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The Leverage Academy Advisory team provides capital raising and consulting services to middle market businesses & non-profit organizations. In addition to assisting in the business planning phase, the team provides access to experienced entrepreneurs and financiers at all stages of a project's life cycle. The team also specializes in Valuations, Fairness opinions, and Capital raising for transactions with enterprise values between $5 and $100 million.



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Recruiting - Job Descriptions

The Leverage Academy Podcasts Page is your resource for downloading pre-recorded interviews for your iPod or mp3 player. Take advantage of our resources for your interviews! This page also includes profiles of large financial services firms on the buy side and the sell side to help you prepare for interviews in corporate finance, investment banking, capital raising, asset management, and alternative investments.

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Job Descriptions


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Goldman Sachs: Analyst Program


What you should know about Goldman Sachs and its Analyst Program:

The Firm:

Goldman Sachs is one of the oldest and most prestigious bulge bracket investment banks on Wall Street. It is a public company (NYSE: GS) with about 30,000 global employees and multiple lines of business, including investment banking (advisory), financing (debt & equity), insurance, asset management, principal investing, sales & trading, commodities, clearing, and fund administration. These businesses are organized into three divisions: securities & asset management, principal investments and trading, and investment banking services.

The firm has offices in New York, London, Frankfurt, Hong Kong, Tokyo, and in other global financial centers.

Competitors:

The firm's largest competitors include Morgan Stanley, J.P. Morgan, Citigroup, Bank of America Merrill Lynch, Credit Suisse, and Deutsche Bank.

Management:

The current CEO of Goldman Sachs is Lloyd Blankfein, formerly a salesman at the firm. The previous CEO, Hank Paulson, was also a member of the U.S. Treasury and started his career as an investment banker.

Groups:

The best investment banking groups at Goldman Sachs have historical been TMT (Technology, Media and Telecom) and FIG (Financial Institutions Group). Unlike larger banks including JPMorgan, Bank of America Merrill Lynch, and Citigroup, Goldman Sachs does not lead with its balance sheet.

History:

Goldman was known for establishing the IPO market in the United States in the 1900s and was also the first bank with an M&A group.

League Table Rankings:

As of July 2010, Goldman Sachs served in an advisory role on 130 deals worth more than $220 billion. The firm thus had market share of about 20 percent of worldwide investment banking activity, according to Dealogic.

Analyst Perspective:

Very selective in recruiting. The firm hires analysts based on personality, fit, and raw intelligence. Teams are filled with very smart people working long hours, focused on an industry. All M&A execution is done within industry groups.

Compensation:

Compensation at Goldman Sachs has been at or above market for the last decade. For analysts in the class of 2010, this was $70,000 base, $10,000 signing bonus, and $60,000 discretionary bonus. For second year analysts, it was $80,000 base, $80,000 discretionary bonus.

Target Schools:

Harvard, Yale, Wharton, Brown, Cornell, Dartmouth, Stanford, Duke, Georgetown, UVA, Howard, NYU, Michigan

Private Equity:

Extremely strong feeder program for private equity, but both HR and senior bankers are extremely protective of analysts and do not like analysts to leave. Analysts who accept private equity offers are often asked to leave the firm.

Hedge Funds:

Equally strong feeder program for hedge funds.

Contact Information:

200 West Street
New York, NY 10282
Phone: (212) 902-1000
Fax: (212) 902-3000
www.gs.com:

*For HR contact information, please contact info@leverageacademy.com.
**For salary schedule, please contact info@leverageacademy.com.


Goldman Sachs Financing Group Descriptions


The Americas Financing Group (AFG), which is a part of the Investment Banking division, originates and executes all financing initiatives within Goldman Sachs.

Within a dynamic, market-driven environment, our teams work closely with corporate clients, pension funds, financial sponsors and governments to structure and execute some of the largest and most complex financing and risk management transactions.

Our aim is to provide our clients with the best and most innovative financing and risk management solutions across the full product spectrum, including equity, debt and derivatives. To achieve this goal, the Financing Group comprises all Goldman Sachs' capital markets departments, and operates in close cooperation with other areas of Investment Banking and other divisions within the firm, including Fixed Income, Currency and Commodities and Equities.

The Financing Group is multi-faceted and includes the following subgroups:

Corporate Derivatives - The Corporate Derivatives desk works with corporations in developing a customized risk management strategy (interest rate, credit, FX), and helps clients reach those goals through execution of derivative strategies.

