Citi- Lev Fin Thoughts ?
Hey everyone,
wanted to know how Citi Lev Fin is in terms of ranking on the street, exit ops, culture etc. any insight would be appreciated thanks.
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Under Capital Markets Origination (CMO). Lean team (~40 total), take like 5-7 SAs out of the 40-45 CMO SA pool. Doesn’t model. Pretty standard culture, ie people get along pretty well but nothing to write home about, worst hours on their side of the CMO floor but not that terrible (8-11 seems pretty average), interns + analysts have protected Saturdays (standard at Citi) but often come in on Sundays to do market updates / LevFin Weekly blasts. Deal flow is alright, both Acquisition Financing and HY Issues. Does lag behind JPM / BAML / CS. Exits well to credit funds (incl MF Credit like BX GSO) with the occasional MM PE exit too.
Out of interest, do Banking / Coverage teams run the model and internal credit processes for Lev Fin deals at Citi? Where does Credit come in? So Lev Fin @ CMO is more of a syndicate function (vs origination and execution).
What do you mean by Credit? Citi has a Corporate Banking division under CIB which does help a lot with the internal credit processes. I'm not 100% sure on how the work is divided for them, but coverage / M&A will definitely be running the model for any LBO. Not sure where LevFin comes in during origination / execution. Sorry I can't be more helpful.
Apologies - I meant the Credit Risk team that sits within CIB. As I understand underwriting work has to be approved by credit whenever there's a balance sheet commitment, so wondering how a transaction / credit memo would then be split up for leveraged deals at Citi.
For instance, my banks runs with Lev Fin Origination running the model and most parts of the credit memo, Coverage filling in industry bits, Syndicate providing market flavour and syndication strategy and credit risk doing further DD and verifying the credit memo
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