Incoming at SMBC in Corporate & Investment Banking. Curious to hear what their best groups are in terms of deal flow, culture, hours, exit opps, etc. Any insights on their Tech and Industrials group in particular would be much appreciated!
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SMBC CIB is all corporate banking, so deal flow are all relatively similar with shelling out term loans/RCF/treasury products. Advisory mandates are all outsourced to Jeffries. People tend to stay forever, limited exits.
Not true I’ve seen decent exits into IB either for FT or lateraling 6-8 months into UMM and lower BB IB
Most are on the LevFin/CM side. The above comment is pretty accurate in terms of coverage function. You aren’t touching the equity side of the cap structure for company—purely credit. Most of your day-to-day work is spent being an RM and trying to originate business for the various product partners such as trade finance, ABF, DCM, HYCM, and LevFin. You will run returns analysis frequently to project out returns for a certain company that your group is wants to add to their lending portfolio to see if the ancillary business would be worth joining the bank group during the RCF refi.
People exit to IB but these people typically are getting these lateral seats despite being CIB at Sumitomo not because of it. If you have SMBC CIB coverage as your experience, interviewers are going to assume CB experience because that’s what it is. There’s rarely an instance where you are doing any type of valuation.
All things considered, chill bank though and people are amazing.
Source is my friend who I lived with worked there
Great write up thank you so much, first proper explanation I’ve found on this website. Seems like culture/hours:pay ratio is quite good as well from what I’ve heard. If coming from a semi-target/target, do you think still think it’s feasible to recruit for IB FT? I understand interviewers will see it as just being CB, but is the jump from CB to IB doable?
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