Credit Research Analyst, European Leveraged Loans and High Yield Bonds

We are seeking an experienced Credit Research Analyst to join our European Performing Credit Research team.The role will form part of our growing European CLO platform, which comprises a team with an average of 20 years’ relevant experience and boasts consistently top quartile performance from existing managed funds. 

We are a global financial services group operating in 30 markets with 57 years of unbroken profitability. At Macquarie, you’re empowered to shape a career that is fulfilling and creates value. You will bring your insights and expertise to the task at hand and feel supported as you make your own kind of impact for a better future.

What role will you play?

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You will take primary responsibility for a portfolio of approximately 40 leveraged loan and high yield issuers, conducting detailed fundamental credit analysis, monitoring issuer performance and relative value, and developing actionable primary and secondary market investment recommendations.

Reporting into the Head of Performing Credit Research in Europe, the position will involve close interaction with portfolio managers and research colleagues across the European and US leveraged credit platforms, as well as regular engagement with company management teams, financial sponsors, ratings agencies, sell-side analysts and underwriting banks.

In addition to portfolio and issuer coverage, you will lead the credit assessment of new leveraged loan and high yield transactions in the European market, as well as relevant cross-border US transactions, and will formulate clear investment theses and recommendations to the Investment Committee. 

What you offer

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• 7+ years’ relevant professional experience in leveraged finance, leveraged credit research, high yield research, CLO investing, credit opportunities, asset management, investment banking, private credit or a comparable field
• Proven ability to take primary responsibility for a portfolio of issuer credits and a track record of producing actionable investment recommendations rather than purely descriptive research 
• Demonstratable experience across both primary transactions and secondary market opportunities, ideally working across both European and US leveraged credit markets and with exposure to stressed, event-driven or complex credit situations 
• Advanced fundamental credit analysis, financial statement analysis and financial modelling skills, with a strong knowledge of relative value analysis across instruments and capital structures and the ability to assess business quality, capital structure sustainability and downside protection 
• A good understanding of leveraged loan documentation and high yield bond indentures, as well as CLO portfolio considerations and the role of credit selection within a diversified leveraged loan portfolio

We love hearing from anyone inspired to build a better future with us, if you're excited about the role or working at Macquarie we encourage you to apply.

What we offer

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At Macquarie, you’re empowered to shape a career that’s rewarding in all the ways that matter most to you. Macquarie employees can access a wide range of benefits which, depending on eligibility criteria, include:

• 1 wellbeing leave day per year and a minimum of 25 days of annual leave.
• 26 weeks’ paid parental leave for primary caregivers along with 12 days of paid transition leave upon return to work and 6 weeks’ paid leave for secondary caregivers
• Paid fertility leave for those undergoing or supporting fertility treatment
• 2 days of paid volunteer leave and donation matching
• Access to a wide range of salary sacrificing options
• Benefits and initiatives to support your physical, mental and financial wellbeing including, comprehensive medical and life insurance cover
• Access to our Employee Assistance Program, a robust behavioural health network with counselling and coaching services
• Access to a wide range of learning and development opportunities, including reimbursement for professional membership or subscription
• Access to company funded emergency and backup dependent care services
• Recognition and service awards
• Hybrid and flexible working arrangements, dependent on role
• Reimbursement for work from home equipment

About Macquarie Asset Management

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Macquarie Asset Management is a leading global asset manager, trusted by institutions, individuals and communities to responsibly manage $A720 billion in assets. MAM provides clients with a diverse range of investment solutions that seek to deliver superior risk-adjusted returns.

All figures as at 30 September 2025, excluding assets acquired by Nomura on 1 December 2025.

Inclusion at Macquarie

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We are committed to providing an inclusive environment for all, where different experiences, skills and perspectives are valued and respected. Macquarie provides access to opportunities for all individuals regardless of their identity, including age, disability, neurodiversity, gender (including gender identity or expression), sexual orientation, marriage or civil partnership, pregnancy, parental status, race (including ethnic or national origin), religion or belief, or socio-economic background.

We provide reasonable adjustments to individuals who may need support during the recruitment process and employment. If you require an adjustment, please let us know during the application process.