I was hoping someone could explain exactly what CMTS and what it does. I read the DB website and it seems like it does a number of things, including structuring, origination, treasury solutions (please elaborate on this as well) and a lot of client relationship management. Is CMTS part of banking or a separate entity? Online it comes under the Markets tab and the CM in CMTS is for capital markets. But it's still unclear to me - since they do structure and originate high-yield debt, sovereign debt and other esoteric securities such as ILS (cat bonds, sidecars etc.).
So I guess:
1) Is CMTS part of the IB unit? If not what is it?
2) What kind of entry level roles do they have?
3) What kind of work can you do in CMTS and what is the corresponding comp?
4) Can it be used as a segue to PE or is that completely out of the question?
Thanks a lot guys.
Its a vast coverage group that is comprised of debt capital markets, corporate banking, FX, derivatives, etc. Its part of the investment banking group but under markets - along side all the other capital markets teams. They sit on a trading floor.
They combined these different groups to combine client coverage and be able to provide a comprehensive product suite.
They sit on a trading floor but certain parts (eg: debt origination) can be behind "private" screens whereby you don't interact with anyone outside.
It's a sales function primarily.
Thanks Iplaygoodguitar! Any idea on comp and exit opps?
DB CMTS (Originally Posted: 04/10/2013)
Does anybody know about this desk: Deutsche Bank capital markets and treasury solutions? Comp? Exit Opps? Thanks
Probably similar to Citi's Global Transaction Services (GTS).
in terms of interview prep, any suggestions on how to prepare / what one should know going in?
any insight into what comp / exit opps for these positions might entail? could go jump to IB after a year or so as a first year
Location?
jax
Depends on what part of CMTS. Usually coverage (sales) for corporates/sovereigns. Products can include anything from debt to fx to options. It's basically a treasury solutions group. With regards to IB, it's borderline impossible. At DB, DCM falls under CMTS so that's as close to IB as you'll get. Comp is on par with other parts of the business but bonuses are lower given thin margins. Also, DB tends to be top heavy -not much room to promote / move around. Also, Jacksonville/Bristol is the direction they are headed in for CMTS so you're moving away from NY/London where IB is.
Make sure you feel the culture is right for you...DB groups can be hit or miss...very weak corporate culture.
Forgot to add, very little to no exit opps. You might be able to lateral to another bank or potentially DB ICG (sales). Many Sr. CMTS'ers have been lifers. I've heard the younger ones are disgruntled but you should get a sense on your own.
what if you become a "specialist" for cmts
Comp would vary on what group you're in. I'd venture to say cap markets makes more than corporate banking. Bases are probably the same, and about the same as banking. Bonuses may be a little smaller. Can't help you with exit ops.
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