SitusAMC Company Query
Hi All, first post on WSO so apologies in advance if this is ends up in the wrong forum / channels.
I wanted to find out if anyone had more recent insight into a company called SitusAMC (known as Situs pre merger) and specifically their European asset management operation if possible? From what i know they are in essence a 3rd party AM that performs loan servicing functions for lenders, pension funds etc. The majority of employee feedback to-date on the usual channels (Glassdoor / Indeed etc) seems to be from disgruntled contractors across the pond in the US.
I'm currently a senior analyst at a third tier bank within their Real Estate lending arm and due to various reasons am now looking for the next move. I've been in the real estate for c. 3.5+ years and whilst i'm no longer in my twenties, i'm conscious that the next career move is a considerable one.
Any feedback / advice would be greatly appreciated. Also, somewhat unsure what the exit opp's would look like from this type of company?
Thanks
Hi! I had a first round there last year randomly - in summary, yes I think you got it right, they essentially are 3rd party loan servicer's but they are pretty big in that space.
I am not sure what your end goal is but there's quite a gap between that and RE Debt Investing (main reason as to why I was curious..). I get you with the considerable career move and was/am in a similar situation. If you're in London, C James seems are a leading RE (Debt/Finance in particular) recruiter which I would reach to if I were you as there are more interesting opportunities out there if investing is what you want to do as Situs IMO could get you pigeonholed.
If not, a few other firms quite similar to Situs are MountStreet and Trimont to give you and idea. Hope that helps.
They have a good rep in the US. They operate a lot of third party support functions for various real estate firms (a lot of debt side for sure). I think your obvious exit ops from roles like these are to "jump" to the principal/client of what you are working on. Regardless, I would consider this good exp. for jobs in lending/buyside generally, or potentially in DE brokerage (but that may require a downgrade in title/rank).
If you don't like your current gig, this might be an upgrade, hard to judge.
Important note - This is based on a US view, I cannot speak for the Euro side of them or otherwise.
Thanks very much for both coming back to me. It’s been helpful and got me thinking.
That said, i’ve found it tough to even break into a REPE / RE investing job interviews and can only assume its my non IB / Consulting background. These employers / recruiters do seem to want very specific work experience.
As you highlighted, my only worry with an AM type role is that very risk of being pigeonholed as a “consultant” but I understand investment managers like LaSalle do have these type of functions in house however don’t necessarily pay as well.
^FYI, being a third party asset manager and being a "consultant" are two very different things.....
Also, I find the whole "pigeonholed" concept to severely overblown (I've ranted on that in other posts)
hi redever. what're your thoughts on moving up the ranks at a company like situs in the asset management area? I recently got an offer to work as an asset management analyst with them on the debt side, and it seems like there is structured progression from analyst - senior analyst - asset manager - etc. better to focus on moving up the ranks rather than exit ops?
So the reality for a lot of people is that it would probably be better to focus on "moving up" than exit ops and people actually impact their career progression by jumping as often as they do, especially when it is just for pure lateral or worse, backward role (clearly this varies by person, some win BIG time, this is the most YMMV thing ever). The chase of "prestige" really benefits the firms that offer it (i.e. the Goldman Sachs and Blackstone types), the reality is you will impress students back at your college, senior people in industry and over it and know its a lot of bullshit.
So, should you focus on "moving up" at a place like SitusAMC? Sure... I mean why not! If you start disliking it, then can focus on moving on. But, I think this should always be the strategy whereever/whatever you are doing.
In all truth, holding out on jumping jobs for a new ones that are are 1. higher paid, 2. upgrade in role/title, and 3. at a desired firm (note desired being personal, not some WSO fake prestige ranking), should be the goal. So if you get offered such a role and want to take it... great! If you focus your daily activities on getting promoted in the meantime.... great! All the networking and stuff you should do regardless of intent, that is the real purpose.
thanks for the detailed response. I am excited to get started there.
Their are many opportunities to learn and grow at Situs, and as you learn and grow and you decide to move on, you can try to join one of the lenders you will be supporting. Situs works with many of the top PE, Life Insurance, major banks and other major lenders in the business. So more than likely you can learn about the banks and if you want to target a specific PE or bank you can talk to people on those teams and then try to leverage an interview with the main person that works the closest with Situs.
Also work life balance is very good 45-55 week.
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