Global Capital Markets Liability Management Associate – New York
About The Position
When clients need capital, Global Capital Markets (GCM) responds with market judgments and ingenuity. Whether executing an IPO, a debt offering or a leveraged buyout, GCM integrates Morgan Stanley’s expertise in Sales and Trading and Investment Banking, offering clients seamless advice and sophisticated solutions. GCM originates, structures and executes public and private placement of equities, investment-grade and noninvestment-grade debt and related products. The group provides fresh ideas and broad distribution to help clients get the most out of each stage of a transaction and continually develops capital markets solutions to enable clients to mitigate strategic, operational, credit and market risks. The Liability Management team advises corporate clients on a wide range of balance sheet optimization and capital structure initiatives. We are deeply involved in complex, high-impact transactions and strategic discussions, working at the intersection of capital markets, M&A, and corporate finance. This role offers significant exposure to senior client executives, internal product partners, and cross-divisional collaboration. Associates on the Liability Management team play a central role in the origination, structuring, and execution of transactions, including: Tender offers, exchange offers, and consent solicitations across investment grade, high yield and emerging markets Structuring and executing liability management exercises designed to optimize capital structure, extend maturities, reduce interest expense, and enhance financial flexibility Advising clients in connection with strategic M&A and Spin transactions, including indenture amendments, obligor exchange offers, and other capital structure solutions to achieve efficient post-close capital structures Partnering closely with Sales & Trading to execute open market repurchase programs on behalf of corporate clients Coordinating cross-functionally with Debt Capital Markets, Leveraged Finance, M&A, Ratings Advisory, Legal, and other product groups Preparing detailed financial models, transaction analyses, and client presentation materials Managing transaction processes, timelines, documentation, and due diligence Associates are expected to take on meaningful responsibility in client communications and internal strategy discussions from early in their tenure.
Requirements
- 3–5 years of relevant experience in investment banking, capital markets, leveraged finance, restructuring, or a related field
- Strong understanding of fixed income markets, debt documentation, and capital structure dynamics
- Demonstrated interest in strategic finance and M&A-related capital structure advisory
- Advanced financial modeling and analytical skills
- Excellent written and verbal communication skills
- Ability to manage multiple workstreams in a fast-paced environment
Nice To Haves
- Experience with tender offers, exchange offers, consent solicitations, or other liability management transactions is strongly preferred
Responsibilities
- Origination, structuring, and execution of transactions, including: Tender offers, exchange offers, and consent solicitations across investment grade, high yield and emerging markets
- Structuring and executing liability management exercises designed to optimize capital structure, extend maturities, reduce interest expense, and enhance financial flexibility
- Advising clients in connection with strategic M&A and Spin transactions, including indenture amendments, obligor exchange offers, and other capital structure solutions to achieve efficient post-close capital structures
- Partnering closely with Sales & Trading to execute open market repurchase programs on behalf of corporate clients
- Coordinating cross-functionally with Debt Capital Markets, Leveraged Finance, M&A, Ratings Advisory, Legal, and other product groups
- Preparing detailed financial models, transaction analyses, and client presentation materials
- Managing transaction processes, timelines, documentation, and due diligence
- Client communications and internal strategy discussions
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
