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CS is unique in that they break down their Leveraged Finance business into 3 groups:

  • Financial Sponsors Group (FSG)
  • Leveraged Finance Origination (LFO)
  • Transaction Execution Group (TEG)

FSG does all the sponsors-related LevFin deals, LFO does all the corporates-related LevFin deals, and TEG executes all the deals that FSG and LFO originates (like they deal with negotiating the commitment papers stuff)

All 3 groups have front-office base pay, but I know FSG / LFO get paid a much higher bonus. The TEG folks seemed to work lighter hours though (relatively speaking).

Tbh my interaction with them was that they're basically glorified lawyers. They deal with all the legal docs, KYC, closing process etc - that kind of stuff. They also deal with getting approval for RCF holds (i.e. Corporate Bank?)

Source: I worked at CS

 

Thanks for the breakdown; not much on this position elsewhere. Would this be a good way to break into IB, or is there not much mobility from this type of work?

 

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