Thoughts on Citi LevFin
What are your thoughts on Citi Leveraged Finance in London? Do they do any modelling or is it rather capital markets/execution focused?
Thank you!
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Based on the most helpful WSO content, Citi's Leveraged Finance (LevFin) team in London is generally well-regarded. However, the nature of the work in LevFin can vary significantly depending on the bank and region. At Citi, the LevFin team is known to have a strong focus on capital markets and execution, which means they are heavily involved in structuring and syndicating debt for leveraged buyouts (LBOs) and other transactions.
While some modeling is involved, it may not be as granular or hands-on as in other groups like M&A. The emphasis tends to be more on understanding credit, documentation, and structuring rather than running detailed financial models daily. That said, you will likely gain exposure to LBO and cash flow modeling, even if you're not the one building the models from scratch.
For those aiming to develop robust modeling skills, supplementing your experience with self-study or training (e.g., LBO modeling courses) could be beneficial. If you're looking for a role that combines both modeling and execution, you might want to explore other groups or ensure you clarify the specific responsibilities during interviews.
Sources: Seeking advice on Corporate Banking modeling, Leveraged Finance – 2017 Update, LevFin in London, Leveraged Finance – 2017 Update, MS ER vs Citi Markets SA - London
Process team
Solid
Hmm process team doesn't sound good...
Bump..also interested
good but sweaty
OP here, thank you for the responses, process team doesn't quite align with sweaty though, does it?
I've seen juniors there working on models and stuff too. It's not just an execution team.
Levfin at Citi used to be split into levfin capital markets and GAM, who used to do the model. But they combined them so now it's like a usual levfin team. hence, sweaty.
Ok got it, thank you very much!
Does this apply to US or just London? This is after the restructuring recently right?
interned with the london team in 22 and it was purely process driven, no modelling at all. At the time the Financial Sponsors Group held the pen on the model. Not sure if there’s been a restructuring and if so, how it’s affected the team. They have good exits though, saw people going to Permira and Oaktree.
Bump, any insights on their US levfin team?
bump on us levfin team
Used to work there, it is sweatier compared to other capital markets groups but not bad. As an analyst you get very little (basically no) modeling experience, technical work is mostly pulling comps and trading comparable, and putting together pitches on Term Loan B / Term Loan A proposals for LBO's / sub-IG issuers. Good knowledge and experience to learn for PE oriented role, but likely wont have good skills for modeling tests - but you can always use a modeling course
What are hours like? (for interns/analysts)
I would say it’s probably like this :
normal / easy week
Monday - Thursday: 9-9pm
Friday: 9-5:30pm
Sunday: 2-5 hours of work
Bad week:
Same as normal IB -
Monday - thursday: 9-1am
Friday: 9-8pm
Saturday some of day
Sunday all day
Very helpful, thank you!
Does this apply to US or UK
Both
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