Chicago Investment Banking and Finance Interview Collection - Blackrock, Marathon Investment Banking
Marathon Chicago Investment Banking – Analyst
What are the three financial statements and how do they link together
Easy
Walk me through a DCF of an airline company?
Easy, standard DCF process
Can mention the difficulty of projecting the revenue generated out of each route
Would WACC be higher levered or unlevered?
WACC is higher unlevered
Can also say WACC becomes higher levered if too much debt/close to distressed situation
Broadhaven Capital Partners Chicago Investment Banking – Analyst
Pitch me a stock
Don’t use food companies as examples, since mostly low growth so does not get people excited
Tech is probably better
What is one M&A deal you have been looking at recently?
Make sure you know how the synergies would be realized, i.e. consolidation of bank branches, etc.
What happens to all FS when depreciation increases by 10?
M&I
Optum Corporate Development – Analyst
Walk me though a DCF
Easy
Why would a company do an M&A deal?
P/E of buyer is higher, mention financing mix and synergies
Only if accretive to EPS
Can also say because of expansion needs, potentially lowers WACC, expanded distribution and product lines,…
Interest in Minnesota?
Mention sports teams like Timberwolves, young team with a budding star so fun to watch
Naturally adventurous
Blackrock Institutional Client Businesses (Official Institutions Group) New York – Analyst
What do you know about Blackrock?
Tell me about Blackrock’s Bond ETFs?
Money flows increased to ETFs due to Bill Gross departure from PIMCO
Mentioned performance of Treasury bonds ETF
Resume more suited for investment banking and equity research? Why investments/asset management?
Do you see yourself as an investor or lead account manager?
A bit of both—exciting to be actively involved in the markets as an investor but love the client facing role
