Placed in ECM as a first year analyst and not loving it

Hi guys,

I am a first year ECM analyst with a BB firm in Asia. I was placed in this team 3 months ago when I joined the firm and now I'm hating what I'm doing everyday.

I was actually a SA with the same firm last year and I worked for both ECM and Corporate Derivatives back then. I loved what I did with Corporate Derivatives because I studied maths in school and I could use a lot of my knowledge in derivatives when I worked for the team. My colleagues in derivatives team also loved me because they can see I'm analytic and smarter than average. So when I was offered a full-time job, I took it for granted that I will be placed in derivatives, as the offer did not specify which team I would be in due to ongoing cost-cutting in the firm. 3 months ago when I finished my training, I was officially told I will be working with ECM instead of derivatives because of headcount reasons.

I guess ECM is not the worst team to be in but I just don't feel it's for me. Working in ECM is a lot less intellectually stimulating as I would like. What I do as a junior everyday is just recycling pitch books, doing market updates, running credentials, writing case studies, preparing internal memos, etc. Because I have worked with this team before, soon I feel like there is not much that interests me anymore at this stage, but I still have to do the boring and repetitive work as the most junior guy in the team. Sometimes a VP from derivatives team will try to loop me in some of his projects but it's hard for me to get deeply involved because after all I don't work for his team and cannot commit enough time for the project. I have talked to different managers about my situation but it doesn't look like I will get a solution from them anytime soon.

So I wonder what I can do about it. My original career plan was to learn as much as I can from the derivatives team and ultimately switch to a relevant role in a HF or a corporate. Sorry I haven't done enough research on what kind of relevant roles are out there but I believe there will be some. But if I'm stuck with ECM, I probably can work to VP level someday but I don't see myself enjoying the work nor will I be able to use my analytic skills which is my biggest strengths to stand out from my peers.

I came up with several solutions but none of them looks perfect:
1) Finish my first year in ECM and try again to switch to derivatives in the company (Problem: still have headcount limit)
2) Finish my first year in ECM and try to switch to another company (Problem: high risk in current job market and may be downgraded to first year)
3) Finish analyst program in ECM and go to BSchool then switch to derivatives or something else ( Problem: I will waste 3 years in ECM and BSchool is a huge investment which not really helps me as I'm already in finance)

So here I am looking for advice from you guys who are more experienced and know the industry better than I do. What could I possibly do under the circumstance? What should I plan for the next few years to reach my career goal? Are there any other career options I could consider which need ECM knowledge but essentially more analytic?
Thanks in advance.