How to approach MD?

Hi guys,


My dad's long-time friend (known him since I was a kid) is a Coverage Head in a French Regional MM (BNP/Credit Agricole/SocGen/Natixis) in HK. Last met with him about 5 years ago when I was visiting HK. Since then, I've graduated from an Australian 'target' recently, decent GPA/WAM, and am currently working full-time at a micro-boutique doing ECM (super small team - no other analysts/associates/VP, very limited deal flow/training, etc.). Have some ok ECs (equity research case competitions) and done modelling courses which I can speak to. My Mandarin is likely an issue, I would estimate its at a Chinese primary kid's level (Aussie-born Chinese, HSK 4-5, can't read newspaper without a dictionary, etc.).


For the reasons mentioned above, I would like to move on from my current role. Hong Kong would be an ideal place for me due to the faster-paced nature and a bigger bank would provide greater deal flow/training. I had a cousin who worked in banking in HK previously and his experience consolidates my interest in following his footsteps (he worked at a BB and didn't speak Mandarin). Drawbacks are obviously my language & cultural abilities. 


Would appreciate any insight/suggestions as to:

  1. The best way I should approach him?
  • I'm thinking I should reach out and have an "informational interview" phone call with him about banking/HK, then make the soft ask at the end. I will be meeting him in July in-person again.
  1. How much Mandarin would be needed at a French regional MM in HK?
  • I've done some LinkedIn stalking and most of the analysts are from HK/China but have found one who appears to have grown up in North America.
  1. Preparation in advance of reaching out
  • In preparing to reach out, I assume I'd need to really know a) my story, b) why banking, c) why HK, d) why this bank (this one I struggle with, just give generic MM benefits?) and e) why I would be a good hire cold, but was there anything else I'm missing? I assume it'd be behavioural, at least at this initial outreach stage.
  1. Does he have enough pull to just hire me outright (overlook Mandarin abilities), assuming I meet his other requirements/fit?

Thanks for the help WSO!

 

They speak Cantonese in Hong Kong, not Mandarin.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 
Most Helpful

Feel free to PM.

I work the HK markets in a non-BB bank and know someone who works in one of the French banks you mentioned. I have also interviewed for one of them, but eventually didn't go through the process (I passed the interview).

1. Best way to approach:

Ask your Dad. This is your dad's long-time friend and you've known him as a kid. It's a very close tie and don't be afraid to pull strings here. Almost all companies who go public via HKEX are Chinese companies, and working in investment banking in China/HK = pulling strings. 

2. How much Mandarin would be needed (at a French regional MM) in HK?

Most of the time it's a requirement because when you pitch companies, you mainly pitch Chinese companies (see 2) even for cross-border transactions. Also, if you work in HK IB, 90% of the deals you do are probably Chinese companies' IPOs, unless you work at an EB or some very niche M&A bank like Rabobank who focuses on Sino-Dutch M&A (Rabobank people feel free to chime in). M&A deal flow is not huge in China, and most x-border M&A mandates are done by GS, JPM, CICC, CITICS, Huatai, HL, etc. Don't think French banks do a lot M&A deals. 

I personally known a couple of Europeans who only speak English working in HK IB. Mainly ECM teams because banks want them to talk to investors. 

If I were you, maybe ask about Chinese proficiency needed, how you can improve on that, and deals/clients the friend covers that don't need Mandarin. 

3. Yes.

If you want more color on those specific banks, feel free to PM. Not familiar with all of them, but some of them yes.

4. I think this is a yes.

If he is a coverage head, he has enough clout. My MD is also the coverage head for my bank, and when he wants to hire someone, he can. There will be some bureaucracy, and you cannot be a freaking idiot, and that's pretty much it. 

Persistency is Key
 

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