Background: Freshman, Canadian University - 3.7 GPA - Still torn between IB and S&T.
So right now I'm working at a well regarded middle eastern investment bank, not in Dubai, and I'm basically rotating through their various departments including IBD,private equity, and direct investment. I'm still torn between trading and IB to be honest, it all comes down to long term career plans and I'm not sure if I want to be pigeonholed into trading - IB offers me various options but is hell to go through from what I've experienced atleast. Anyway, I have an opportunity to get another internship through family connections, I can basically choose the department and the choice is between IBD and Asset Management, I'm having a hard time choosing.
The question: Which of the two will look more impressive and get me interviews for either S&T and IBD, whichever route I choose. Asset mgmt can be beneficial in getting S&T but maybe IB can get me both?
Good problem to have I guess, but I need some clarification.
What type of asset management are we talking about here? If it's working for a no name individual financial advisor there's absolutely no question. You must take the IBD. If it's BB asset management, or well known hedge fund the choice is less clear. In my opinion though you've got to take the IBD internship to have good exit opps.
Asset Management department is comprised of:
* Client portfolios unit. * Managed funds unit. * Derivatives unit. * E-<span class="keyword_link"><a href="//www.wallstreetoasis.com/finance-dictionary/trading-overview">trading</a></span> unit.Currently ***** offers four types of client portfolios:
* Discretionary portfolios * Non-discretionary portfolios * Safe custody portfolios. * Leveraged portfoliosManaged Funds unit: Recently ***** launched two managed funds:
**** Local and GCC Fund The Fund aims at realizing long term capital gains and developing incomes by mainly investing in shares of companies listed or to be listed in the ******Stock Exchange as well as other GCC equities. In addition to investing in equities, the fund may also invest in money market tools while abiding by the restrictions mentioned in the articles of the association of the fund.
**** GCC Islamic Fund. The Fund aims at realizing long term capital benefits and developing incomes by mainly investing in shares of companies listed or to be listed in the **** Stock Exchange as well as other GCC markets , as well as investing in different short to medium term investments instruments. All funds investments shall be in compliance with the Sharia rules and regulations set forth by the Sharia board while abiding by the restrictions related to the investment and mentioned in the present Article of Association.
Fund advantages:
* Monthly liquidity * Investing in promising markets * Active strategies * Long term returnsIn a short period (December 2006 - December 2007), ***** has become a leader among market makers with respect to total trading value.
We have facilitated not only secure & direct market access to various financial instruments but also a reliable movement among multiple markets within a blink of an eye, using our state of the art trading platforms, **** Web-Trader & **** Meta Trader four "MT4".
ahh...so ur at Noor Financial Investment Co.
they're equally impressive, but if you've already done IB, you may as well try out AM and then make ur decision for full time from there.
I already will have something akin to asset management in my rotation - namely Investment research and advisory.
If you're at a ME bank doing PE/AM/IBD rotation as a freshman... you should, IMO, be setting your sights higher and be shooting for a PE position directly out of undergrad.... other option would be S&T, but maybe shoot for the prop side (although that may not even be part of investment banks by the time you graduate).
PE department was alright, my main assignments were looking at possible investments, spreading their financials on excel calculating the relevant ratio's, comparing those with the industry averages, and writing a report on my findings. I think the PE out of undergrad route is frowned upon though..and I'll be in Canada, I doubt prop trading will die off there.
PE out of undergrad is frowned upon because top firms don't really hire ugrads so that means going to smaller shop...however BX PE takes like 2 analysts a year--that's the job you should be targetting for PE out of UGRAD...though I dont know if they have that position in TO you might have to go to NYC or London
There are a few shops that do hire true analysts... Pegasus is one that comes to mind.
Right, no one has really answered my question though - for any route above Pr/S&T/IB - which internship should I take? IB or AM??
OK! I have a meeting with the chairman of the company (happens to be my dads friend), I was told I'd meet with him and tell him which department I want to work in and he would arrange it.
Need input! which department!
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