Lateral to RX from Niche Coverage
Anyone here have experience interviewing lateral hires to RX from other coverage groups? What type of experience do you typically look for and how flexible are you?
Im in IB but in the REGAL coverage group. I’ve worked on a number of credit deals, but it’s always real estate credit. Would an RX group be open to someone of that background? Or would they strictly be focused on people with LevFin / DCM / O&G experience?
I’ve sent out a few apps, have read through Moyer and Houlihan Lokey’s case study (had prior interest in RX), but there’s no actual RX experience on my resume. How can I make myself more competitive for RX jobs during times like this?
Bump interested as well.
Bump, know there’s some RX guys who can help out
Yes, I've seen many people from non-credit related backgrounds end up in Restructuring. Just show you understand capital structure well and explain why you are interested in restructuring long-term.
They're hiring you for your experience as an investment banking analyst, not for your sector expertise. You're not going to get an edge up for being in C&R or something. Plenty of people have lateraled into Rx from a variety of product groups. Maybe being in levfin helps but from what I've seen, your current group only matters if you're going from Rx to Rx. DCM is IG and the majority of Rx firms have energy teams to help with O&G (EVR, PWP/TPH, LAZ, Moelis, even Jefferies, etc.).
Also, REGAL is not that niche lol. Not sure what your firm splits into real estate but in terms of Rx relevance, think about all the Healthcare and Retail REITs out there.
Thanks - I say REGAL is niche because similar to FIG and energy our models are pretty unique compared to one of the standard coverage groups
I know this is a bit off-topic, but would you mind commenting on your experience thus far in REGAL? Also, which banks are the best in the REGAL space? I'm interested in getting into REGAL, but since it is very niche I am a bit considered about my exit opportunities. Any feedback would greatly be appreciated.
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