Debt advisory?

Based on previous WSO threads, transitioning from a debt advisory role within the CIB division of a large bank to private credit is indeed possible. Here are some insights:

1. Skill Transferability:

   • Due Diligence and Modeling: Experience in debt advisory often involves due diligence and financial modeling, which are highly relevant to private credit roles.
   • Credit Analysis: Your ability to assess credit risk and structure deals will be valuable in private credit.

2. Intermediate Steps:

   • Lateral Moves: Consider lateralling to a role in IB Lev Fin (Leveraged Finance) as an intermediate step. This can provide more direct exposure to the types of transactions and skills needed in private credit.
   • Credit Risk Roles: Moving into an IB Credit Risk role at a BB (Bulge Bracket) bank can also be a strategic step. This role typically involves reviewing and approving credit papers, which can be a good foundation for a move to private credit.

3. Networking and Mentorship:

   • Mentorship: Seek out mentors who are invested in your career and can provide guidance on making the transition.
   • Networking: Leverage your network to connect with professionals in the private credit space. This can provide insights and potential job opportunities.

4. Career Path Examples:

   • Corporate Banking to CIB to Distressed Funds: There are examples of professionals moving from corporate banking to CIB roles and then into distressed funds, which is a related area within private credit.

5. Resources and Preparation:

   • WSO Bootcamps: Consider attending relevant bootcamps such as the Private Equity Interview 1-Day Bootcamp or the Financial Modeling & Valuation 2-Day Bootcamp to enhance your skills and knowledge.

By strategically planning your career moves and leveraging your existing skills and network, transitioning from a debt advisory role to private credit is a feasible and achievable goal.

Sources: CIB Credit Risk J.P. Morgan, Private Wealth Management/Private Banking Guide for Associates, IB Credit Risk to Buyside Debt, Private Credit or CB, Corporate Banking?