Equity Capital Markets – The Equity Capital Markets team originates, structures, and executes equity, convertible and equity derivative financings and solutions on behalf of Goldman Sachs' global corporate client base. The group cultivates day-to-day advisory relationships with multinational corporations, private companies, governments and financial sponsors. The group is divided both by product (equity, convertibles and derivatives) and by industry (to mirror those in the Banking Classic) and works closely with many other areas of the firm, particularly Equity Sales and Trading and Banking Classic.

FIG Derivatives - The FIG Derivatives desk works with financial institutions in developing a customized risk management strategy (interest rate, credit, FX), and helps clients reach those goals through execution of derivative strategies.

FIG Financing - The FIG Financing group is a coverage team focused on analyzing fixed income market trends to provide financing advice to banks, specialty and captive finance companies, insurance and reinsurance companies, and hedge funds. Primarily responsible for debt and hybrid securities, but also work with multi-functional teams to analyze opportunities and cross-market products such as derivatives and risk management, convertibles, accelerated share buybacks and liability management transactions.

Investment Grade Capital Markets - The Investment Grade Capital Markets team advises investment grade rated corporations and governments on capital structure across debt, hybrid, derivative, and equity-linked products. The group acts in concert with our traditional Investment Banking coverage effort and alongside the specific expertise of our associated product groups to execute Investment Grade financings.

Investment Grade Syndicate - The Investment Grade Corporate Syndicate desk sits between capital markets, banking, sales and trading and is responsible for marketing, pricing, and distributing new corporate bond, hybrid and preferred stock USD issues for highly rated companies from around the world.

Leveraged Finance - The Leveraged Finance group advises, originates, structures and executes bank loan and high yield bond financings for corporate clients and financial sponsors, including LBOs, refinancings, M&A transactions and restructurings. The group focuses on the high yield bond and bank loan debt products and works closely with Bank Loan and High Yield Capital Markets & Syndicate as well as Banking Classic.

Leveraged Finance Capital Markets & Syndicate (Bank Loans and High Yield) - The combined Bank Loan and High Yield Capital Markets & Syndicate desk specializes in underwriting and syndicating bank loans and high yield bonds, which are key components of leveraged financings, including LBOs, refinancings, M&A transactions, and restructurings. Specifically, the group is responsible for helping originate, structure, market, price, and distribute bank loans, bridge loans, and high yield bonds for sub-investment grade, more high levered companies around the world. The desk acts as a nexus points of contact between the debt capital markets (including sales, trading, research, and buyside investors), Leveraged Finance and classic Investment Banking, as well as issuing clients (corporates and financial sponsors).

Liability Management - The Liability Management group is a specialized product group within Capital Markets that advises on and executes public and private debt transactions including tenders, exchanges, and consents often as part of broader corporate restructurings including asset sales, mergers, acquisitions and refinancings.

Corporate Finance Solutions Group - CFSG focuses on helping structure complex M&A, debt, equity and other financing transactions through in-depth expertise in tax, legal and accounting issues. The team’s ability to integrate structuring advice, financial acumen, market intelligence and distribution prowess provide clients specific expertise. The team also drives the development of analytical tools generate customized capital structure advisory solutions to facilitate financing and risk management transactions.

Structured Finance - The Structured Finance group works with clients to securitize assets, businesses and risks in the course of acquisition financing and balance sheet management, including catastrophe bonds, life securitization, film & entertainment financing, aircraft structured financing, infrastructure securitization, franchise royalty and intellectual property securitization, auto loan securitization, student loan securitization and related areas.

Qualifications

Financing Group new analysts should have:

• A keen, long-term interest in investment banking, coupled with a market orientation
• Drive, enthusiasm, creativity and excellent interpersonal skills
• Strong quantitative and technical abilities
• An outstanding academic record. While not required, completion of course work in finance, economics and accounting can provide a valuable foundation for the new analyst position
• Personal integrity, initiative and leadership qualities
• Strong verbal and written communications skills
• Strong multi-tasking and time management skills
• Ability to work as part of a team in an environment that demands excellence, time and energy


GS Derivatives Group


The derivative groups work with counterparties in developing a customized risk management strategy and help clients reach those goals through execution of derivative strategies.

