Brian DeChesare

OCTOBER 18, 2023

Even though we’ve covered industry groups vs. product groups and teams such as M&A , ECM , DCM , and Leveraged Finance , we continue to get questions about capital markets vs. investment banking. Do you work or get paid less in capital markets? Do you learn anything? What about the exit opportunities?

Banking 59

Banking Marketability Start-ups Equity 59

Brian DeChesare

JANUARY 19, 2022

FSG Investment Banking: What the Financial Sponsors Group Does The Financial Sponsors Group vs. the Financial Institutions Group The Financial Sponsors Group vs. Leveraged Finance vs. Debt Capital Markets Recruiting: Who Gets Into the Financial Sponsors Group? What Do You Do as an Analyst or Associate in the Financial Sponsors Group?

Private Equity Firm 72

Private Equity Firm Banking Equity Finance 72

Brian DeChesare

MARCH 9, 2022

The VC Partner is arguably the best “senior job” in finance: you sit on a private island atop a pile of cash, altcoins, and NFTs…. Just one problem: this might represent the VC Partner role in the metaverse, but it’s not quite an accurate description of the job in real life.

Finance 83

Finance Start-ups Equity Marketability 83

Brian DeChesare

DECEMBER 21, 2022

How do the non-business schools at the undergraduate target schools fit in? We’re at the end of another year, and, in many ways, 2022 was quite disastrous. Just look at the financial markets, the crypto meltdown, deal volume at banks, inflation, energy prices, Russia/Ukraine, supply chains, and the hiring environment in tech and finance.

Banking 80

Banking Start-ups Finance EBITDA 80

Brian DeChesare

NOVEMBER 22, 2023

The full list changes over time because banks get acquired, go out of business, and change their focus – while other banks make acquisitions and grow organically. I never expected to revisit the topic of bulge bracket banks so quickly because the full list changes slowly, and we updated it a few years ago.

Banking 97

Banking Start-ups Finance Equity 97

Brian DeChesare

AUGUST 16, 2023

As with PE in many other emerging/frontier markets, it’s more like growth equity than traditional roles at middle-market PE firms and mega-funds in the U.S. As with PE in many other emerging/frontier markets, it’s more like growth equity than traditional roles at middle-market PE firms and mega-funds in the U.S.

Equity 70

Equity Banking Start-ups Private Equity Firm 70

Internal Audit 360

NOVEMBER 7, 2022

Bernie Madoff was a well-respected hedge fund manager with unbelievable returns. I’ve been here ever since and learned how to provide value in different internal audit roles. One of the universal experiences of being an internal auditor is looking back on your early work and taking stock of just how far you’ve come.

Start-ups 98

Start-ups Banking 98

Brian DeChesare

SEPTEMBER 20, 2023

Most articles are copied/pasted/tweaked text, others appear to be written by ChatGPT, and others repeat generic questions you might get in an interview for a janitorial position. How would you analyze a potential investment and make a decision? Which companies would you have invested in or not invested in?

Start-ups 59

Start-ups Equity Marketability Terminal Value 59

Brian DeChesare

JUNE 21, 2023

You’ll also see a fair number of deals in the financial sponsors group due to the many sovereign wealth funds in the region. You’ll find influencers on Instagram, TikTok, LinkedIn, and other sites constantly praising Dubai and claiming it’s the best place to work or start a business. are much less active.

Banking 96

Banking Start-ups Finance Equity 96

Brian DeChesare

SEPTEMBER 14, 2022

Adding to the confusion is the presence of jobs with very similar names, such as “credit risk analyst,” “credit specialist,” and “loan officer.”. You could even argue that buy-side roles such as direct lending , mezzanine , and credit hedge funds fall under this definition. And What Do They Do?

Finance 74

Finance Banking Corporate Finance Start-ups 74

Brian DeChesare

DECEMBER 7, 2022

In the 1990s and 2000s, bankers from other regions could transfer to HK or start their first jobs there without a strong connection to the region or Asian language skills. The first thing to understand about investment banking in Hong Kong is that it’s unlikely you’ll ever be able to work in investment banking in Hong Kong. Huatai Securities.

Banking 52

Banking Equity Start-ups Finance 52

Brian DeChesare

AUGUST 2, 2023

If you send these emails to bankers in your networking/recruiting efforts, they will notice, and your chances of winning interviews and job offers will decrease. Example #1: How to Write 1 Page When 2 Sentences Would Do Here’s a long email from a student that is obviously AI-generated.

