Need advice with transition from Wholesale credit into Investment Banking
I'm a wholesale credit SA at a BB (JPM/BOAML/Citi) and I want to get some advice on transitioning into IB coverage or other product groups. I'm on the asset based lending team which is a very specialized and profitable part of wholesale credit. Deal flow is fairly heavy in comparison with my peers that's within investment banking wholesale credit. We also work with investment banking clients, however most of our clients are from major financial sponsors groups think Icahn, Golden Gate Capital and Bain Cap. I support credit portfolio managers (VPs) directly and I have great exposure to leveraged finance, syndication and restructuring. We do Credit Analysis Memos which is equivalent to CIM (confidential information memo) on the IB side. Don't think we will be working on pitch books because there's always more client that's looking for our product than the bank is willing to provide. Due to the nature of our deal cycle, I'm expecting to participate in 3-4 deals by the end of the summer.
Outside of the summer internship, I worked full time while attending a non-target school in NYC full time. I spent 6 months working with Wells Fargo advisor, 1+ year at JPM in consumer wealth management, 6 months at TD Bank in retail and 1 year at BOA in retail. For school leadership, I'm the founder / president of Alpha Kappa Psi, Chairman for Beta Alpha Psi and some other eboard positions at various clubs. My GPA is at 3.5, and I'm taking the CFA 1 this June.
I have been networking with mainly IB teams here in Atlanta for the summer because I'm relocated to Atlanta from NYC for the internship. Some directors and VPs at regional bank such as SunTrust and boutiques is willing to guide me through recruiting and offered to review my resume. However, I don't know how well that is going to turn out, given I'm not from one of the southern schools.
I often tell people that I don't have a Ivy League degree but I have a PHD that stands for poor hungry and driven. However, at this point I'm just desperate and depressed because nothing is working for me. I did 11 interviews in the previous summer recruitment with almost every firm you can think of. However, I was only able to land 1 IB coverage interview with HSBC. Did a bunch of S&T and middle market banking interviews that I have no interest in. Can someone offer some advice on what I can do?
Dicta placeat dignissimos placeat qui iure nisi dolorem nobis. Velit sed sunt voluptates et.
Omnis ratione tenetur cum consequatur debitis delectus. Nesciunt laboriosam autem iusto ipsam consequatur. Nesciunt ad itaque officiis possimus id placeat ea. Nisi eos deleniti laudantium a. Et reiciendis sed recusandae sapiente. Officia magni debitis enim mollitia tenetur tempore rerum a. Inventore quas eum fuga quisquam dolorum et aut rem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...