As part of the America Financing Group under the Investment Banking Division, the derivative groups work with clients to structure risk solutions in the course of M&A activity, financings, and balance sheet management. The derivative groups work closely with Goldman Sachs' core investment banking groups globally to increase product breadth and enhance the overall franchise.

Analysts/Associates are integral members of the team who serve our international clients and are actively involved in the origination, structuring and execution of various types of risk solutions. They develop strong client relationships and new business generation skills, while focusing on the markets and applying their technical skills.

Responsibilities

• Develop deeper derivatives and capital markets knowledge
• Prepare and analyze complex financial models
• Participate in structuring and negotiating of derivative documentation
• Prepare presentations and marketing materials
• Coordinate deal execution process
• Interact with clients, other GS groups, and legal counsel

Requirements

• A keen, long-term interest in investment banking, coupled with a demonstrated interest in financial markets and derivatives specifically
• Drive, enthusiasm, creativity and excellent interpersonal skills
• Strong quantitative and technical abilities
• An outstanding academic record. While not required, completion of course work in finance, economics and accounting can provide a valuable foundation for the new analyst position
• Ability to work as part of a team in an environment that demands excellence, time and energy
• Bachelor’s degree plus minimum one year of experience in a relevant role; or MBA plus minimum one year of experience in a relevant role
• Demonstrated strong capability with quantitative and analytical concepts. Academic qualifications in a quantitative discipline are an advantage but not a requirement
• Knowledge of derivatives valuation and pricing


GS Leveraged Finance Associate


The Leveraged Finance team provides a full array of financing solutions for non-investment grade corporate clients and financial sponsors. Our Leveraged Finance professionals focus on originating, structuring, underwriting and executing debt financings (leveraged loans, high yield bonds, bridge financing and mezzanine debt), including leveraged buy-outs, refinancings, M&A transactions and restructurings.

Ideal candidates will have:

• A minimum of 1-2 years' direct experience in leveraged finance or a related field (e.g., as an investment banking associate in an M&A team or industry coverage group)
• 4 or more years' total experience in investment banking or a related field
• Completed an investment banking analyst program at a leading firm before being promoted to associate (preferred); or
• Completed an MBA and have leveraged finance experience and/or experience as an investment banking associate in an M&A team or industry coverage group


Private Wealth Management: Investment Strategy Group


The Investment Strategy Group (ISG), within Private Wealth Management, provides thoughtful strategic asset allocation expertise to help clients preserve and grow their wealth. The process starts by balancing investment opportunities across a wide range of asset classes and geographies and is tailored to the client's unique circumstances.

Some of the responsibilities of an analyst include developing asset allocation models, researching various asset classes using rigorous quantitative models as well as qualitative judgment, and disseminating the group's views and customized recommendations to PWM investment professionals and clients. The analyst will work closely with investment professionals from all regional offices in the U.S. and will use his/her expertise in the Black-Litterman model to create customized asset allocation solutions for clients with unique circumstances. Strong quantitative and analytical skills, intellectual curiosity, and interpersonal skills are all critical.

Principal Responsibilities:

• Analyze and optimize portfolios using the Black-Litterman model
• Research and perform quantitative analyses of different asset classes
• Disseminate information and views to Wealth Management teams and their clients
• Create customized presentations to help clients achieve their goals
• Build financial models to analyze different aspects of portfolio risk and return

Experience/Skills:

• Strong analytical and quantitative skills (undergraduate and/or graduate degree in a quantitative discipline, such as Math, Physics, Computer Science, Engineering)
• Ability to multitask
• Strong interpersonal and communication skills
• Maturity, judgment and poise
• Detail-oriented
• Team player
• Ability to work in a fast-paced environment, motivated
• Strong knowledge of Excel and PowerPoint
• Some experience with programming
• Some finance background


Private Wealth Management: Strategic Relationship Management Analyst (SRM)


The Americas Financing Group (AFG), which is a part of the Investment Banking division, originates and executes all financing initiatives within Goldman Sachs.

The Strategic Relationship Management (SRM) group leads Private Wealth Management’s business development efforts involving PWM clients and their interaction with other areas of Goldman Sachs.

