PGIM Fixed Income

PGIM Fixed Income | Distressed Credit Associate

Based in London |

A GLOBAL LEADING ASSET MANAGER WITH A DIVERSE & INCLUSIVE CULTURE

As the Global Asset Management business of Prudential, we’re always looking for ways to improve financial services. We’re passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world.

We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading global asset managers! 

If you’re not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that’s investing in your future by shaping tomorrow today.

At PGIM, You Can!

What you will do:

This is a new and exciting opportunity for an Distressed Credit Associate  to join the European leverage finance team in PGIM Fixed Income’s London office.  The Associate will work alongside the Senior Distressed Credit Situations Analysts and support them to (i) analyse, monitor and identify stressed/distressed credit investments across the European leverage finance corporate sectors and (ii) support the execution of financial restructurings. The Associate will contribute to developing  recommendations for Sector Portfolio Managers on positioning of individual credits within performing and opportunistic client portfolios. Recommendations will be based on fundamental financial and valuation analysis as well as legal structure and documentation considerations. Strong and proven financial modelling skills, a robust knowledge of accounting concepts and a basic understanding of High Yield credit documentation as well as analytical rigour together with attention to detail are key requirements.

What you can expect:  

• Diligence stressed/distressed investment opportunities and independently prepare financial and valuation analysis as well as undertake a basic review of legal documentation and structure
• Monitor the development of stressed/distressed credits within existing portfolios and the European high yield market generally
• Interacting with high yield sector analysts to support or transition coverage of stressed/distressed situations
• Interacting with internal legal and operations teams to support the execution of  restructuring transactions

What you will bring:

• Bachelor’s degree required, MBA (or equivalent) or CFA preferred
• Associate-level experience with exposure to credit analysis at an investment management, financial or restructuring advisory firm. Experience with distressed investments beneficial.
• Strong financial modelling skills, robust knowledge of accounting concepts and a basic understanding of High Yield credit documentation
• Attention to detail, analytical rigour and ability to work independently in a fast-paced environment
• Strong critical thinking and logic skills
• Maintains high level of productivity and self-direction
• Excellent communication skills. Proficiency in a European language in addition to English beneficial

*We know not everyone will meet 100% of the requirements, however we encourage you to apply if you think your skills are a good fit for this role.

What we offer you:

• Private Medical Insurance: PGIM offers private medical insurance and pays the full premium on behalf of all employees.
• Annual Leave of 25 to 28 days, based on years of service, at full pay.
• Retirement Savings Plan: Employees receive a company contribution of 10% basic annual salary and a maximum employer-matching contribution of 5% of basic annual salary.
• Life Assurance & Income Protection: Life Assurance for 12 times you basic annual salary, up to a max benefit of £1.8million. 60% of your basic annual salary for a limited payment terms of 5 years, at the end of which a capital sum of 2x your basic annual salary is payable.
• To find out more about our Total Reward package, visit https://youtu.be/acuhcv46Nz0

About PGIM Fixed Income

PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. Our business climate is a safe inclusive environment, centred around mutual respect, intellectual honesty, transparency, and teamwork. Our leaders are focused on talent & culture; dedicated to fostering growth & development at all levels to develop the industry leaders of tomorrow.

Prudential Financial, Inc. is focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential. For more information, please visit PGIM Fixed Income

About PGIM – Global Asset Management
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with nearly US$1.2 trillion in assets under management as of 30th December,2022. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives.

With a history dating back almost 145 years, and experience through more than 30 market cycles, PGIM takes a long-term view, not only in our investment philosophy, but also in how we develop our talent. We want to see our employees excel from their first day with the firm and throughout their tenure with PGIM. We will inspire you, support you, and help you reach your greatest personal and professional aspirations. If PGIM sounds like the place for you, join us. For more information about PGIM, visit PGIM.com