BoA Global Rates & Currencies Interview

holycowbanana's picture
Rank: Monkey | 37

I got an interview with B of A Global Rates & Currencies, what exactly is this? S&T or something else? Also, how would I prepare a phone interview with them as a FT analyst? Has anyone worked in this dept before?

Thanks!

Comments (12)

Mar 1, 2010

This is certainly an S&T position.

Things they may ask (i've been asked b4)

1) Know the major currency pairs (and the ball-park value of the pair) .. for example dont embarass yourself and say the EURUSD is at 1.8 or USDJPY is at 130

2)Have an opinion on the dollar, if asked about the markets in general, reference the euro-zone issues as they relate to the potential health of the euro as a currency
and
the UK worries over the pound/treasuries (that will definitely turn heads if you speak confidently on the matter)

3) they may or may not ask mental math questions over the phone... in any event, answer promptly.

PM if u have more detailed questions

CD~

Mar 1, 2010

Alright thanks!

Mar 3, 2010

is this for summer or full time?

Mar 3, 2010

full time

Mar 3, 2010

dang, pretty late in the recruiting cycle for FT recruitment. is this for a FT 1st year analyst position (or associate)? and is it in nyc or hk?

Mar 3, 2010

rates/currency is divided between g10 and em (emerging markets). if it's nyc, it's most likely g10, if it's hk, it'll be em focused. do some research on those 2 topics depending on which office this position is for.

Mar 3, 2010

weird, this is a full time analyst role in SF.

Mar 3, 2010

bump

Mar 3, 2010

First round won't be so bad but unfortunately coming from IBD likely means you aren't a constant markets hound, but if you are that's great. That said, from the name of that division, it is likely the furthest from actual S&T despite still being categorized as S&T, if that makes sense to you. Mostly what this division does is work with international companies who do business in multi currency markets. An example would be McDonalds wants a term loan for McDonalds Japan, Inc (who knows what subsidiary is used.) This group would go through a standard loan origination analysis to determine the creditworthiness and risk of the loan. They borrow the money in USD from BAML and then execute a currency swap to yen to disburse the amount to its Japanese subsidiary. Their goal is to pitch the client to borrow or issue debt to the DCM using their bank for all of their international businesses.

Hard for them to expect you to know a lot about that, but a lot of what you'll learn is how to price based on market demand (literally you analyze a number and call up buyers to feel out how much demand there is and then increase or decrease the rate), how to analyze a company's creditworthiness, creating pitchbooks, etc.

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Mar 3, 2010
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