Associate Director, BRM - Direct Lending & Private Debt (Private Credit)

BRM Corporates & Infrastructure is currently seeking an AD for its Direct Lending and Private Debt (Private Credit) Team based in London Canary Wharf office.

About Fitch

Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, an industry-leading provider of credit risk products and services; and Fitch Learning, a preeminent training and professional development firm. With dual headquarters in London and New York, Fitch Group is owned by Hearst.

Fitch complies with all laws governing employment in each jurisdiction in which it operates, and provides equal opportunity to all applicants and employees. All applications will be considered without regard to race, colour, religion, gender, national origin, age, disability, marital or veteran status, sexual orientation, and other status protected by applicable laws.

Department Overview

The role is based within the Business & Relationship Management (“BRM”) group in London, which leads business development and marketing efforts for Fitch Ratings.

Within the BRM group, the EMEA Corporates & Infrastructure Group is responsible for the growth and development of the corporate ratings portfolio and managing relationships with corporate issuers, investment banks, investors and asset managers, debt advisory firms, private equity firms and law firms. The team has a primary focus on key influencers in the rating decision process, managing key relationships based in London and also oversees coverage across Fitch’s network of offices in the EMEA region.

What’s on offer

An opportunity:

• To be part of an international corporation, working in an international environment with high values and inclusion policies
• with high visibility, working directly with senior management and senior clients
• to join a small, relatively newly established yet highly regarded part of BRM operating in a friendly yet dynamic environment with low rotation
• for potential career path progression for the successful candidate
• to develop within BRM and beyond with multiple learning opportunities

Role

This is a relationship management and business development role reporting to the Head of EMEA Direct Lending & Private Debt, BRM.

The focus of this role is the assist in the management of the day to day relationships and marketing to prospective rating users both in the UK and across EMEA region.  The role will entail regular interaction with a variety of market participants throughout the EMEA region.

The principal objective of the team is to originate new, mostly private rating mandates from asset managers, institutional investors, banks and issuers across Corporate and Infrastructure Finance, both IG and sub-IG, as well as manage an existing book of business, through targeted outreach and client engagement with a broad range of debt market professionals.

This new and exciting position would suit an individual with existing market, CRA, leveraged finance or corporate credit experience that wishes to develop their career in a business development role with direct front line relationship management responsibilities and gain exposure to the dynamic, fast evolving and high profile area of private credit.

An important aspect of the role will be to raise the profile of the Fitch brand and capabilities in private credit through consistent marketing activities, initiatives and to generate ratings related business.

This role requires a broad appreciation and understanding of Corporate Finance and the functioning of Debt Capital Markets.  Experience and familiarity / specialty knowledge of Leveraged Finance, Infrastructure and Project Finance, Private Credit, CLOs and/or insurance regulation together with an appreciate of corporate credit analysis is advantageous.

Day to day responsibilities involve:

• Promoting the capabilities and use of Fitch Ratings to the Private Credit Market participants and generating new rating related business and revenues.

• Developing and growing the private rating book across the Corporates and infrastructure verticals

To a limited extent, the role also includes:-

• Marketing to and outreach to IG/Leveraged Finance law firms as influencers in the rating decision with a view to ensuring the legal community are supportive of the use of Fitch Ratings and that Fitch Ratings are referenced appropriately in various bond and loan documents;

• Developing new and existing relationships covering the leading EMEA HY Investors, primarily at but not limited to the Portfolio Manager level, with a view to garnering support and increasing advocacy for Fitch and the acceptance and use of Fitch Ratings;

Responsibilities (include but not limited to):

• Maintaining a target list of Investors and potential clients in pursuit of the strategy for marketing to Private Debt firms throughout the EMEA and co-ordinating all outreach and sales activity;
• Maintaining a tiering system of the most active legal advisors in European capital markets and law firm Partner mapping along with mapping of the HY Investors and Private Debt managers;
• Undertaking an active outreach programme to new and prospective mandating parties.
• Producing and maintain bespoke analysis and pitch book material for engagement with the various parties to promote Fitch and highlight the benefits of a Fitch rating;
• Engaging with corporate relationship managers and analytical colleagues on target and potential target names and engage / interact with senior legal contacts, HY portfolio managers and/or Private Debt managers during live mandate discussions;
• Building relationships with the various parties through criteria and sector teach-ins, and educating on the Sustainable Fitch ESG ratings offering;
• Supporting relationship development with senior lawyers who have direct influence over documentation and issuer/banker relationships, together with the larger and more active investors in the HY market in EMEA;
• Helping develop initiatives and joint events with top law firms or Private Debt firms, promoting Fitch participation as panel speakers;
• Working with industry bodies such as ICMA, AFME, LMA, ELFA etc. to promote Fitch Ratings;
• Identifying and developing new rating business opportunities across the private credit market.
• Ensuring client outreach is recorded and disseminated using the Salesforce system.
• Undertaking contract renewals and confidently initiate fee discussions and negotiations.

Skills Required:

The successful candidate will ideally have some experience of debt capital markets, with a working knowledge of the ratings process and understanding of leveraged finance, High Yield and/or Private Equity markets, ideally with a credit / market related background having worked in a rating agency, sell-side bank, and/or buy-side investor firm.

Additionally, the candidate should ideally have:

• an ability to establish a network of contacts throughout the banking, investor, and/or legal communities and the ability and confidence to develop relationships with senior/key decision makers and influencers
• an awareness of leveraged finance, debt capital markets, private markets and/or corporate M&A, covering IG and sub-IG transactions;
• experience of interacting with issuers and investors and the capability, personality and charisma to engage comfortably with market counterparts and to engender trust and two-way information flow and form relationships;
• an ability to effectively build relationships internally and capable of work collaboratively yet independently whilst being team orientated;
• an ability to develop relevant ideas and analysis to marketable outcomes;
• the motivation to deliver work of quality and consistency in a timely way
• a proven track record and ability to persuade and negotiate effectively with resistant counterparties.
• a demonstrable capability of originating new business and closing deals
• University degree, preferably in a business related discipline. Other professional or business qualification (e.g., relevant legal qualification, MBA) would be an advantage;
• strong command of Microsoft Suite (Word, Excel and PowerPoint) and knowledge of Fitch range of products, Bloomberg and Salesforce an advantage
• A willingness to undertake occasional travel.

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