Reading im, cdd, fdd

Based on the most helpful WSO content, it's clear that the responsibilities of analysts can vary significantly depending on the region and the specific bank. However, there are some commonalities in the tasks that analysts handle, especially in the context of private equity (PE) buyside deals.

Common Responsibilities for Analysts in IB (US and Asia):

1. Reading IM (Information Memorandum):

   • Analysts are often tasked with thoroughly reviewing the Information Memorandum to understand the target company’s business, financials, and market position.

2. CDD (Commercial Due Diligence):

   • Conducting commercial due diligence is a critical part of the process. This involves analyzing the market, competitive landscape, and the target company's business model.

3. FDD (Financial Due Diligence):

   • Financial due diligence is another key responsibility. Analysts review financial statements, assess financial health, and identify any potential red flags.

4. Contributing Diligence Questions:

   • Analysts are expected to contribute to the list of diligence questions that will be posed to the target company. This ensures that all potential risks and opportunities are thoroughly explored.

Insights from WSO:

• Exposure to IB and Resources:

  • The accessibility of information and resources on platforms like WSO has made it easier for individuals to understand and prepare for roles in IB, including the responsibilities mentioned above.
  • The competitive nature of the industry means that analysts are often well-prepared and knowledgeable about their tasks, even if specific responsibilities like reading IM, CDD, and FDD are not frequently discussed in detail on forums.

• Career Path and Expectations:

  • While the target school -> BB / EB / Top MM IB -> PE route is considered optimal and typical, many professionals in higher ranks have diverse backgrounds and experiences.
  • The industry values opportunistic and talented individuals who strive towards their goals, regardless of whether they followed the traditional path.

In summary, the tasks you mentioned are indeed common in IB roles, both in the US and Asia. The detailed discussions on WSO might not always cover these specific responsibilities, but they are integral to the role of an analyst in PE buyside deals.

Sources: Young People of WSO: What is with this fascination towards IB?, What Are The Most Common Fallacies You See Perpetuated by Junior Level IB Analysts on WSO?, Young People of WSO: What is with this fascination towards IB?, How are so many schools improving their IB placement?, How Quickly do you think IB interest is growing?