Investment Banking Uncovered October 2011 Dave Rome Managing Director
Investment Banking Uncovered
Dave Rome
Managing Director
Head of Loan Markets UK
October 2011
Background
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Essex Boy
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Liverpool University, 2.1 BA Economics & Accounting – a long time ago
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Joined NatWest International Banking Division as a graduate in 1988
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Worked in UK, Japan, Taiwan and Hong Kong
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RBS takeover NatWest March 2000
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Head of Coverage Benelux & Switzerland 2001-2005
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Joined Loan Markets 2005
In Loan Markets we structure, arrange, underwrite and distribute syndicated loans for UK Corporates for acquisition and general corporate purposes
GBM’s Role in Bringing Together Clients and Investors
GBM
Clients
GBM banking GBM markets
Corporate and FIG coverage
Equities
Origination
Corporate DCM and Risk solutions
FI DCM / FISF
Sector and
Corporate
Finance
Client
Management
Origination
Syndicate
GBM Operations
Sales
Trading
Research and strategy
Distribution
Investors
What Global Banking Originators do
Origination
Relationship
Building
Distribution
Client pitches
Beauty parades
Market
Coverage
Peer Group
Benchmarking
Pricing Documentation Roadshows
Investor contact
Best deal for client
Constant dialogue with clients
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Pitching
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Indicative pricing and market commentary
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Execution
Development of a diverse skill-set
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Analysis of market trends (historical and current)
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Presentation skills
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Ability to work across teams
Day to day job
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Pricing analysis
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Continuous interaction with the market
– new issues, market trends, demand drivers, rumours
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Client presentations/meetings pitching for business
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Transaction facilitation including deal roadshows/investor due diligence
Deals – Why The Job is so Rewarding
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£100m – US$45bn
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Acquisitions announced – you helped make it happen
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Project X – Equity/Debt/Foreign Exchange/Interest Rate Management
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Advising on the purchase of a steel plant in North East England by Thai
Company
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Helping the TMT/Housebuilding/Real Estate/Construction sector
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A variety of deals - the familiar to the unfamiliar
RELATIONSHIPS RELATIONSHIPS RELATIONSHIPS
BUT – no two deals/weeks/months/years are ever the same!
....The Pros & Cons
Fast paced, exciting and in the public eye
Constantly changing
Challenging
Atmosphere
Diverse
Financial rewards
Client entertainment
The world is your oyster!
Hours
Stress
Historically male dominated but changing
"To me, the team aspect is what matters most, especially in the beginning. It is great to be part of a team of experienced professionals who take the time to explain and discuss relevant issues with you.
That team support is important as from day one there is a lot of responsibility and client contact on the job, be it in client meetings or with credit facilities. And with this support, discussing financing issues with FTSE 100 companies becomes "just another great part of the Job"
What Qualities Do You Need?
DEPENDS ON WHO YOU ASK?
Key Attributes For Life (as a Graduate) in The City
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Pro-active attitude
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Team Player
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A genuine interest in current affairs & economics
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Lots of energy & enthusiasm
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Ability to work under pressure
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Ability to manage time effectively
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Ability to multi-task
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Outgoing, confident personality
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Comfortable working with numbers
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...an engaging personality!
Investment Banking – Uncovered?
Hard Work, Challenging, Rewarding but not Rocket Science....
If possible, get an Internship
Proof of working in a team and leadership are key
Pro-activity – sells yourself straight away
Background reading and knowledge – genuine interest!
Be yourself – but find the bank and division which suits you!
