are at a smaller regional office you might have little deal flow, but due to the nature of the business you will always have something to do either updating annual reports of your clients or doing KYC and due dilligence work. If you are at a larger office and cover strategic clients or a solid region, you will have alot to do including creating credit memos for the Credit committee. One thing I will say is that many decisions need approval from Paris and that can make processes drag on for quite a bit.
Team culture also heavily depends on office, personally I was very happy with the team, but as BNPP is such a big company you cannot generalise their culture.
Hope this helps
Thanks so much for the detailed response! Super insightful! How feasible do you think it would be to move from corporate coverage team to IB either internally or externally? Would you say that this would be a difficult transition or would you say it's a relatively seamless transition?
Personally managed to lateral to IB for an internship, but I largely attribute this to the fact that I worked with them for 3 months on an M&A transaction from the coverage side. That allowed me to network really effectively and they knew that I had a real interest in it. There are multiple precedents at BNPP that someone moves from CC to ECM/DCM/LevFin/M&A, here DCM and LevFin are the most common due to the nature of the work being debt related.
I also applied to other banks and got some looks that I did not get beforehand due to the BNPP brand and the M&A transaction I was able to work on during my time there.
Generally speaking, your ability to lateral will largely depend on your ability to network within the bank and the projects/deals that you work on, but its definitely not unheard of.
Eligendi ratione consequatur blanditiis ducimus qui ea voluptatem. Eum voluptatem placeat soluta et fuga at sint. Debitis fugit et sunt voluptatibus illo. Molestiae et similique facilis enim ad suscipit aut. Sunt soluta animi et aut et. Quasi dignissimos ut nisi numquam.
Neque officia ut totam error dolorum omnis. Non at voluptatum ut excepturi. Dolorem magni officiis labore qui sequi molestiae assumenda. Natus est et nobis et inventore dolores eius.
Voluptatum qui natus quod non et officia non dolorum. Fugiat ad et atque optio aut accusamus. Suscipit nesciunt numquam dolores optio nisi. At non praesentium quod qui nobis ex.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...