Restructuring Banking in Canada?
Hey, so I honestly only know one person whose gone on to do Rx banking from my uni, but that was in the states at an EB (LAZ, EVR, PJT, etc). My understanding is that Rx is mainly just at these EBs, but are there any Rx groups in Toronto? Or are the small EB offices here purely M&A or Capital markets roles?
On another note, does anyone know if firms like Alvarez and Marsal or FTI have Toronto Rx consulting groups? My bad if my questions are dumb LOL, there's just very limited info about Toronto Rx opps.
Do you go to Western/Ivey by any chance? I think this has gained more interest recently. I’d recommend talking to students you know who have worked in Rx to learn more.
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Of the few recent Canadian bankruptcies I can remember (Cirque du Soleil and David's TEA come to mind), the advisors have always been the US team. Most of the creditors are either sophisticated US investors, or the Canadian pension funds (who interact with the US RX teams). Chapter 15 is almost always concurrently filed in the US - few Canadian bankruptcies I think are truly domestic.
Thanks! I feel like for someone interested in a restructuring style skillset and staying in Canada, LevFin might be the best option? I don't think the banks here have a major platform for that (I think RBC's LevFin team is based out of the US), but I do know at least one pension fund has a Toronto based LevFin team (OMERS Capital Markets)
LevFin and RX are very different, especially if you're doing LevFin at a BB. Most of your work will revolve around debt capital raises, of which some will include leveraged loans (i.e. high yield stuff that RX bankers look at). RX is a different beast given that you will be working on all sorts of transactions that are not necessarily just debt raises. I would advise you to look at boutiques in the US, hoping that they will either sponsor you, or can accept the TN visa.
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