What desk should I choose at TD Securities?
Hi I just got a S&T summer intern at TD Securities, the location will be in Toronto. I need to give my desk preferences to HR. I am hoping I could get some suggestions here.
I've worked in S&T before in an European BB in Hong Kong as a sales person, and I've always been in equities desk (equity derivatives). I don't know much about FICC apart from the stuff I learnt from textbook. I don't have a quant background, but I am good with excel. I have a degree in Economics & Finance. I could do some simple VBA.
I was told that I should stay in FICC (fixed income/foreign exchange/commodity) in Canada as equities here is really small. I was also told that I should avoid money market as that desk might be replaced soon by computers (?) ...I've no idea...
Several desks I could think of are government bond, corporate bond/credit desk, debt capital market (yes, DCM belongs to S&T here in canada), interest rate swap, interest rate swap option, etc...
What do you think about these desks? How should i rank them? Did I miss anything? Is there any other interesting desk I should write down in my list? Any other desk I should try to avoid?
Any insight would be helpful, thank you very much.
Hey I would say go with whoever you met in your second rounds that you liked the most. Figure out what desk they run and then rank accordingly. The internship is just an extended job interview for a full-time so you want to pick carefully based on who you think you're going to like. If that's not a possibility then I'd say you're on the right track but keep in mind TD is #1 in equities for the past 7 years. On the fixed income side maybe go with governments because you're dealing with potentially the largest pool of securities? Just a thought. Good luck and enjoy (I didn't get an offer but TD was my top choice :)
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