What is actually the difference between Citi's capital markets origination and regular debt capital market departments at other investment banks? are they just the same?
Citi Capital Markets Origination vs. Debt Capital Markets
Citi Capital Markets is a hybrid between sales and trading and investment banking. The CMO team provides advice across the capital structure to corporate clients.
Debt capital markets deals with the issuance of debt for high quality corporate borrowers. Our users share their thoughts below.
User @Sandhurst", an investment banking analyst, shared a great description of the group:
Sandhurst - Investment Banking AnalystCiti's Capital Markets Origination division is comprised of over 20 different groups, many of which are hybrids between Investment Banking and Sales & Trading. This unique mix of groups drives the fixed income and equities markets by providing products and liquidity for our clients. Typical responsibilities of Capital Markets Origination include managing overall fixed income and equity relationships as well as dialogue with corporate clients; originating, marketing, structuring and executing fixed income and equity transactions; and demonstrating ways to limit interest rate and credit risk through the use of derivatives.Desks include:
Asset Based Finance, Derivatives Solutions, Equity Capital Markets, Financial Institutions Fixed Income Capital Markets, Global New Products, Global Loans, Capital Markets, Global Securitized Products, Global Structured Solutions, Industrial Fixed Income Capital Markets, Leveraged Finance, Liability Management, Latin America Credit Markets, Money Markets Origination, and Structured Credit Products.
From a work environment standpoint, CMO employees work on a trading floor instead of a banking floor.
You can see Citi's description of the division below.
Source: http://www.citigroup.com/citi/about/institutional_business.html
You can read more about Citigroup on the WSO Company Database.
Read More About Capital Markets on WSO
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- Equity Capital Markets Interview
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They work on a trading floor instead of a banking floor.
From a friend who was an S+T intern at Citi: (on CMO) "It's not the same as S&T we work with CMO to distribute offerings but CMO is separate, it's essentially DCM ECM"
It is what it sounds like it is:
"Citi's Capital Markets Origination division is comprised of over 20 different groups, many of which are hybrids between Investment Banking and Sales & Trading. This unique mix of groups drives the fixed income and equities markets by providing products and liquidity for our clients. Typical responsibilities of Capital Markets Origination includes managing overall fixed income and equity relationships as well as dialogue with corporate clients; originating, marketing, structuring and executing fixed income and equity transactions; and demonstrating ways to limit interest rate and credit risk through the use of derivatives."
Desks include:
"Asset Based Finance, Derivatives Solutions, Equity Capital Markets, Financial Institutions Fixed Income Capital Markets, Global New Products, Global Loans, Capital Markets, Global Securitized Products, Global Structured Solutions, Industrial Fixed Income Capital Markets, Leveraged Finance, Liability Management, Latin America Credit Markets, Money Markets Origination, and Structured Credit Products."
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