Anyone has any insight on the S&E team at Scotia? Culture/bonus? Are they considered bankers or MO/support?? Exit opps within firm and outside. Role any different from compared to other product/business lines at other corporate banks? Thanks in advance for any insight.
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Quite familiar with structuring and execution - essentially CB at Scotia in the US is broken into 1) origination and 2) structuring & execution, with the latter being where majority of analysts enter in. Can’t speak much to origination but will try my best to talk about S&E. The S&E teams within each industry group are the ones working on pitches, building internal credit memos, marketing materials, deal execution, etc. As a result, it is front office experience similar to the experiences you would get at any other CB division. Not too sure about culture but they are not working similar hours to CB groups at Citi/Bofa/JPM. Comp is going to be lower than the BBs and I believe base salaries are public - 95/135/185 for AN/ASO/VP. No idea on bonus but definitely less than BBs, likely more similar to the other Canadian banks. Haven’t payed attention to exit opps in the US, but have seen juniors in the Toronto office move to IB, CB at other banks, Private Credit and Secondaries. Hope this helps.
Very helpful!!! So the origination side is more of a typical coverage role compared to other BB? Would they still be consider “bankers”? At my current bank, only coverage guys get called bankers only but I thought there were product bankers and coverage bankers so curious to know if this S&E are still considered “bankers”.
I work at Scotia - S&E is more of a middle office role. BofA has a similar function called “Enterprise Credit” which is not directly client facing and you just handle credit memos, monitoring, and scorecards all day long.
What are some common exits from the CB S&E team?
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