What do you do in the "Insitutional clients - Debt sales" division?
I am doing an internship at a large European investment bank in the "Instiutional cllients - debt sales" division.
My background is in mathematics, with some lectures on derivative pricing. I do not consider myself to be particularly well-informed about investment banking, so I guess they accepted me based on my personality and other skills.
If anybody could explain to me which products and which clients this division likely deals with, I could prepare a bit and read about the relevant products, concepts, jargon, etc.
Of course in the interviews I asked about the role and its requirements, but I did not get a satisfactory answer.
I could imagine that you sell fixed income instruments (bonds, bond derivatives?) to funds, insurance companies and other insitutional investors?
Would you also sell bond-like instruments to industrial firms? (This is the only example that came up in the interviews.)
Would you also trade in these instruments in the sense of market-making?
So if you know anything that might clarifiy my potential role in this area of banking, I would gladly hear about it.