Recently accepted a summer internship with MS for public finance investment banking. The offer letter said it was in the fixed income division at MS. I'm wondering what else is in this division? Does it also include things like DCM and levfin? I believe those two are part of MS global capital markets though, so maybe there is overlap? Just curious as I could not find anything online.
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Fixed income is part of S&T, and LevFin and DCM are part of GCM. Not sure if you mean project finance which is in GCM, but I’m interning there and never have heard of the public finance group (I could be wrong but I don’t think it exists? unless it is in S&T?)
Well it does exist as I'm interning there next summer lol. But it's public finance investment banking, so it's like DCM but for state & local governments, and non profits. So these bankers raise municipal bonds, not corporate bonds. Maybe there's little interaction with the other fixed income groups since it's a niche area of finance?
Fair enough haha. From the way you described it sounds like GCM and all of the other capital raising groups. So it is in Fixed Income (S&T) and not IBD or GCM?
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