Banking 52

Banking Finance Start-ups Equity 52

Reynolds Holding

APRIL 23, 2023

They both knew how important it was to protect investors and promote our capital markets. 1] In his 11th term 20 years later, in the wake of the market crash of 1929, he was successful in getting a bill through to bring full, fair, and truthful issuer disclosures to the investing public. Thank you for inviting me to testify today.

Treasury 45

Treasury Marketability Finance Technology 45

Brian DeChesare

APRIL 6, 2022

The benefits of the group are almost like the benefits of getting into investment banking : brand/prestige, technical skills, and exit opportunities. The benefits of the group are almost like the benefits of getting into investment banking : brand/prestige, technical skills, and exit opportunities.

Banking 96

Banking Start-ups Equity Marketability 96

Brian DeChesare

NOVEMBER 1, 2023

When you hear the words “healthcare private equity,” two thoughts probably come to mind: Wait a minute, isn’t healthcare a risky/growth-oriented sector? Why do PE firms operate there? Don’t they need companies with stable cash flows? In most of the world, healthcare is either government-run or a mixed public/private sector.

Equity 59

Equity Private Equity Firm Start-ups Banking 59

Brian DeChesare

FEBRUARY 16, 2022

We previously covered public finance in a 2-part interview series, but those articles glossed over some nuances and did not get all the explanations correct. The experience you get varies widely – which is why it’s difficult to generalize the work, lifestyle/hours, and exit opportunities. more limited exit opportunities).

Finance 65

Finance Banking Equity Marketability 65

Reynolds Holding

SEPTEMBER 12, 2023

At this remarkable agency, we serve investors building for a better future and issuers raising money to fund innovation, while overseeing the $100 trillion capital markets where they meet. We engage with more than 40,000 registrants—asset managers, brokers, dealers, exchanges, fund complexes, public companies, and many more.

Banking 40

Banking Treasury Marketability Equity 40

Brian DeChesare

FEBRUARY 28, 2024

While everyone seems to know about equity research and trading stocks, fixed income research gets far less attention. But a few other reasons also explain why fixed income often gets overlooked: the unstructured recruiting process, fewer job openings, and the “cushiness” of senior-level roles.

Equity 59

Equity Banking Start-ups Finance 59

Simply Treasury

JUNE 15, 2020

In all magazines or newspapers, journalists get us drunk with this post-containment story. Each treasurer must think how to "sell" how treasury could have done better and how to strengthen the structure in future. Back to the office. And now what am I going to change? The next world would not be the same.

Treasury 52

Treasury Finance Banking 52

Brian DeChesare

APRIL 24, 2024

A long time ago, the idea of a pre-MBA internship was odd because most people stayed in their full-time jobs until their MBAs began. Also, getting into a top MBA was so much of a hassle that few people wanted to apply for something else before the program began. How Do You Apply for Pre-MBA Internships?

Start-ups 59

Start-ups Banking Finance Equity 59

Brian DeChesare

SEPTEMBER 13, 2023

Ask anyone interested in distressed debt hedge funds for “the pitch,” and they’ll probably mention one of the following: “It’s like long/short equity or credit , but more interesting!” Distressed debt investing offers advantages over other hedge fund strategies , but the marketing often oversells the benefits.

Equity 83

Equity Banking EBITDA Start-ups 83

Brian DeChesare

MAY 24, 2023

“Event-driven hedge funds” is one of the more confusing labels in finance. But the other problem is that all hedge funds are “event-driven” because they invest based on catalysts , or specific events that could change a security’s price. If this fund is right, the company’s price may increase by 50%.

Equity 64

Equity Start-ups EBITDA Banking 64

Brian DeChesare

DECEMBER 6, 2023

Almost all conversations about buy-side roles eventually turn to multi-manager hedge funds , also known as “pod shops.” There are only a few dozen large funds in this category worldwide, but they’ve greatly impacted the markets and finance careers. These funds are usually multi-strategy as well.

Start-ups 85

Start-ups Beta Marketability Comps 85

Brian DeChesare

JULY 19, 2023

When you hear the term “long-only hedge funds,” your first thought might be: “How can a hedge fund hold only long positions? Doesn’t that contradict the term ‘hedge fund’? Why would investors pay high fees for what is effectively a mutual fund?” These are all good questions.

Equity 52

Equity Beta Banking Start-ups 52

Brian DeChesare

APRIL 10, 2024

In Europe, 35% of football clubs have been funded via capital from PE/VC firms, sovereign wealth funds, or private consortiums. Table Of Contents Sports Private Equity Defined Why Did Private Equity Suddenly “Get Interested” in Sports? Why Did Private Equity Suddenly “Get Interested” in Sports?

