More work, less money

Leveraged finance bankers are increasingly turning their hand to restructuring. It’s a natural transition from building up companies in the boom to rationalising them in the bust. But those facing the switch shouldn’t be gearing up their lifestyles just yet. They will soon discover that restructuring will be both more work and less financially rewarding than boomtime deal-making. An investment bank’s role in restructuring a troubled company can be enormously varied – from a simple renegotiation ...