Where does the debt syndication desk sit?

I was in loan syndications, although it was a few years back. It is so underrepresented and underhyped. I loved it, it's great work, if you work for a name bank, you'll work with major, recognizable clients, may have opportunity to meet/work with their senior management, depending on the situation (sometimes it's just a roll-forward of an existing facility, although for my mortgage banks, those are the clients I met with annually and knew the entire C-suite at an Associate!).

Corp RMs are doing the credit analysis/underwriting, and you take on the debt modeling analyses and various downward (e.g. haircut) scenarios, deal pricing, syndication strategy, marketing strategy. That piece was included in the credit committee submission, and we attended committee and presented our piece or responded to questions. Since the bank will lend a piece as Lead Arranger (at least in my case), we needed to back up our pricing and syndication strategy. With pricing, you do comps analysis, so you get to know the market. You prep a pitch, a CIM if you win, etc. We used to go to market with a bank meeting, kind of like a one-stop road show, and then work with our sales team and the other bankers or fund investors to help them with their committee submissions. Closing, funding, fees, etc. Amendments and waivers, as needed. Even renewals are interesting, because you're working with a client over a period of years, and see their businesses evolve, handle issues or transactions as they arise and may be involved in restructuring where needed. It's very interesting, really smart people, really not so "second fiddle" to IB (I've done both). It's its own interesting segment. You have a lot of interaction with legal (at least I did ) and negotiating the credit/security/guarantee/intercreditor docs, learning a lot from them. There's time and multiple- transaction pressure just like IB. I'm not sure why it's not more hyped, it's a very important means of providing capital and financing for the country.