Equity 82

Equity Private Equity Firm Start-ups Accounting Firms 82

Brian DeChesare

JULY 26, 2023

A long time ago, hardly anyone knew about search funds or search fund internships. But over the years, they morphed into a well-known topic and then a commonly derided topic – as many people argue that search fund experience is worthless, while others claim it’s “just as good” as working in banking or private equity.

Banking 52

Banking Equity Start-ups Private Equity Firm 52

Brian DeChesare

MARCH 13, 2023

How Does a $200 Billion Bank “Fail” in 24 Hours? Then, the bank lends these funds to companies and individuals and charges interest on these loans. But this is not how it works in the modern economy and financial system. It’s the second-biggest bank failure in U.S. history and the largest bank to collapse since 2008.

Banking 107

Banking Start-ups Equity Treasury 107

Brian DeChesare

OCTOBER 12, 2022

If you search for “how to start a private equity firm” online, you’ll find results that range from useless to tangentially useful to occasional nuggets of real wisdom. That said, much of it is better than the junk found on generic websites about how to start a hedge fund. How Does It Work?

Private Equity Firm 59

Private Equity Firm Equity Start-ups EBITDA 59

Brian DeChesare

NOVEMBER 30, 2022

And while the salary + bonus + carried interest levels are high, you probably don’t want to stay in a job you dislike for 10+ years just to make money. For example, you might get a bad performance review, and the firm might state that you will not be able to advance because you lack qualities X and Y (e.g., And what could be better?”.

Equity 84

Equity Banking Start-ups Marketability 84

Brian DeChesare

APRIL 13, 2022

When the average person thinks of hedge funds, long/short equity is often the first thing that comes to mind. The basic idea is simpler than other hedge fund strategies , but it gets more complex when you think about the entire portfolio and risk management: What is Long/Short Equity?

Equity 86

Equity Start-ups Banking Marketability 86

Brian DeChesare

JULY 27, 2022

Credit hedge funds might be the most consistently overlooked buy-side opportunity. But if you invest in credit and try to explain your job to a normie, their eyes will glaze over as you talk about credit default swaps, crossover credits, or the springing maturity date found on page 374 of a loan agreement.

Equity 52

Equity Start-ups Private Equity Firm Beta 52

IVSC

NOVEMBER 30, 2022

Bloomberg’s Stephanie Sparvero sat down with the IVSC to share her perspective on the importance of transparent evaluated pricing and how the International Valuation Standards can help address valuation challenges. How has your career led you to the role you have today as the global head of Bloomberg’s evaluated pricing service?

Start-ups 130

Start-ups Marketability Finance Banking 130

Brian DeChesare

JUNE 22, 2022

Why would an Analyst or Associate want to work anywhere but NY for their first job?”. But there are valid reasons to care about other cities: Multiple Offers – What if you want to work in NY, but you get offers for groups in Chicago and LA and nothing in NY? Major cities in the U.S., I enjoy watching the flames from a safe distance.

Banking 89

Banking Start-ups Finance Marketability 89

Reynolds Holding

MAY 2, 2023

The 1990s also was pretty relevant for the private fund field. The Managed Funds Association was founded in 1991. (As Congress passed amendments in 1996 to the securities laws that included a new exception from registration allowing private funds to have an unlimited number of qualified investors. [1]

Treasury 45

Treasury Equity Marketability Banking 45

Brian DeChesare

JANUARY 18, 2023

Most articles present generic details everyone already knows, such as “finance jobs pay higher salaries, on average.”. If finance jobs pay a 50-100% premium to normal jobs today , but that falls to 20-30% in 10 years – as your career advances – that’s an important little detail. or asking ChatGPT about it.

Finance 119

Finance Start-ups Banking Corporate Finance 119

Brian DeChesare

JANUARY 4, 2023

In March, the Fed finally started hiking rates, and in May and June, the pace accelerated; the federal funds rate ended the year in the 4.25% – 4.50% range, the highest level since 2007. A better question might be: “So, how much were you down by?”. Real Estate (Equity Funds + Owned Properties): 15% [Up 5%]. Short-Term U.S.

Marketability 86

Marketability Start-ups Treasury Dividends 86

Brian DeChesare

FEBRUARY 2, 2022

How about $80K + $85K * 0.5 + $100K * 0.5 = $172.5K? I did not expect to revisit investment banker salary and bonus data for a while, but the banks ruined my plans by changing base salaries multiple times in less than a year. Unfortunately, that has made it difficult to determine the “average ranges.”. But the ranges are also much wider now.

Banking 129

Banking Start-ups Equity Finance 129