I currently work as a Corporate Banking Credit Analyst for a large international bank. Does anyone have insight into exit opportunities?
From what I heard, most exits consist of Loan Syndication/Leveraged Finance, DCM, Relationship Management within Corporate Banking, and the occasional exit to Credit oriented HF.
My goal is to exit into IB (most likely an MM firm). Thoughts on how to approach this?
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Out of curiosity, why do you want to exit into IB?
I've just started my career and rather not pigeonhole myself as a "credit guy". I would only do it if I were to lateral to a Credit fund, but there are not that many where I live. IB seems like the best place to get a broad base and then make a jump from there.
I am targeting to get an M7 MBA in the future as well, so IB may help more from that front.
Makes sense. I’m in Corporate Banking also and know what you mean about “pigeonholing” yourself in credit. Similar to yourself, I would like to jump to IB however I would have to move cities. I think I’m just going to stick it out and hope to move to the relationship team in the future.
I have seen two individuals from my team move to IB, specifically LevFin and DCM. The DCM guy went to a MMB. He said the transition was easy, just his hours essentially doubled. The other transferred within our current bank into LevFin.
I see. If I wanted to move internally, I'd have to move countries since my bank does not have an IB presence where I am located (Canada). As well, I'm pretty only RBC has an actual Lev. Finance team.
My best bet will most likely be Loan Syndication or DCM areas but will definitely try to network and get a foot into Big5 or Boutique.
I made a move from CB to IB (advisory) through internal networking. Would have suggested an internal move but that seems difficult. I would probably target moving to an institution where CB and IB are in the same division /location so you can network internally. Would still target CB (relationship) roles for the time being.
Thanks for the insight - will definitely try to do so. Seems pretty hard overall, especially in Canada.
Will probably focus on completing the CFA charter before networking hard for an IB role.
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