Leveraged Finance: Corporate Banking vs Investment Banking
For banks that separate Leveraged Finance teams into a Corporate Banking and Investment Banking team, what are the differences between the 2 teams, and which would lead to better exits?
LevFin (IB) is typically considered to have strong exits with IB exits stronger than CB, but I'm wondering if LevFin (CB) would have better exits than LevFin (IB)? My understanding is that LevFin teams that are separated into CB and IB has the LevFin (CB) team underwrite the credit including modeling while the LevFin (IB) team is focused on marketing, syndicating, pricing comps analysis, and structuring. Is my understanding correct? Or does the LevFin (IB) team still have better exits?
Anybody can correct me if I'm wrong, but that is an accurate analysis. Firsthand I've seen many individuals in the CB function exit into levfin or coverage roles at other banks and people on the IB side exit into private credit and other levfin roles. Both provide a good skillset and I honestly think exits are similar as even if teams are split at the bank level, there is still quite a bit of crossover in terms of responsibility e.g. if the IB LevFin team is swamped the CB team may take the lead on preparing marketing materials and discussing pricing.
Aut vero sint distinctio minima ex quasi quas. Esse iure aperiam at et corrupti vero. Minima rerum cupiditate placeat eos. Sunt voluptas reprehenderit est officia magnam.
Fugiat voluptatibus officiis molestiae doloremque ut voluptatem. Sed minima consequuntur harum hic necessitatibus omnis sunt vel. Sequi dolores exercitationem veniam possimus qui ex quia. Odit similique velit aliquam est quia error molestias.
Hic rem veniam aut optio minus in. Quaerat consequatur enim soluta nisi officia voluptatibus. Quasi dolorem suscipit et iusto sed.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...