SRM is charged with driving revenues for Private Wealth Management (PWM). SRM accomplishes its mandate by developing and executing strategic business initiatives between PWM and IBD-MBD-other parts of the Firm. SRM’s core functions include: Cross Marketing, Providing Clients Access to the Firm and Business Development, which is driven by our Key Client Initiative. KCI is focused leveraging all areas of the Firm to target the universe of super-wealthy and super-influential individuals that are critical to the PWM franchise and to the Firm overall.

SRM’s primary responsibilities include; (i) serving as the central interface for communication and business flow between the above-mentioned groups; (ii) evaluating IBD/MBD transactions and relationships for PWM and Ayco opportunities and vice versa; (iii) staffing and monitoring these opportunities, as well as reporting to senior management around the firm; (iv) participating in numerous strategic initiatives including client targeting, cross-divisional education, developing metrics for measuring success, and developing client relationship management systems; An analyst in SRM will gain a broad understanding of the PWM and Ayco products/services and strategic goals, as well as have extensive exposure to IBD, MBD, and other areas of the Firm. The analyst will have frequent interaction with senior management in all the above-mentioned areas of the Firm and will be a key member of a small group.

Principal Responsibilities:

• Build relationships and maintain regular dialogue with the Business Unit Leaders, Business Unit Managers and senior bankers of IBD/MBD in order to monitor and leverage IBD/MBD deal-flow and relationships
• Conduct research on IBD/MBD transactions to determine business opportunities for PWM
• Analyze and direct new business referrals from PWM and to IBD/MBD
• Interact daily with senior professionals in IBD, MBD, PWM, and Ayco to determine strategy for and timing of new business solicitations
• Develop presentations to senior management, and other audiences around the Firm
• Monitor, analyze and report on various Business Development and cross-marketing initiatives
• Extensive data management

Experience/Skills:

• Desire to focus on a broad range of projects and areas
• Strong interpersonal and communication skills
• Detail-oriented
• Maturity, judgment and poise
• Ability to dissect issues, think strategically, and problem-solve
• Organizational and writing skills
• Motivated, self-starter with strong work ethic


Private Wealth Management: Marketing & Communications Analyst


The Global Private Wealth Management (PWM) Marketing and Communications team is based in New York and responsible for marketing strategy, marketing programs and internal communications conducted by the PWM business. Past projects have included defining the strategic value proposition, redesigning the prospecting brochure and enhancing the language we use to communicate our core abilities to clients and prospects. Additional projects include conducting client market research, managing the redesign of the external client pitch and review books, rewriting the PWM copy for the public web site and managing discrete marketing programs for sales and product teams. The professional should have an interest or experience in the Private Wealth business and the sales / marketing process.

Principal Responsibilities:

• Facilitate and manage marketing and development efforts on a variety of strategic initiatives and special projects supporting the various PWM businesses
• Analyze complex issues, synthesize information from multiple sources and develop a clear, compelling narrative
• Apply qualitative assessments and complete in-depth analyses on different facets of the business, including existing businesses as well as new or topical areas for the business to explore
• Work closely with regional counterparts in the US, EMEA and Asia
• Define and lead projects related to PWM, especially in instances where the business interfaces with Federation divisions

Experience / Skills:

• 2 to 4 years work experience in the Financial Services sector
• Excellent verbal and written communication skills (writing sample required)
• Self-motivated, confident, strong initiative combined with good interpersonal skills
• Strong teamwork skills and ability to work with a wide user group in different regions of the world to accomplish an objective
• Attention to detail and accuracy with exceptional organizational skills


Business Analyst: Mergers & Acquisitions


The Business Analyst will be part of the Merger Leadership Group, a small team within the Investment Banking Division that assists in the development and execution of merger transactions globally across the division.

Responsibilities include:

• Researching and developing materials relating to trends in the global M&A market
• Analyzing corporate governance trends and takeover defenses
• Working with M&A deal teams to identify precedent transactions and deal terms
• Creating and maintaining materials that are used throughout the investment banking division.
• Managing various aspects of the internal and external processes related to meetings of the fairness committee, delivery of fairness opinions and public disclosure of Goldman Sachs’ advice and analysis

Requirements:

• 1 or more years of investment banking, corporate legal or M&A-related experience preferred
• Highly motivated self-starter
• Ability to handle multiple assignments and prioritize as necessary
• Very strong written and oral communications skills necessary
• Dependable
• Familiarity with SDC, Factset, other databases a positive

This position would be well suited to candidates considering law school in the future, as well as those interested in the M&A business.


