Lateral from Corporate/Commercial Banking
I've interned doing data science (Y1) and then credit risk SA (Y2) for auto-finance company on their $600M loan portfolio, along with having exposure to their securitization process talking to commercial banks and corporate bank syndicates. Looking to do commercial banking or corporate banking for junior year SA. What companies should I apply to / look out for to do Comm/Corp Banking SA which have the best chance to lateral to IB or more traditional LevFin? I've interviewed with Bank of America, Wells Fargo, BMO, RBC, BNP Paribas already.
Based on the most helpful WSO content, here’s what you need to know:
For a junior year summer analyst (SA) role in commercial or corporate banking with the goal of lateraling to investment banking (IB) or leveraged finance (LevFin), targeting the right companies is crucial. Here are some recommendations:
Top Corporate Banks to Target
JPMorgan Chase, Bank of America, Citi, and Wells Fargo
These are the top players in corporate banking, with strong balance sheets and significant exposure to syndicated loans and capital markets. They also have established pathways for lateraling into IB or LevFin roles.
BMO, RBC, and BNP Paribas
These banks are solid options, especially for corporate banking roles. They have a strong presence in credit underwriting and loan syndications, which are transferable skills for IB or LevFin.
Regional and National Players
Consider banks like U.S. Bank, PNC, and Truist. While they may not have the same global reach, they offer robust corporate banking programs and can provide a stepping stone to IB.
Why These Banks?
Tips for Maximizing Your Chances
Next Steps
This approach will position you well for a corporate banking SA role and increase your chances of lateraling to IB or LevFin.
Sources: Why corporate banking instead of investment banking?, S&T Summer Analyst Lateral to IB FT?, Tips for incoming summer analyst in Corporate Banking?, Why corporate banking instead of investment banking?, An Overview of Corporate Banking
If you are open to MM, I know Truist has a Corporate and LevFin type group/Credit Group, most of those people end up lateraling and end up LevFin/PC/Syndications.
Looking at LinkedIn it also requires Series exams, might be a good shout for what you want to do? SMBC could be another bank you target for LevFin SA positions
Neither have open SA positions at the moment but I'll be on the lookout. Do you know the timeline for those by chance?
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