Starting my career in Securitized Product Banking - Uncertain about the future

Hey everyone,

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!

1 Comments
 

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