 

Morgan Stanley: Analyst Program


What you should know about Morgan Stanley and its Analyst Program:

The Firm:

Morgan Stanley is one of the oldest and most prestigious investment banks on Wall Street. The firm has a great reputation for M&A advisory services and a very traditional banking culture. Morgan Stanley three primary business lines: investment banking, investment management, and wealth management franchises and has about 50,000 global employees.

Competitors:

The firm's largest competitors include Goldman Sachs, J.P. Morgan, Citigroup, Bank of America Merrill Lynch, Credit Suisse, and Deutsche Bank.

Management:

The current CEO of Morgan Stanley is James P. Gorman, formerly a co-president at the firm. The previous CEO, John J. Mack, was the sixth son of Lebanese immigrants and was CEO from 2005 to 2010.

Groups:

The best groups at Morgan Stanley include Mergers & Acquisitions and TMT (Technology, Media and Telecom). The firm does not have a strong leveraged finance business because unlike larger full service banks including JPMorgan, Bank of America Merrill Lynch, and Citigroup, Morgan Stanley does not lead with its balance sheet.

History:

Morgan Stanley was founded by Harry Morgan and Harold Stanley in the mid-1930s of J.P. Morgan. In 1997, the firm merged with Dean Witter and Discover to form Morgan Stanley Dean Witter. The credit card business began performing poorly in 2005, so Discover was spun off in 2007, before the credit crisis. In the 4th quarter of the same year, Morgan Stanley reported its first loss and received a $5 billion investment from CIC (China Investment Corporation) to shore up its balance sheet.

League Table Rankings:

Morgan Stanley historically has been in the top 3 in the league tables for M&A advisory services globally.

Analyst Perspective:

Very selective in recruiting. The firm hires analysts based on personality, fit, and raw intelligence. Teams are filled with very smart people working long hours.

Compensation:

Morgan Stanley tends to pay at or above Wall Street. For analysts in the class of 2010, this was $70,000 base, $10,000 signing bonus, and $60,000 discretionary bonus.

Target Schools:

Harvard, Yale, Wharton, Brown, Cornell, Dartmouth, Stanford, Duke, Georgetown, UVA, Howard, NYU, Michigan

Private Equity:

Extremely good feeder program for private equity.

Hedge Funds:

Equally strong feeder program for hedge funds, depending on group.

Contact Information:

1585 Broadway
New York, NY 10036
Phone: (212) 761-4000
www.morganstanley.com

*For HR contact information, please contact info@leverageacademy.com.
**For salary schedule, please contact info@leverageacademy.com.


Morgan Stanley Capital Partners


MSCP is seeking to hire an Associate to start immediately or Summer 2011 in our New York office. Candidates should currently be in their second or third year of experience at a top-tier Investment Banking or Management Consulting program. This is a pre-MBA position.

The Associate will evaluate new investment opportunities across a wide range of sectors globally; conduct in-depth sector assessments; analyze and model financial projections; develop capital structure and valuation views; lead due diligence and financing; manage third party advisors (e.g., consultants, accountants and lawyers); and facilitate relationships with management teams and other partners. The Associate will work in investment deal teams with the fund’s investment and operating partners and with other investment professionals.

Background

Morgan Stanley has a long and successful history of private equity investing. Since 1985, Morgan Stanley has invested over $6 billion in private equity transactions on a global basis. In late 2006, Morgan Stanley announced a significant expansion of its efforts in private equity through Morgan Stanley Capital Partners (MSCP).

Our team of investment professionals brings significant expertise in structuring complex financial transactions and a dedication to partnering with entrepreneurial management teams, corporations, and sponsors. MSCP has assembled an investment team of approximately 40 professionals located in New York and London, augmented by the Morgan Stanley Private Equity Asia team of 30 professionals located in Hong Kong, Seoul, Tokyo and Beijing. We seek out the most attractive investment opportunities around the world and combine a global approach with in-depth local market and industry knowledge. Morgan Stanley’s extensive business relationships and global network of resources afford both our private equity team and our portfolio companies unparalleled access to leading corporations and management teams.

The MSCP investment team focuses on investments in North America, Europe and Asia by investing $100 million - $500 million of equity capital in transactions. The investments will typically include leveraged buyouts for control, recapitalizations and minority investments.


