Debt Advisory LDN EB

Typical tasks for me are modelling, lender calls, client calls, CIM writing, DD review etc. At least in my experience the divergence from a lending role suddenly kicks in at director+ (in advisory, you become a salesperson)

Detailed credit analysis is still needed to a) figure out what types of financing could viably be raised, and how suitable it is for the business, and b) marketing materials / pre-empt lender diligence

Downsides are that because all you can offer is fast advice rather than capital, you are either given a (short-fuse) timeline or just working hard to deliver client value.

Managing outreach, diligence etc with a large group of potential lenders can be a bit arduous. This is rare though, as a targeted market approach is part of the expertise paid for - not heard of the EB’s doing this, but if you hear that it’s probably a signal to avoid (search up Marlborough Partners)

Generally speaking, I don’t think it’s a dead end role at all. A good team will be doing work that’s interesting, so reassess regularly and move if not the case

Be prepared to work hard, but you should always be learning something new not just paper pushing on a lot of ‘spray and pray’ outreach approaches. Again, recognise and avoid asap (unlikely at an EB)

It’s a good place to learn about psychology / optics too. The MD’s are quite different to those who seem to be successful on the lending side.

I’d recommend aiming to work on sponsored / stressed deals rather than corporate (refinancing an RCF for 25bps cheaper isn’t so interesting). Exception is Rothschild who have a very strong corporate team.