8/27/07

What is S&T?

Comments (19)

8/27/07

sales and trading, like the people that sell bonds/stocks to big investors/wealthy individuals or the different types of traders like floor traders or prop traders. some traders match up buyers and sellers (market makers) some make money for the firm off the spread (i think? the liars poker type traders... dont know what these are called)

8/27/07

prop traders

8/27/07

Thanks.

8/27/07

Is S&T part of an investment bank?

8/27/07

It's too bad this forum has been reduced to answering questions like what is sales and trading.

Especially bad when the question comes from someone with 207 bananas

8/27/07

hahahaha

8/28/07

Well hopefully AgreeWitMe is just using sarcasm, which would make sense given the ridiculous question asked in the first place.

I want to work now! No, really. I want those 100+ hours/week.

8/28/07

I find it funny that this question was asked in the IB forum.

8/28/07

Sales and trading is a more important part of revenue for most BBs. IBD is now only the second.

8/28/07

hahaha

8/28/07

Maintaining client relationships and getting clients to book their trades through your traders. Since all market makers(traders at BBs) offer essentially the same service, the sales team basically markets their bank an tries to sell clients on using a specific banks services. The sales guys are the frontmen put in front of clients, for which the traders book trades and make markets. There's more to it than that I'm sure, but that's a general overview.

8/28/07

dealing with clients casuse your autistic traders can barely hold a conversation

8/28/07
Batrick Pateman:

dealing with clients casuse your autistic traders can barely hold a conversation

Haha I'd just rather not have to speak to them casuse I can't be bothered.

Jack: They're all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard.
-30 Rock

8/28/07
Batrick Pateman:

dealing with clients casuse your autistic traders can barely hold a conversation

hahaha +1

You have to remember that IB S&T are designed to service clients, even though the traders may do a lot of prop. You need a client interface for these clients who handle relationships, pitch stuff, act as a liaison to traders etc. It may not be as simple sales as if you worked at a retail store, but you are still a salesman.

8/28/07

The sell side offers research and trading services. The sales guys are selling both and attempt to be the main point of contact for buy side analysts, PMs and traders.

They will also be the point of contact for IPOs, secondary equity offerings, etc. that originate out of the bank. Whenever there is a secondary equity offering announced, I immediately get about 6 calls from the sales guys whose banks are on the books.

In the end, it's just sales. Sales is effectively the same thing wherever you are working, whether that's a car dealer, an insurance company, or a bank.

8/28/07

Besides research and market making, they also sell structured products, or the service of tailoring a structured product to the clients needs.
I think the name is pretty self-explanatory. The sales of the S&T departments sells the services/products of the trading groups. Basically market making, research and structured products.

8/28/07
Bugs:

I know the trading arm investment banks seeks to generate capital by dabbling into the capital markets.

Classic.
It would be a little easier to define what salespeople do if you had a better idea what traders do as well. Most traders trade "flow," that is they and sell securities/derivatives for their clients and maintain an inventory or book to hedge themselves. The salespeople interact with institutional money managers and encourage them to do trades through their bank by suggesting trades and packaging deals, some of which the traders are trying to unload from their inventory.

8/28/07
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