Hey Chimps,
I currently work as a commercial credit analyst and I am being offered a move to a loan workout and restructuring group. I am having a really hard time finding information on what this job could become as I continue my career. Also, what this role might look like at a BB vs a regional.
My main concerns are what my exits would look like, if any. If this is a job I'm going to get stuck in then I probably don't want to go for it.
Ideally some insight into if I should stay in my current position or move to this one. I do like working in debt and wouldn't mind working on the buy side at some point. If I stay sell side, I'd want to be in LevFin or DCM.
Hey congrats and good luck with your decision. To provider an outsiders perspective I think the title of the group sounds good. I think distressed is fairly respected in the financial world, especially the buy-side even if it may be a space potentially dominated by lawyers and/or former lawyers. It could be a good place to learn a solid technical, deep skill set since a lot of the stuff in that space is fairly bespoke and customized. Hopefully if you like the work and the people you can move into something you like more like the buyside and/or into a more regular Levfin/dcm group. Just providing some color that I hope may be helpful. Good luck again :)
Thank you very much for the comment. This group is mostly made up of lawyers according to the director. The bank isn't very busy with distressed obligations, but i imagine as the credit cycle takes a turn when rates climb, we will see a turnout of work.
I hear. Yea it’s a cyclical space. Not sure if you may want to do distressed for a career but it can help for credibility and/or rounding out your skill set as a financial/investment professional to see some BKs and tough financial situations. It’s nice to be able to help those companies. Generally a nice feeling in terms of “social good” to the extent possible when you help a company stay alive and try to keep jobs / help people not lose jobs as compared to sometimes just helping millionaires become billionaires on the “healthy” side of the business. But that’s good too
Have you thought of lateraling to a Financial Asset Group (FAG) group yet?
I’ll have to look into this. Thank you.
Was in a group like this at a BB. DM for specifics to your question
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