Esoteric ABS Securitization Groups: Do they even take analysts?
I've been researching esoteric ABS origination and securitization groups at BBs--I'm very interested in structured finance and it looks like an amazing subsector with a lot of opportunity, especially compared to the relatively staid world of RMBS/CMBS. That said, I can't figure out if these sorts of groups would take an undergrad analyst or not, given the complexity of their work and the unique nature of the underlying assets. Anyone know?
yes, they do
Thank you! Would you know what exit opps look like from an esoteric group? I'd guess HFs/other originations groups, but this is such a weird subfield with no WSO content that I have 0 idea if that's even accurate.
if you're a structurer you will generally stay within that field on the sell side. some structurers have moved to banking roles, but they have different personalities and don't necessarily want to be bankers
i've seen bankers move to hedge funds on the investing side or deal origination (get to issuers before bankers and do a private deal , etc.). some senior bankers will go into capital markets roles at funds as well.
Guggenheim's structured products is pretty dece
It's a great field if you're a good bond trader and can pick it up quickly. As much as the news would like you to think banks have shut down structured product trading, it's still a major driver of their fixed income books albeit with a lot less risk than '08. Common compliant is always that the skills aren't easy to transfer into other areas. There's certainly HF's and alternative asset managers that specialize in this, but it's not the easiest to get out of once you're in it for a while.
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