 

J.P. Morgan: Analyst Program


What you should know about J.P. Morgan and its Analyst Program:

The Firm:

J.P. Morgan Investment Bank operates through three divisions: investment banking, sales and trading, and research. In addition to the investment bank, the firm’s parent, J.P. Morgan Chase & Co., encompasses asset management, treasury and security services, commercial banking, retail financial services and card services. Today, the firm serves one of the largest client franchises in the world, including corporations, institutional investors, hedge funds, governments, healthcare organizations, educational institutions and affluent individuals in more than 100 countries.

Founded in 1799, J.P. Morgan has been helping our clients to do business and manage their wealth for more than 200 years. Its business has been built upon its core principle of putting its clients' interests first.

Headquartered in New York, J.P. Morgan Investment Bank has international offices with over 70000 employees in London, Frankfurt, Hong Kong, Tokyo, and in other global financial centers.

Competitors:

The firm's key competitors include Morgan Stanley, Goldman Sachs, Citigroup, Bank of America Merrill Lynch, Credit Suisse, and Deutsche Bank.

Management:

The current CEO of J.P. Morgan is James Dimon, who also serves as a Class A director of the Board of Directors of the New York Federal Reserve, a three year term which started January 2007.

Groups:

In 2009, J.P. Morgan’s M& A team advised clients on 322 mergers and acquisitions globally, more than any other bank. The top performing industry group is Financial Institutions& Governments (FIG). It arranged and raised $178 billion of capital for banks and financial institutions around the world; that amounts to nearly 10% of the capital raised in 2009 to restore the global banking system to health.

History:

In 1901, J.P. Morgan created the world's first billion-dollar corporation. In 1907, J.P. Morgan saved several trust companies and a leading brokerage house from insolvency, bailed out New York City and rescued the New York Stock Exchange.

J.P. Morgan is the first bank to pioneer the idea of American Depository Receipts (ADRs) in the early 20th century - allowing Americans to invest in foreign securities directly on American exchanges. More recently, It is well known on Wall Street to be among the first to pioneer credit derivatives.

In July 2004, the merger of two powerful and globally renowned institutions, J.P, Morgan Chase & Co and Bank One, created one of the world's most dominant financial service corporations. And as the 2008 merger with Bear Stearns illustrates, J.P. Morgan continues to demonstrate market leadership.

League Table Rankings:

For YTD September 30, 2010, JPM ranked:

_ #1 in Global IB fees
_ #1 in Global Debt, Equity & Equity-related
_ #1 in Global Equity & Equity-related
_ #1 in Global Long-term Debt
_ #2 in Global M&A Announced
_ #2 in Global Loan Syndications

Analyst Perspective:

The firm is extremely selective and the process is very competitive, especially if you do not attend one of J.P. Morgan’s core schools. The good news is that J.P. Morgan is very open-minded and aware of the fact that talented candidates come in many forms.

The firm strives for efficiency in recruiting, with most candidates getting a decision after just two rounds of interviews. The interview questions were aimed more at understanding how you thought about issues as opposed to how well you had crammed in formulas right before your interview.

Compensation:

Compensation at J.P Morgan has been very generous compared with the market. On average, first year analysts earn $70,000 base salary and $62,917 bonus. In addition, J.P. Morgan various employee discounts ranging from banking services to fitness programs.

Target Schools:

Harvard, Yale, Wharton, Wellesley, Spelman, Cornell, Duke, UVA, Howard, Washington& Lee, Baruch, Morehouse, Florida A&M University

Private Equity:

A key industry survey by Global Custodian magazine ranked J.P. Morgan as a top provider of private equity fund administration. Extremely strong feeder program for private equity, but both HR and senior bankers are extremely protective of analysts and do not like analysts to leave.

Hedge Funds:

Equally strong feeder program for hedge funds.

Contact Information:
270 Park Avenue
New York, NY 10017-2010
Phone: (212) 270-6000
Fax: (212) 270-1648
http://www.jpmorgan.com/pages/jpmorgan

*For HR contact information, please contact info@leverageacademy.com.
**For salary schedule, please contact info@leverageacademy.com.


 

Bank of America Merrill Lynch: Analyst Program


What you should know about BofA Merrill and its Analyst Program:

The Firm:

Bank of America Merrill Lynch is one of the world’s premier providers of wealth management, commercial banking services, securities trading and sales, corporate finance and investment banking services. BAML Investment Banking provides global market services and investment banking services to the clients worldwide. It is one of the leading investment banking service providers in the world. The firm is committed to offer capital collecting and investment banking advices to the companies, corporations and governments all over the world. The firm has its investment banking and private equity offices headquartered in New York City.

