Debt Capital Markets (DCM) Liability Management

Deutsche Bank; London; Hybrid; GBP 50,000 - 70,000; Full time

Job summary

A leading international bank in London is seeking an Analyst for their Debt Capital Markets (DCM) team. The role involves supporting the origination of liability management transactions and performing detailed bond analysis. Ideal candidates will have prior experience on a DCM desk and strong Excel skills. This position offers a hybrid working model, competitive salary, and a comprehensive benefits package.

Benefits

Hybrid Working

30 days’ holiday plus bank holidays

Life Assurance and Private Healthcare

Flexible benefits package

Qualifications

• Previous experience on a DCM desk with exposure to Liability Management.
• Confidence questioning the status quo and implementing solutions.
• Strong ability to identify relevant products for clients.

Responsibilities

• Support the origination of liability management transactions.
• Perform fundamental analysis on bond pricing and calculations.
• Monitor industry-specific news and prepare client presentations.

Skills

Bond pricing expertise

Exceptional Excel skills

Communication skills

Interpersonal skills

Analysis of macro-environment

Tools

Bloomberg

Job description

Job Description:

Job Title Debt Capital Markets (DCM) Liability Management

Location London

Corporate Title Analyst

DCM Europe, the Middle East & Africa (EMEA) is responsible for originating debt financing solutions, for High Yield (HY), Investment Grade (IG) and Emerging Market (EM) issuers, across the corporate, financial institution, Sovereign, Supranational and Agency (SSA) sectors. The desk covers the complete suite of debt products ranging from structured notes to public bonds (such as senior unsecured, hybrid, covered, and regulatory capital instruments) including those with tailored covenants.

Your desk, a sub-desk of DCM EMEA, will undertake liability management exercises including bond buybacks, exchange offers and amendments to bond terms and conditions (consents), on behalf of issuers.

What we’ll offer you

A healthy, engaged and well-supported workforce are better equipped to do their best work and, more importantly, enjoy their lives inside and outside the workplace. That’s why we are committed to providing an environment with your development and wellbeing at its centre.

You can expect:

• Hybrid Working - we understand that employee expectations and preferences are changing. We have implemented a model that enables eligible employees to work remotely for a part of their working time and reach a working pattern that works for them
• Competitive salary and non-contributory pension
• 30 days’ holiday plus bank holidays, with the option to purchase additional days
• Life Assurance and Private Healthcare for you and your family
• A range of flexible benefits including Retail Discounts, a Bike4Work scheme and Gym benefits
• The opportunity to support a wide ranging CSR programme + 2 days’ volunteering leave per year

Your key responsibilities

• Responsibility for supporting the origination (generating new trade opportunities) and execution of liability management transactions and providing debt capital markets expertise to clients across the region
• Performing fundamental analysis focussed on bond pricing and calculations targeted towards debt tenders and exchanges
• Monitoring and analysing industry-specific and client-specific news; preparing and reviewing client presentations; reviewing legal documentation, conducting financial market analysis and data collection/tracking
• Frequent interaction with all areas of Deutsche Bank, including Debt Syndicate, Sales & Trading, the Risk Management Solutions team in the Corporate Bank, Mergers & Acquisitions and Investment Banking Coverage (IBC) and Regional Management, in addition to infrastructure areas including legal and compliance
• The role requires experience in marketing, originating, structuring and executing capital market offerings with clients in the region

Your skills and experience

• Previous experience on a DCM desk. Ideally exposure to Liability Management deal flow.
• Exceptional skills using Bloomberg, and Excel, especially with respect to bond pricing, as well as an array of conventional DCM market data sources to efficiently analyse information and prepare high quality content for issuers
• Confidence questioning the status quo and existing processes, coupled with the ability to design and implement high quality solutions and idea generation, for which prior experience with similar clients would be highly additive
• Strong awareness of the macro-environment and political developments
• Strong communication and interpersonal skills essential to form strong relationships with clients and colleagues
• Ability to identify products which are relevant for your client and to articulate the implications and strategic considerations in a clear and concise matter

How we’ll support you

• Training and development to help you excel in your career
• A range of flexible benefits that you can tailor to suit your needs
• We value diversity and as an equal opportunities’ employer, we make reasonable adjustments for those with a disability such as the provision of assistive equipment if required (e.g. screen readers, assistive hearing devices, adapted keyboards)

About us

Deutsche Bank is the leading German bank with strong European roots and a global network. Click here to see what we do.

Deutsche Bank in the UK is proud to have been named The Times Top 50 Employers for Gender Equality 2025 for six consecutive years. Additionally, we have been awarded a Gold Award from Stonewall and named in their Top 100 Employers 2024 for our work supporting LGBTQ+ inclusion.

We strive for a culture in which we are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively.

Together we share and celebrate the successes of our people. Together we are Deutsche Bank Group.

We welcome applications from all people and promote a positive, fair and inclusive work environment.