Global Capital Markets Liability Management Associate New York

Global Capital Markets Associate

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.

Candidates should have:

• 35 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
• Experience with tender offers, exchange offers, consent solicitations, or other liability management transactions is strongly preferred
• 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

Expected base pay rates for the role will be between $150,000 and $225,000 per year for Associate, at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.

It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.

Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).