Some one earlier shared their insight on how a deal worked with Apollo. He was a Lev fin banker.
Previously, I had read on here that the Lev Fin reports up to the head pf credit risk? is this true at most banks ?
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When you work in LevFin (or any debt-facing IB group), a lot of the work you do is for credit risk. They are essentially your “investment committee”. Any deal that has the potential to leave capital on the bank’s balance sheet - not just loans but also underwritten bonds / syndicated loans - has to get approved by risk because even if the deal goes to shit, the bank has committed to take that debt on (“invest” in it, if you will). Half your job is structuring the debt for your client, then the other half is convincing credit risk it won’t blow up your bank.
A credit memo is the main document relevant for the risk “investment committee”, and these are long - sometimes 100+ page - presentations that can go fairly deep into the client, their operations, their relationship with the bank, valuation, markets stuff, investor appetite, etc etc. LevFin usually holds the pen on this, with heavy input from coverage / corporate banking expected.