Tartan Careers - Hale Liberman
Sport: Men's Soccer
Class Year 20-21: Junior
Major: Business Administration
Internship Year, Title, and Company
Summer 2020, Investment Banking Summer Analyst, Hovde Group
Application process: Cold emailed the D.C. office of the firm in December, accepted the internship offer in early January
Why did this internship interest you: I want to work at a large, global investment banking firm (working with large cap companies) after graduation, and I wanted to find an internship that would prepare me to work at one of these companies. As a specialty finance focused middle market investment bank with a small team, Hovde was the perfect place for me to practice these skills on a smaller scale before next summer. The company's location in D.C. also allowed me to live at home for one last summer.
How did you complete the internship - remotely or on-site: I completed my internship remotely.
Description of internship: I worked as part of a five-person group which focused on executing capital raises and sell-side engagements (selling the company) for specialty finance companies (Hovde Group, headquartered in Chicago, focuses on working with commercial banks while the five person team in the D.C. office works with specialty finance companies). During my internship, I worked on nearly 10 deals including debt and equity raises as well as equity sales of/for commercial and consumer lenders specializing in asset-based lending, factoring, SBA lending, floor plan financing, and home equity and boat financing as well as a number of other things. On each deal, the group's analyst, VP, and I would be paired with either the specialty finance managing director or director to create a deal team. Our deal teams prepared marketing materials and presented our deals to potential buyers/investors/lenders, facilitating the sale/capital raise processes through the completion of the due diligence stage.
How it could have been different if not remote: I was able to work pretty well remotely because our team was so small and it was easy to communicate with everyone over text/email/phone. I do think that I would have been able to learn more and learn faster if we had been in person, and I also would have enjoyed being in the office and hanging out with the team of guys I worked with.
How did this internship shape your next move: I learned a ton this summer and I think I am much better prepared for my internship next summer when I begin working with larger companies across a range of industries and geographies at Greenhill & Co.