Equity-Linked (Converts) Exit Ops
I sit on a convertible bond origination desk within ECM at a BB bank. We are a good but not elite converts desk, and try to compete with the top players (JP, GS, BofA), but I would say that we are a tier below that.
I have been here for a few years, am a mid level associate, and I truly have learned a lot, though I reflect on my time and I feel like I am not sure where to go after this position. I don’t want to do converts forever. I’m not sure what a good exit op is for converts bankers? Lateral to coverage would be something that I am contemplating, but it looks to be highly challenging right now to do even in an internal fashion. Other than that type of transition, I am not sure what I have learned or know to go “into” after this stint.
I wonder: where have you, if you are a former convert banker, done after this role? Or, where have you seen convert bankers go?
Convert S&T?
Sounds like an option. However, I am not sure I want to do converts forever so I am curious what else could make sense.
Plenty of HFs trade converts where you can move to a convert arb desk. Or move to the strategic / derivatives desk to do collars, call spread overlays, margin loans etc
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