What are the different desks at your bank?

Wondering if someone could chime in on the different desks that their bank has and what might be an example of a type of transaction that might go on for the desk. Trying to learn a little about what different desks are out there and what kind of clients you might have.

For example:

Cash Equities: A Large hedge fund calls you up and says they want to sell their 1 BN position in company XXX?

Interest Rate Derivatives: A large mutual fund calls you and says they need to hedge for interest rate risk for an insurance company they have invested in?

Any insight would be great.

 

So I assume you're only looking at Equities?

The answer to your main question is simple: the best way to learn about these desks is to go visit. Email one of your contacts at the banks (preferably an alum), tell them you want to check out some desks, and hopefully they should be able to set you up for a day of desk visits. The most important thing for any desk is the people, not the product. This is good advice for your case, because it seems from the way you listed basically every desk in equities that you have no idea what you want to do.

Also: no, you don't have to be a math genius by any standard to do structuring, though you should be comfortable with quick, basic math for S&T in general. Prime brokerage handles stock lending and other services for institutional clients. But seriously - Wikipedia that shit.

 

Hi, Thanks for your reply. I did wikipedia, and read alot on everything. Trust me, I had to have certain kind of knowledge to land that offer ( months of reading researching and networking). However, choosing a desk is a totally different story since I never trade before. right now at the moment I am interested in derivatives trading, but how can i know that the desk is suitable for me? I lived far away frm NYC so it might be possible for me to go and have a tour before the internship starts. I am reaching out and talking to many people at the firm to get a sense of what they are like. I hope that this is enough? So for you traders out there, why did you choose your product? How did your interest spark start? Are there any good books you recommend to know more about your products? THanks

 

LOOOOL, would love to see how the results come in.

I think as a whole, the bigger banks (BB's, global banks), its more spread out across the board. MM's and EB's seem to have more Caucasian males. (can't confirm as a whole, but my buddy works within the global industrials group at a MM, and he told me it was like a frat house.)

There's a closer meaning to my user name. Try reading it quickly. Perhaps you will then understand ;P
 

I get that impression too. I think in BBs, white men are kinda overrepresented and Asian men are WAY overrepresented. MMs and the buy-side overall tend to white men way overrepresented.

Broken down by numbers here's a rough guess: General population= 33% white men, 3% Asian men (both Indian and East Asian) BBs=50% white men, 25% Asian men MMs, Buy-Side, boutiques=85% white men, 10% Asian men

 

agreed with Jimbo. generally (cash) equity, fx, bond sales tend to be those with the highest proclivity towards partying, outgoing personalities etc..

same with some (cash) traders or vanilla rates etc. these also tend to get pissed off with greater ease. tough to work under them likely.

exotics people, being more quantitative etc tend to be calmer and less prone to partying..geekier.

 

I'm in the same position. I have several contacts through family connections in trading, but am more interested in corporate finance/M&A. Can anyone provide insight on this?

 

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