LevFin vs Coverage for BB

I'm personally leaning LevFin due to an interest in the credit side, as well as not being passionate about one specific industry. I want to make sure I'm not pigeonholing myself too early in my career.

Which would you choose at a BB for a new Analyst and why?

6 Comments
 

Depends on the bank. DB LevFin is probably their strongest group for exits, and does really well in credit exits and leauge tables. Their coverage and M&A franchises are really nothing special at least in the US, whilst their LevFin group is good (~top 10 in the US).I don't think they have had good coverage groups for a while tbh.

UBS has an elite US LevFin franchise, and that's probably their strongest group. Back in the day when I was doing SA recruiting, their strongest group was Tech, but based on the recent threads; I would think it's now LevFin, which was previously their second best group. If at UBS, would check that with people during group placement. Outside of those two banks; coverage is materially going to give you better exits than LevFin. 

 

They probably mean citi/barc/bofa if mid bb, all of which have pretty strong levfin franchises. For a new analyst bofa levfin has the best experience and learning of the 3, while citi and barc lean more on sponsors to fill that role.
Pretty broad to say "coverage" as if these banks dont have good and bad coverage groups imo

 

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