Hi,
I applied to an internship with UniCredit's Structured Equity division yesterday and received an email today saying that they would like to interview me on Wednesday. I have gained some experienced in equity derivatives and converts but I want to stress that I am not some sort of derivatives god with mad programming skills.
This is what was in the pdf they attached:
Financing & Monetization:
Monetization: Client could (i) sell its equity stake (or its treasury shares) at current market level entering into a derivative contract to benefit in underlying’s upside or (ii) manage the whole disposal process directly through derivative solutions.
Financing: Client may consider to diversify funding sources and raise financing leveraging upon its equity stakes and/ or its Treasury Shares. Client could be interested in structured solutions that allow to (i) minimize funding cost or (ii) keep only a partial exposure to underlying performance.
Hedging: Client could protect the value of its equity stake against unexpected negative market movements through plain or more structured derivative solutions w/w-o the payment of an up-front premium.
Yield Enhancement: Client could decide to enhance the implied carry of its equity stake (i.e. due to no dividend payment) through the sale of plain vanilla call options.
Special Situations:
Stake Building: Client could be interested to (i) increase / build up an equity participation in a listed company or (ii) purchase its own shares through derivative based solutions.
Hedging Equity Stock Option Plan: Client could be interested in hedging the risks inherent in an equity stock option plan issued in favor of its employees/management.
Accounting, Regulatory, Tax Efficiency:
Structured Equity Solutions: Derivative based transactions at favorable conditions optimizing the efficiency of financing transactions.
Balance Sheet Management:
Active B/S Management: Generating economic and regulatory capital as an alternative or complementary to passive financial transactions and maximizing the return from initiatives in compliance with regulatory requirements from local regulators.
Has anyone got an idea of how I can prepare for more technical questions? Its not like I have any in-depth knowledge about regulations, taxes etc.
Overall, I am very happy to have gotten such a quick response since they actually ranked highly in the European equity-linked league tables.
anyone?
Does Unicredit still have an equity business? I thought they were trying to exit that area.
thats just the brokerage. their structured business has always been their strong side.
Is the interview for London with HR?
If it is just know about unicredits history, have a view on the market and a why s n t answer. I interned there last summer. Solid place.
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