Following the combination with Merrill Lynch, Bank of America has become: • The largest brokerage in the world, with more than 15,000 Financial Advisors and approximately $2.2 trillion in client assets • A leading provider of global corporate and investment banking services, including commercial lending, global high-yield debt, global equity and global M&A • A global leader in wealth management, private banking and retail brokerage • Bank of America owns approximately 34% of the economic interest in BlackRock, an independent, publicly-traded investment management firm

Competitors:

The firm's key competitors include Morgan Stanley, Goldman Sachs, Citigroup, J.P. Morgan, UBS, Credit Suisse, and Deutsche Bank.

Management:

Brian T. Moynihan is the president and chief executive officer of Bank of America. Moynihan was elected to his role by the board of directors on December 16, 2009, and took office on January 1, 2010. Moynihan also is a member of the Bank of America board of directors.

Moynihan joined Bank of America in 2004 following the company’s merger with FleetBoston Financial. Moynihan is a graduate of Brown University and the University of Notre Dame Law School. In 2010, he was elected a trustee of the Corporation of Brown University.

Groups:

The best investment banking performer at the bank is the Global Financial Institutions Group (FIG). Ranked as #1 Global Financial Institutions team, its success is based on deep client relationships and strong partnership with its clients in challenging markets. In capital markets, the Leveraged Finance team is one of the Best on Wall Street, serving large corporate clients and financial sponsors including Blackstone, KKR, Cerberus, and TPG. BAML's leveraged finance team has repeatedly been at the top of the league tables

History:

Bank of America, a bank with offices across the nation, emerged in 1998 out of the union between NationsBank and BankAmerica Corp. Since its debut on the world stage, the bank has continued to grow and diversify its offerings.

The 2004 acquisition of FleetBoston Financial Corporation extended the franchise into the Northeast, stretching the Bank of America footprint the length of the East Coast. In recent years, the bank has acquired institutions that have allowed it to expand in three key areas: credit, home loans and investment banking.

The acquisition of MBNA in 2006 positioned Bank of America as the largest credit card issuer in the country, and provided customers with an opportunity to personalize their credit card experience through affinity banking.

In 2008, the bank was able to complete its acquisition of Merrill Lynch, creating a premier financial services franchise with significantly enhanced wealth management, investment banking and international capabilities.

League Table Rankings:

Dealogic 3Q10 Investment Banking Rankings:

_ #1 in U.S. Investment banking revenue
_ #2 in Global Investment banking revenue
_ #2 in U.S. Equity and #5 in Global Equity
_ #3 in U.S. Debt and #4 in Global Debt
_ #5 in U.S.& Global announced M&A

Analyst Perspective:

It is a very competitive hiring process, with recruiters seeking natural intelligence, optimism and fit. Bank of America Merrill Lynch makes its choices based on merit, social and academic achievement, and involvement—as well as personality. Indeed, Merrill Lynch takes pride in the individuals that make up the company. And as a result, the firm places tremendous emphasis on hiring only the most highly skilled, competent, disciplined and self-motivated people. However, says an insider, “Firm selectivity obviously differs on a group to group basis. My group has every person to sign off for a full consensus.”

Compensation:

Compensation at Bank of America Merrily Lynch is highly competitive. On average, first year analysts earn $70,000 base salary and $57,500 bonus.

Target Schools:

Harvard, Yale, Wharton, Wellesley, Duke, UVA, Howard, Columbia, Cornell, Georgetown, Brown, Stanford, University of Chicago

Private Equity:

Leveraged finance team is strong feeder for private equity.

Hedge Funds:

Not known for prominent hedge fund hires.

Contact Information:
One Bryant Park
New York, NY 10036
Phone: (646) 556-0587
Fax: (212) 326-9046
http://www.bankofamerica.com

*For HR contact information, please contact info@leverageacademy.com.
**For salary schedule, please contact info@leverageacademy.com.


 

Citigroup: Analyst Program


What you should know about Citigroup and its Analyst Program:

The Firm:

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

To provide its clients with best-in-class products, services and execution, its businesses are organized into five groups: Global Banking, Global Markets, Citi Capital Advisors, Citi Investment Research & Analysis and Global Transaction Services. This structure enables Citi to leverage its product breadth and geographic scope, and effectively align its resources with its clients' needs.

