LevFin Lateral - thoughts?
Currently on a Corporate Banking Seat in London as an A2, in one of the balance sheet banks, not a BB though. Think in the like of (Santander, NatWest, StanChart, etc);
Started out in Credit with a broad sector coverage, and covered a large range of products through rotations: lbo, syndicated loans, direct lending, bonds, etc.
Realised, moving forward I would much prefer a more stimulating or challenging role as both have been fairly easy to do and do not require a lot of mental fortitude. Therefore, would like to position myself towards a LevFin seat in an IB. I have quite a good list of friends / connections in BB's that are happy to refer or assist me in anyway.
Based on the above experience, would that be a viable possibility or do I not yet have the required skillset / experience? I would like a role focused on more modeling and larger scale, more in-depth deals.
Any feedback is appreciated.
Thanks.
Based on the most helpful WSO content, transitioning from a Corporate Banking seat to a LevFin role in IB is possible, but there are a few key considerations to address:
Skillset Alignment: While your experience in credit and exposure to products like LBOs, syndicated loans, and bonds is valuable, LevFin roles in IB typically require strong financial modeling skills. If your current role hasn't provided extensive modeling experience, you may need to upskill in areas like LBO modeling, cash flow modeling, and credit analysis. Self-study or taking courses on these topics could help bridge the gap.
Deal Experience: LevFin roles often involve working on larger, more complex deals. Highlight any relevant deal experience you've had, especially if it involved structuring or analyzing leveraged loans or direct lending transactions. If your current exposure is more process-driven, focus on how you've contributed to deal execution or analysis.
Networking: Your connections in BBs are a significant advantage. Leverage these relationships to get referrals and insights into the specific requirements of LevFin teams. Tailor your pitch to emphasize your transferable skills and willingness to learn.
Positioning: Emphasize your desire for a more challenging role and your interest in modeling-intensive work. Highlight your understanding of credit, documentation, and structuring, as these are critical in LevFin. If possible, gain exposure to modeling through side projects or internal opportunities before making the move.
Targeting the Right Teams: Some LevFin teams may value your credit background more than others, particularly those focused on direct lending or private credit. Research the specific focus of the teams you're targeting and align your narrative accordingly.
In summary, while you may not yet have the full modeling experience typically expected in LevFin, your background in credit and exposure to various products can make you a viable candidate. Focus on upskilling in modeling, leveraging your network, and positioning your experience effectively to make the transition.
Sources: Why corporate banking instead of investment banking?, Leveraged Finance – 2017 Update, Stuck in Corporate Banking - Fighting Complacency, Corporate Banking?, LevFin in London
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