11 Comments
 

Syndications = sales Lev Fin = IBD, structuring, analysis

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 
YellowLorrySlow

I understand the basic differences but I am looking for more in-depth/technical differences

ex. would a syndicating bank have a title on a deal like bookrunner or something. What are the respective titles for lev fin team vs syndications

Yes. Sometimes, not always. At worst just MLA.

Titles of what? Analyst, Associate etc...?

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 
YellowLorrySlow

I understand the basic differences but I am looking for more in-depth/technical differences

ex. would a syndicating bank have a title on a deal like bookrunner or something. What are the respective titles for lev fin team vs syndications

Someone would be lead left. Usually they are the administrative agent. Not really sure what you are asking for...

 

In a syndication you have a lead left arranger, this is the aforementioned "bookrunner". Then you have the agent, then the participants (smaller banks usually). Arranger and agent earn a majority of the upfront fees.

 

Can't speak as much on leveraged finance as I can on loan syndication and DCM, but interested in hearing others.

 

syndications = sales lev fin = banking

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

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