Citi’s Global Investment Banking unit provides comprehensive financial advisory and capital raising services to top corporations, financial institutions and governments worldwide. Clients receive tailored financial solutions and strategic advisory services on a wide range of M&A transactions and capital-raising activities including mergers, acquisitions, divestitures, financial restructurings, underwriting and distributing equity, debt, and derivative securities.

Citi is the preeminent global investment banking firm as well as the foremost global underwriter in combined equity and debt issuance. Its bankers are organized into industry, product and regional groups and work closely with its partners in capital markets, sales and trading, research and global relationship banking to offer customized financing strategies for its clients.

Competitors:

The firm's key competitors include Morgan Stanley, Goldman Sachs, J.P. Morgan, Bank of America Merrill Lynch, Credit Suisse, and Deutsche Bank.

Management:

Vikram Pandit is the Chief Executive Officer of Citi. Before being named CEO on December 11, 2007, Mr. Pandit was Chairman and CEO of Citi's Institutional Clients Group, which includes Markets & Banking and Citi Alternative Investments.

Formerly the Chairman and CEO of Citi Alternative Investments, Mr. Pandit was a founding member and chairman of the members committee of Old Lane, LP which was acquired by Citi in 2007.

Groups:

Citi Institutional Clients Group combines world-class investment and commercial banking services. As the business model for the rest of the industry, ICG meets the unique and varied needs of over 2,500 clients in more than 100 countries around the globe. Our unmatched level of products and services and geographic presence has made us the premier financial organization for corporations, governments and institutions.

The Investment Banking Division is organized along both global industry and regional lines and its global industry groups include: Alternative Assets (including private equity & sovereign wealth funds amongst others); Consumer; Healthcare; Diversified Industrials; Energy, Power & Chemicals; Financial Institutions; Real Estate; Technology, Media & Telecom. The Diversified Industrials group at Citigroup has been known to place well into private equity.

History:

In 1998, all Citicorp divisions merged with all divisions of Travelers Group to form Citigroup Inc. Citibank continues as a strong brand under the Citigroup umbrella.

Citi is today’s pre-eminent financial services company, with some 200 million customer accounts in more than 100 countries. Our history dates back to the founding of Citibank in 1812, Bank Handlowy in 1870, Smith Barney in 1873, Banamex in 1884, and Salomon Brothers in 1910.

League Table Rankings:

Citi advised on 6 of the 10 largest announced M&A deals in 2008, including the largest all-cash transaction ever (advisor to Anheuser-Busch in its sale to InBev).
Citi is currently ranked 2nd in Investment Grade Debt and 3rd in High Yield Debt, and Leveraged Loans, based on transaction volume through June 30th.
The firm has been falling in the M&A and Equity league tables due to recent restructuring efforts and a loss of talent under Vikram Pandit.

Analyst Perspective:

A summer internship at Citi is “a feeder into a full-time job,” sources say. Citi recruits at a select number of schools, and engages in a long recruiting courtship—school visits, informational interviews and phone calls—before the first round even begins. Candidates at non-target schools may have to do a number of informational interviews before getting to the recruiting process. According to one analyst, the recruitment process is extremely competitive and nearly impossible if you are from a non-target school.

Once candidates make it to the recruiting rounds, they find a process that is very personality-based. Citi’s hiring—more than many financial institutions—focuses on what kind of a fit the prospective employee will be within the firm’s culture. As a result, those who form relationships with members of the business have a very good chance of getting in.

Compensation:

In addition to very competitive market-related salaries that are reviewed annually and on promotion, benefits for new Analysts/Associates can include: Health care, Employee Assistance Program, pension, life insurance, long and short-term insurance and access to further education. Salary: $70,000, Bonus: Varies

Target Schools:

Harvard, Yale, Wharton, Wellesley, Duke, UVA, Howard, Columbia, Cornell, Georgetown, Brown, Stanford, University of Chicago

Private Equity:

Average feeder program for private equity.

Hedge Funds:

Average feeder program for hedge funds.

Contact Information:
Headquarters
399 Park Ave
New York, 10022
(212) 559-1000
http://www.citigroup.com/citi/homepage/

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