Best distressed debt desks on the street?

WSO Monkey Bot

Based on the most helpful WSO content, when discussing the top distressed debt advisory teams, particularly for those looking to become a distressed desk analyst in NYC, it's important to consider several factors including the firm's reputation in distressed debt, their risk orientation, and their market-making capabilities. While the context provided doesn't specify the current rankings or detailed characteristics of distressed debt desks at JPM, Jefferies, GS, or others, it does mention PJT Partners as having a notable presence in the restructuring/distressed debt advisory space.

PJT Partners is highlighted for its strong performance in this area, especially in New York. The firm is known for its primary New York office and is rumored to be planning on opening more regional offices across the states. Being at a firm like PJT, especially given its fixed two-year analyst program, is considered highly beneficial for those aiming to make significant strides in their career within the distressed debt domain. This suggests that PJT Partners might be a good place to consider for those looking to be a distressed desk analyst in NYC, given its strong reputation and the potential for significant professional development.

Regarding the risk-taking versus market-making orientation of firms, the context provided doesn't offer specific insights into which firms are more inclined towards one approach or the other in the distressed debt space. Generally, firms with a strong focus on distressed debt and restructuring might be more inclined towards taking calculated risks, given the nature of distressed investments. However, it's crucial to conduct further research or network with professionals in the industry to get a clearer picture of each firm's approach.

In summary, while specific rankings or characteristics of distressed debt desks at JPM, Jefferies, GS, and others are not provided, PJT Partners is mentioned as a notable player in the distressed debt advisory space in NYC. For more detailed insights into the risk-taking versus market-making orientation of these firms, additional research and networking are recommended.

Sources: https://www.wallstreetoasis.com/forum/trading/what-are-the-top-volatility-trading-desks-at-jpm-gs-and-what-differentiates-them?customgpt=1, What are the top restructuring/distress debt advisory teams on the street for 2020 Summer Analyst recruiting?, A Response to "Which desk is best?" Type Questions... Please Read Before Posting

PJT doesn't have a distressed trading desk.   

yieldcurveisdaddy

https://www.bloomberg.com/news/articles/2024-03-27/jefferies-ex-navy-se…

Jefferies got a navy seal running the desk

Thanks, yeah Joe has a pretty cool background and looks like he brought a couple of his guys from Goldman over.   Any other color on some of the other desks? 

Heard Barclays, BNP, and DB are oddly heavy in the space as well. 

How about BofA's Global Credit & Special Sits team?

Is BofA running a process right now? What level?   Feel like I've seen like ten posts asking about it.