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Wasn't even aware AM divisions had 'traders' - are you one of the guys who takes orders from PMs and then chops it up to the various equity houses to execute? Or do you actually execute some of the trades in-house? Do you have discretion to make prop trades?
We perform both of the tasks you mentioned, some trades are chopped up and sent to other banks to be executed, we then trade most of the single stocks in-house.
sounds like FO to me, but it really depends on the strategy. Still BB AM is awesome and trading is quite cool.
it depends on the desk. There are MD level 'traders' in AM groups that also double up as portfolio managers, then have VP or associate level assistant traders that are more execution based and do not really come up with their own strategy. Some BB AM groups completely separate the PM and trader function and have no overlap.
But to directly answer the OPs question, all traders in BB AM groups are on the FO side.
Thanks for your reply Trailmix, from what I have witnessed there is not much overlap between PM and the trader's, the traders however do have a fair amount of input when informing the PM's of the right time to buy but as a general rule stick to the limits imposed by the PM.
Have you got any idea on what the comp would be?
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