Paridhi Garg

Fundamental credit analyst specializing in

• Bank capital structure and unsecured debt with focus on bond specific features and associated risks for newer asset classes like senior non preferred (SNP) and AT1 debt.
• Understanding of banking regulations such as Basel III/IV Reforms, TLAC/MREL requirements, BRRD (Banks Regulatory Resolution Directive) and CRDIV/V (Capital Requirement Directive) and their implications on European banking sector.

Key tasks include:

• Assisting the lead analyst with single name coverage and publishing investment thesis.
• Being primarily responsible for broader sector reports viz. supply forecasts, quarterly supply updates, earning reviews and first look commentary.
• Currently working on various topical projects covering banks’ understanding and preparedness for growing ESG disclosures.
• Tracking market news to analyze macro events, rating or regulatory changes.
• Modeling financial data and independently catering to related requests from institutional clients, money managers and traders.
• Generating trade ideas based on spread performance and bank’s fundamentals as per the risks involved.

Credit research analyst covering financials at Morgan Stanley.

• Wrote detailed reports on levels of distributable items that affect AT1 coupon payments and dividends of a bank in Europe.
• Key responsibilities included maintaining and updating bond performance, supply and trade idea databases.
• Worked with Jackie Ineke, Managing Director European Banks Credit at Morgan Stanley for over 2 years.

• Broad secondary research of the Insurance sector in India, the various insurance products in the market, the competitive landscape, learnt financial modeling for insurance companies and provided general team support.