Could someone tell me the difference between Corporate and IB coverage? For example, I received an offer for FIG coverage at Wells Fargo, is that IB or Corporate? It's under the CIB umbrella so am unsure what the difference between the two is.
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Corporate = Only covering the credit needs of your client. In most cases, this is just term loans & revolvers. Corporate banking (or DCM, LevFin) often goes hand in hand with M&A as some kind of debt is usually used.
IB = Providing strategic advice to clients, pitching them ideas on M&A. You are also the liaison between the client and all other product groups (CB, ECM, DCM, etc.) so essentially oversee all dialogue that C-Suite executives would be having with the bank.
You can easily find more answers like this by googling.
citi bank does the whole "corporate banking" and people list it as IB but they're the only ones who do this weird ass shit lmao, friend described the job and it's essentially the same thing (kinda)
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