Cross Product Sales groups- opinions?
Hey guys, I was just wondering what your opinion might be on cross-product sales groups. All the banks have different names but I am talking about the sales guys whole sell all products..
My initial thought is that it is very cool and you would develop a good understanding of the entire market and lots of products.
Downside would be that you specialize in none.
**I have also heard that this position can make you very valuable to a bank as you have very unique relationships with clients and cannot necessarily be easily replaced or fired because you are so unique.
Interested to hear any thoughts.
I'd say typically one thing worth baring in mind is that these groups often cover smaller funds who don't trade enough to merit having specific coverage in each asset class. Aside from that, it's quite a broad range of experience, and you'll find that the guys on those desks will come from a variety of backgrounds within the bank.
^^^Ahh i see, thanks for the comment.
I just thought it was for PM's who didnt want to deal with a bunch of different salesmen. But now that you said it, it makes sense because usually a bigger fund would have specialized product funds where one PM wouldnt need access to so many asset classes at once, while at a smaller multi-strat fund one Pm would be running the whole show and need access to everything.
Thanks
it different if you are on the liability side, ie sales to corporates, where you work with the largest companies generally
A question about this:
Perhaps this is naive, but it seems like corporates would really only be doing FX hedging and rates swaps. Do corps buy stocks and bonds?
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