Credit Analyst

M&G FA Limited; Greater London; On-site; GBP 90,000 - 140,000; Full time

Benefits offered by this job

Pension up to 18%

Share Save Plan

Annual leave 38 days

Flexible time off

Parental leave policy

Private healthcare

Job summary

M&G in London is seeking an experienced Credit Analyst to join Global Credit Research, leading coverage of European Utilities, Power and related Infrastructure sectors. The analyst will conduct rigorous fundamental analysis and generate actionable investment ideas across Investment Grade and High Yield, collaborating with portfolio managers, traders and other analysts on our global platform.

The role offers broad exposure, mentoring of junior analysts, and the opportunity to influence team

Qualifications

• Extensive experience conducting credit research in asset management or related institutions.

Responsibilities

• Lead fundamental credit research on European Utilities, Power and Infrastructure issuers (IG and HY).
• Develop independent issuer credit quality assessments reflecting business models, financial performance, capital structures, liquidity and regulatory factors.
• Analyse relative value to form actionable investment views and trade ideas.
• Build and maintain financial models and forecasts to evaluate creditworthiness under various scenarios.
• Produce clear research reports and investment recommendations for portfolio managers and investment teams.
• Mentor junior analysts and contribute to investment committee discussions.

Skills

Credit research

Utilities & Power

High Yield analysis

Financial modelling

Cash-flow forecasting

Valuation

Credit markets

Communication skills

Independent worker

Bachelor's degree

Education

Bachelor's degree

CFA designation preferred

MBA or Master’s degree

ACA/CPA helpful

Job description

About M&G

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

Recruiter: Hannah Curtis Work Level: Manager or Expert

What we offer

We’re dedicated to supporting your wellbeing and helping you thrive, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, and financially plan for the future.

• 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.
• Our Time Off When You Need It policy gives you the flexibility - to balance work and personal commitments.
• Our market-leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - because supporting families is an important part of our inclusive culture.
• Health & Protection cover includes Private Healthcare, Critical Illness cover and Life Assurance for you, with additional family options - for peace of mind.

To explore more about life at M&G and our full benefits offering, visit Life at M&G

M&G we strive to have a diverse workforce and an inclusive culture, underpinned by our policies and employee-led networks that offer networking, support and development opportunities for the diverse communities our colleagues represent. We welcome applications from people of all backgrounds – across gender, ethnicity, age, disability, sexual orientation and more – including neurodivergent individuals, career returners and those with military service experience.

M&G is proud to be Level 3: Disability Confident Leader under the UK Government Disability Confident employer scheme, and we welcome applications from candidates with disabilities and long-term health conditions. If you would like to participate in the initiative, you will have the opportunity to indicate this on your application. We are committed to providing an inclusive recruitment process. All candidates have the opportunity to request reasonable adjustments when applying. If you need any additional support at any stage, please contact us at: [e-mail]

M&G is a leading international savings and investments business, managing money for around 4.6 million individual clients and more than 900 institutional clients in 38 offices worldwide. As at 31 December 2024, we had £345.9 billion of assets under management and administration. 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.