Hi all,
Canadian here, go to semi target and trying to recruit for summer 2022.
I was just wondering if anyone has any knowledge on what this group does? CIBC has an Alternate Solutions Group in Global Markets. I tried to gather info on it from google but there isn't a lot of content beside some job postings, not even CIBC's website has it. From what I understood on the job posting, this is a fintech role. It seems very similar to transaction banking but heavy focus on fx.
Other than that, I don't get what part of this role makes it S&T/Global Markets? How does it differ from normal fx sales desks and cash management team under CIBC's Corporate Banking division. What is the comp and exits (glassdoor had a review saying comp was low and linkedin showed ppl exited to other trading desks). Any insights you guys have will be appreciated, thanks!
It's basically a fintech group that offers consumer and corporate solutions to niche issues. Minimal market facing activities, but the skillset is great and very similar to any other position you would get in front office. If the posting deals mentions FX extensively, I'd wager that you would be working with a team that handles payment and revenue streams from international product clients.
It differs from conventional S&T because their work revolves around fintech products rather than securities. Salary is identical to that of S&T or IB interns, but I have no clue about bonus structure, or exits. Additionally, the group is actually composed of many smaller teams, each with products of their own. There's an extreme amount variance between the teams in regards to culture, and skill set.
Overall, it's a very solid group and if you're very concerned with ending up in S&T or IB, it will surely help you. Many of the groups analysts actually switch to IB within the org.
Thanks for the clarification. Do you know what I should look out for when prepping an interview in this group? Id assume I should prep it like any other S&T interviews + have a high level understanding of the products, but is there other things I should look out for?
Understanding the products would be a tremendous advantage. Try networking with current or previous interns
No clue, but some people who've done a CIBC Alternative Solutions Group internship went on to do some pretty great stuff (i.e. Goldman Sachs).
ASG is one of the leading teams at CIBC Global Markets. It is an FX desk that provides innovative and tailored solutions to clients globally. Exit Ops are great, many interns ended up in Investment Banking and other capital market roles.
Does anyone know FT comp for this role? Interviewer mentioned specific comp is "pretty good imo" and I'm just wondering if that means it could be a little higher than 85-95k base. Transitioning from a job that's ~110k base and while main goal is to move into FO with the switch, 90 base with an unknown bonus structure is a bit unnerving.
Bump
Second year at a target Canadian school here. Does anyone know whether this role is a good stepping stone to landing IB / S&T internships during their third-year summer? Is it only beneficial for moving laterally within CIBC?
should serve very well for s&t internships. not sure i can say the same for ibd, but apart from an ibd/pe internship, it'll be the next best thing as exp
i did an interview for a co-op for this group LATAM region oh holy i truly hate them – they really seem to have a bad/toxic culture
i declined my offer :)
i interned here many years ago and it was a hellhole
absolute hell
They are not on the trading floor but they love telling their clients on zoom that they are "on the trading floor", the floor is a call center. Toxic terrible culture. High turnover, most full-times leave within two years. They treat interns and juniors worse than slaves. Ask anyone that interned there and they will tell you
Can you elaborate on the culture more? Is it the amount of work? or just seniors treating everyone terribly?
bump for visibility
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