Does anyone have any insight on what Citi's Commercial Bank does? From what I can see it is essentially corporate banking but for mid size companies i.e. lending and providing other banking services. I would appreciate if anyone knows about what the day to day looks like as an analyst, comp, WLB and general progression/exit opportunities internally and externally.
*London in particular but keen to hear about US/Asia as well
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Corporate Bankers will be the point of touch for big corporates and will be able to liase with the investment bankers and product bankers/capital markets teams depending on a client's needs. Product offering is wider. As far as I know, CCB's biggest product offering are loans/credit. At Citi they also do cash management and execute some TTS functions. It's not an uninteresting place to be in from what I've heard. Some people may be snooty against you because it's not IB, but you're still dealing with corporates (albeit smaller ones), and to be honest, Citi is a full-service bank, the commercial bank is every bit as important as any other part of the bank.
Exits? Well, specifically at Citi you can get into CB, IB, TTS ... Loads of opportunities, internal mobility isn't hard. I know someone who went CCB -> IB after their internship. No idea on comp, couldn't find anything on glassdoor.
One of the interns I knew in CCB just did cash management during their internship. So maybe as an analyst you'd be on a specific function? Don't know though, I wasn't in CCB.
Cheers thank you for your insight. I'm the same couldn't find anything anywhere on comp but is it a safe assumption to say salaries will be similar to IB at entry level with far less bonus? Or will even the salary be at a discount to IB, fully aware total comp in CB vs IB will be lower just trying to gauge how they do it
Well, CB and IB have the same base. I looked at a JPM analyst CCB salary on Glassdoor and they get paid some 60-70k, so it'd be similar at Citi.
Edit: sorry nvm, that was for an associate apparently. Maybe expect some discount but not massive, you wouldn't be paid 30k or something haha
Make sure you are distinguishing between Commercial Banking (CCB) and Corporate Banking (CB). CB sits with the IB guys on the floor and are within BCMA (make same base too). As far as I'm aware, CCB is not a part of BCMA and base is therefore not the same. I could be mistaken though.
The work CCB does is largely the same as CB (revolvers, etc.) just on a smaller scale, and the products that are on offer are not usually as sophisticated as for CB clients. As I said before, CB work a lot with the IB guys, can't say the same for CCB.
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