I was offered a summer analyst job at Lloyds Bank NYC & have to choose my top three areas to work in the Front Office: Coverage Area (Financial Instituions or Global Corporates) or Product Area (Capital Markets, Financial Markets or Global Transaction Banking). Any input on these areas at Lloyds? Leaning towards Capital Markets as a 1st choice, but unsure.Thanks.
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if coverage is M&A then I would pick that as the skills you develop are more in-demand than capital markets' skills. This is my opinion obviously.
Thanks. I was hoping for M&A. Lloyds is sending me more info on each area this week... Coverage only offered the choice between global corporates or financial institutions... i ah e to rank my first 3 choices out of the above product coverage areas...
Do not assume that coverage in Lloyds = typical IB coverage. To the best of my knowledge, coverage in Lloyds is predominantly corporate banking coverage, while Capital Markets handles Lev Fin transactions. Reach out to the groups quick and start working out what each group does rather than waiting for info on here, which will most likely be incorrect.
Thanks! They sent me a package defining the areas... Lloyds doesn't do IB, but I want to make sure I'm learning transferable skills for when I start full time recruitment next fall.
I'd go for Capital Markets. If you can get into their DCM, Loan Markets or US Bond Syndicate groups, they'd likely have the most transferable skill set for recruitment next fall. In coverage you may end up spending a lot of time focusing on less relevant corporate banking products.
Definitely coverage, unless their products/capital markets guys do modelling.
Thanks. Lloyds is sending more info this week on each area... I have to rank my first three choices... I'll see if they do modelling. Good info.
Call analysts/associates in these groups and ask them for yourself. If you do that, you will get a much better understanding about what the groups do and also meet people who already work on those desks.
I wonder if the company will allow it. I have to let them know by the 18th, but I'll ask if I can speak to some people before I make my decision. Thanks!
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