Credit Analyst

mgpru; Greater London; Hybrid; GBP 90,000 - 130,000; Full time

Benefits offered by this job

Pension scheme up to 18%

Share Save and Share Incentive Plan

38 days annual leave + option to buy 5

Job summary

M&G is seeking an experienced Credit Analyst to join the Global Credit Research team in London, focusing on European Utilities, Power and Infrastructure sectors. You will conduct rigorous fundamental analysis, build models and generate actionable investment ideas to support portfolio performance.

You will collaborate with portfolio managers, traders and analysts, mentor junior staff, and contribute to investment committee discussions, applying strong analytical and communication skills in a

Qualifications

• Extensive experience conducting credit research in asset management or similar investment organization.
• Direct experience covering Utilities and Power credits with understanding of regulatory and financial drivers.
• Strong financial statement analysis, modelling and cash-flow forecasting skills.
• Excellent written and verbal communication abilities to articulate complex views.
• Bachelor's degree required; CFA designation preferred; MBA/ACA/CPA helpful.

Responsibilities

• Lead fundamental credit research on European Utilities, Power, and Infrastructure issuers (Investment Grade and High Yield).
• Develop independent assessments of issuers' credit quality considering business models, financials, capital structures and liquidity.
• Analyse relative value to form investment views and generate trade ideas.
• Build and maintain detailed financial models and forecasts.
• Produce research reports and investment recommendations for portfolio managers and the team.
• Collaborate with portfolio managers, traders and analysts; mentor junior analysts.

Skills

Credit research

Utilities & Power sectors

Financial modelling

Cash-flow forecasting

Relative value analysis

Strong communication

Independent working

Education

Bachelor's degree required

CFA designation preferred

Tools

Excel

PowerPoint

Job description

At M&G, our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.

Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.

Through telling it like it is, owning it now and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

We will consider flexible working arrangements for any of our roles and offer workplace adjustments to ensure you have the support you need to succeed in your role.

The Role

We are looking for an experienced Credit Analyst to join our Global Credit Research team and take a lead role in covering the European Utilities, Power, and related Infrastructure sectors. Based in London, the analyst will apply deep sector expertise to conduct rigorous fundamental analysis, generate actionable investment ideas and contribute to portfolio performance.

The role offers broad exposure across Investment Grade and High Yield markets in these important fixed income sectors, and close partnership with portfolio managers, traders and other analysts across our global platform. It also provides the opportunity to influence team thinking, mentor developing analysts, and contribute beyond individual issuer coverage. Success in the role requires strong analytical and communication skills, intellectual curiosity, sound judgement, and a collaborative approach to investing.

Key Responsibilities

• Lead fundamental credit research on companies primarily within the European Utilities, Power, and Infrastructure sectors, covering both Investment Grade and High Yield issuers.
• Develop and maintain independent assessments of issuers' credit quality, reflecting their business models, financial performance, capital structures, liquidity, regulatory environment, and key risks.
• Analyse relative value across covered issuers to form actionable investment views, including new-issue market recommendations and secondary market trade ideas.
• Build and maintain detailed financial models and forecasts to evaluate creditworthiness under a range of operating and market scenarios.
• Produce clear, concise and timely research reports, investment recommendations, and sector updates for portfolio managers and the broader investment team.
• Serve as a sector resource for the broader investment team and contribute to investment committee discussions, collaborating with colleagues across investment, risk, and trading teams.
• Support and mentor junior analysts.

Knowledge, Skills & Experience

• Extensive experience conducting credit research within an asset manager, hedge fund, credit fund, rating agency, investment bank, or similar investment organisation.
• Direct experience covering Utilities and Power credits is required, with a strong understanding of the sector's regulatory, operational, and financial drivers. Experience in High Yield analysis and is preferred.
• A track record of rigorous fundamental credit analysis, including financial statement analysis, modelling and cash-flow forecasting, corporate valuation, capital structure assessment, liquidity analysis and downside-risk evaluation.
• Strong relative value skills and understanding of credit markets, with the ability to compare covered issuers and securities, identify pricing dislocations, and generate actionable primary- and secondary-market trade recommendations.
• Excellent written and verbal communication skills with the ability to articulate complex investment views clearly, concisely and persuasively.
• Ability to work independently, exercise sound judgment, and thrive within a collaborative global investment team.
• Bachelor's degree required; CFA designation strongly preferred. MBA, Master's degree, ACA, CPA, or other advanced qualifications are also helpful.
• A demonstrated passion for investing and a commitment to continuous learning.

Recruiter: Hannah Curtis

Work Level: Manager or Expert

What we offer:

• A valuable pension scheme of up to 18% (13% made up of employer contributions and 5% employee contributions).
• Access to our Share Save and Share Incentive Plan, alongside financial wellbeing and support services to help give you real confidence to put your money to work.
• Enjoy 38 days annual leave (including bank holidays), with the opportunity to purchase up to five extra days.