Leveraged Finance Research – Associate Director (Leveraged Finance)

Location: London, United Kingdom

Company

M&G is an asset management and insurance organization providing savings, investment, and long-term financial solutions.

What you will do

• Evaluate new and existing leveraged loan, direct lending, and private credit investments, assessing financial performance, capital structures, credit quality, and risk.
• Research companies and sectors, review due-diligence materials, assess ESG considerations, and attend management meetings and presentations.
• Build and maintain financial models covering historical performance, forecasts, sensitivities, liquidity, debt capacity, leverage, and covenant headroom.
• Prepare written investment submissions, present recommendations to credit committees, respond to challenge, and review legal documentation.
• Monitor existing investments, provide credit-event updates, and make evidence-based purchase, hold, or sell recommendations.
• Build relationships across investment teams, support and train junior colleagues, improve research quality and risk management, and comply with applicable policies and regulatory requirements.

Requirements

• Demonstrable experience in leveraged finance, high-yield corporate credit, direct lending, or a closely related investment discipline.
• Deep knowledge of sponsor-backed corporate credit and capital structures across multiple sectors and jurisdictions, including leveraged loans, high-yield bonds, and private credit instruments.
• Ability to convert complex financial and qualitative information into concise, evidence-based recommendations.
• Strong understanding of credit agreements, bond indentures, covenant packages, security structures, intercreditor terms, and restructuring or recovery mechanics.
• Strong stakeholder management skills and the ability to influence through expertise and insight.
• Excellent written and verbal communication skills, including presenting analysis and responding to challenge.
• Ability to work independently, use initiative, and exercise sound judgement within established investment and control frameworks.
• Strong organisation and prioritisation skills, flexibility in changing market conditions, and a collaborative approach across investment teams and business areas.
• Advanced skills in Excel, Bloomberg, AI, and relevant corporate-credit research platforms.

Culture & Benefits

• Flexible working arrangements and workplace adjustments are available.
• Inclusive culture supported by employee-led networks, development opportunities, and reasonable adjustments during recruitment.
• UK pension scheme of up to 18%, including up to 13% employer contributions.
• Share Save and Share Incentive Plan, financial wellbeing support, private healthcare, critical illness cover, and life assurance.
• 38 days of annual leave including bank holidays, with the option to purchase up to five additional days.
• Paid parental leave and family support covering maternity, adoption, surrogacy, and paternity leave.