Starting my career in securitized product banking - uncertain about future
I interned at a BB last summer and received a return offer to join their securitized products group in investment banking. I’m trying to think more long-term about career trajectory, and would really appreciate any perspectives here.
A few things I’ve been thinking about:
1. Exit opportunities from securitized products IB
I know the skillset is pretty different from traditional coverage/M&A. For people who started in SPO, how are exits generally viewed? Is it mostly structured credit / ABL / private credit type roles? How limiting is it if I later want to pivot to broader credit investing roles like direct lending, opportunistic credit, etc?
2. Lateral opportunities (M&A / Coverage Banking)
I’m also thinking about whether I should try to recruit for coverage or M&A roles given the more “traditional” PE path.
From doing case studies in school, I do feel like I’m more interested in the investing mindset that PE has. But given I already have a return offer in securitized products, I’m not sure how much flexibility I realistically have to pivot. Is it still possible to recruit for coverage or M&A roles within 1 year after graduating?Has anyone seen people lateral from a structured products / securitized products group into coverage or M&A early on? How difficult is that transition in practice?
3. Lateral opportunities (LevFin / RX / distressed)
I’ve gotten pretty interested in distressed / special situations credit. Is it realistic to lateral from securitized products into LevFin or RX after 1–2 years? Has anyone seen this done successfully?
4. Buyside + Asia (HK / Singapore)
Longer-term, I’m interested in potentially moving to Hong Kong or Singapore. I know securitized products aren’t as big there. Currently, I still want to do PE or distressed credit related investment. What kind of buyside roles would value an SPO background in those markets? Is private credit / structured credit still the main path, or are there other angles? Given my current background, what are some best things I should do to eventually to get in PE or distressed investing.
Would really appreciate any thoughts—especially from people who started in structured products or made similar transitions. Thanks in advance!
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