Equity Linked Origination, IBD

Quantitative interview. It's a very quantitative role where you'll be working on combining options, bonds, and different derivatives to create custom (bespoke is the term used in this industry) pay-offs and exposures to different asset classes. Example, if you combine a bond with a put option and a call option, you get an instrument where you're getting paid a coupon, and you get upside exposure as long as the underlying instrument hits the exercise price of the put or call option. 

The interview will test you heavily on fixed income concepts. Duration, convexity, black scholes, volatility models. Recommend Hull - Early Derivatives.

As said above, our EQL partners were always very sharp and good with numbers. I would say the majority of our clients hated the idea of their products due to the reporting complexity it can create and really lack of understanding of the instruments so they always needed to be able to dumb down the math so they could walk through how the instruments work and the benefits. To be honest, I would say the majority of our management teams were usually pretty vocal about not being interested in converts, etc.

Colloquially known as the Converts Desk in ECM at most banks