Credit Suisse: Transaction Execution Group?
Any insight? What is this group? Is this basically corporate banking?
Is base comp in line with IB?
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Yes and yes (at least at the junior level)
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How are the hours? A recruiter reached out to me about this one, seems like they’re desperate to fill positions.
Not as bad as a sweaty IB group but not super chill. Definitely one of the CB banking groups closer to IB. I think it was also worse recently because there was such high turnover meaning they were understaffed. I would guess around 70-80 for an AN1 and, if I had to guess, maybe 55-65 for VP1
CS is unique in that they break down their Leveraged Finance business into 3 groups:
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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