Global Transaction Banking at DB

So I have an interview with Deutsche Bank for Global Transaction Banking. It is part of Global Banking, however its obviously not investment banking. At first, it struck me as something along the lines of corporate banking, but going back to the description, I'm not so sure. Here is the description:

Global Transaction Banking (GTB) addresses the needs of corporate clients, financial institutions, investors and issuers. GTB covers payment transactions, liquidity management, trade finance, securities services and the trust business. GTB employs more than 4,000 professionals in more than 35 countries and provides the following products and services:

Cash Management
Trade Finance
Trust & Securities Services
Capital Market Sales

So, does this seem like a good opportunity and a front office job to you? What can I expect should I get this internship? Can anyone tell me more?

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Comments (30)

Jan 23, 2009 - 8:37pm

Corporate banking it is, without getting into credit side too much.

I don't know about DB and this internship specifically but if you're looking for sales experience, GTB could be good since its mostly about pitching capabilities to clients. Also, stuff like fx could be included.

Apr 27, 2010 - 12:06am

This is very similar to Citi GTS.. but I guess in a smaller scale since Citi GTS covers >140 countries..
Should be a sales position... not FO IB, but more FO Corporate Banking maybe.......Citi pays pretty well for GTS analysts.. same base as IBD but 1/3 bonus.. about 50-60% IBD hours lol

If you like sales, pitching etc. this should be great.

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Sep 6, 2010 - 3:06am

db gtb is one of db's best groups and a consistent money maker. I think it's pretty solid if that's what you want to go into. That being said, it's not IBD, but awesome nonetheless.

--------------------------- BossMode
Sep 15, 2010 - 6:38am

I can't really shed too much light on that given I don't know enough about their finance or PWM divisions. However, I know their banking (I'm assuming you mean GTB) is easily a top 5 now.

--------------------------- BossMode
Feb 4, 2016 - 5:42pm

futureceo:

Can anyone comment on this role? What are exit ops? It seems like this often falls within the investment bank in many other banks, where does this fit in the banking division?

it is a middle-back office type role at DB
working closely with corporate bankers, implementation and services, treasury, etc. lax environment

best exit op? corp. banking maybe if you are lucky and know how to network really well
i know a regional office MD in GTB, he has nice, balanced life, happy family & kids
but i wouldn't expect any exit opps at all... maybe transaction banking at another BB or some MM bank
its not like IB or S&T or Research... but sure, business school or masters degree somewhere for rebranding is always an option... although i am not sure if this role is looked favorably in applications

Feb 4, 2016 - 5:43pm

In my bank and the bank's that I haven been at, this is typically referred to as cash management, although I see that trade finance is in this group also. You are selling or implementing products and technologies that help clients make and receive payments more efficiently, manage cash, and automating treasury processes for your clients.

As for exit ops, I expect that it would be pretty limited. Either corporate/commercial banking (maybe) or into a treasury group in industry.

Feb 4, 2016 - 5:44pm

From my understanding, this is quite similar to Citi Global Transaction Services. It seems like GTS at Citi at least is very high-revenue generating component for the bank. Also, how is it a back office role if you are dealing directly with clients?

I apologize for the questions, but I've just been slightly confused based on my research in this forum for GTB and on the internet.

Feb 4, 2016 - 5:48pm

BB Global Transaction Banking SA ==> IBD ? (Originally Posted: 02/04/2016)

So as it goes, the internship recruiting season has pretty much ended but I did not get an IBD SA. Ended up with a BB (DB/BAML/Citi) in their Global Transaction Banking.

Got my heart set on IB but yep, that was the best offer I got. A bit about my background, I am a penultimate year in a UK target school (Oxbridge/LSE/Imperial) with a first. Got a few questions below would appreciate any advice you can give:

1/ Will GTS SA experience at a BB give me a shot at BB IBD SA in the next recruiting cycle, if I do a Master? What is my chance like?

2/ GTS SA --> IBD Full time (Boutique/MM/BB) straight after graduation, possible?

3/Start working at GTS after graduation then lateral to IBD, better option?

4/ If I can't break into IB, is GTB a worthwhile career? (I know it is nothing like IBD, but anyway here we are)

Thanks for your help.

Best Response
Feb 4, 2016 - 5:49pm

Hey IBDnoMad, I was actually in the exact same boat as you a few years ago - tried out everywhere for IBD internships and ended up with a Global Transaction Banking internship at a BBIB. I'll try and help you out as best as I can:

"1/ Will GTS SA experience at a BB give me a shot at BB IBD SA in the next recruiting cycle, if I do a Master? What is my chance like?"

1) The only real advantage of having done the Transaction Banking internship when it comes to applying for IB SA roles will be having another piece of work experience and a brand name on your CV. The work is completely unrelated and more than likely a lot of IBers won't even recognise or understand what transactional banking is (I had to continually explain in my interviews what it was!). Corporate Finance experience at a Big 4 accounting firm or boutique IB will be viewed much more favourably than a GTB internship. However, depending on your marks, other work exp, and ECs you can definitely use this experience to get another SA role in IBD, and that is exactly what I was able to do.

"2/ GTS SA --> IBD Full time (Boutique/MM/BB) straight after graduation, possible?"

2) This is also a possibility, you'll encounter exactly the same problems as I mentioned in (1) above, but its not out of the question if your marks are good enough.

"3/Start working at GTS after graduation then lateral to IBD, better option?"

3) This is the least likely option in my opinion, having worked in Transactional Banking I can say that the work is COMPLETELY different to IBD and there will be almost no chance of ever lateraling across without many steps in between. For example I know of one person who was able to go Transactional Banking BBIB -> Corporate Banking in the same BBIB -> IBD Analyst at an elite boutique IB, however after their 4 years experience they had to start right back down at the bottom. If your end goal is IBD I really wouldn't recommend starting as a grad in GTB.

"4/ If I can't break into IB, is GTB a worthwhile career? (I know it is nothing like IBD, but anyway here we are)"

4) GTB is a perfectly respectable career, it's just very different to IBD. I'll briefly compare them below:
- Work/Life Balance: much, much, much less hours in GTB, it's rare to be working consistently past 6-7pm unless you have a big sales tender, however there will at times be meetings and phone calls taking place at odd hours of the night due to time zones.
- Salary: Pay is also quite good in GTB; base salary is not too much lower than IBD base, however don't expect a bonus, nor should you expect salary progression anywhere near the rate of IBD.
- Job Security: GTB is fairly insulated from economic cycles, especially in the current market where BBIBs are cutting jobs left, right and centre. Companies will always need banks to help them send, receive and process payments even in the middle of a recession.
- Work: the work you'll be doing in GTB is not particularly exciting, nor is it overly stimulating. You'll never find your work being mentioned in newspaper.

Overall GTB is more of a long term career, to make big money you'll have to really spend some time climbing up the ladder. Exit options aren't too great either, depending on what part of GTB you're in you could leave into a client's treasury team, you could go into a generic company sales/relationship management role or you could go into a generic corporate product management role. Prestige and salary is nowhere near the level of IBD, however work/life balance is very good and if you're not the kind of person who worries about prestige and wearing Armani suits, then you'll probably enjoy it far more than IBD.

Overall I honestly think you should go into the internship with an open mind, I thoroughly enjoyed my team and my summer, I made good money and had plenty of time after work to hang out with friends and go to the gym. Just don't expect it to open doors in PE/HF or IBD roles.

Feb 4, 2016 - 5:52pm

Global Transaction Banking Internship (Originally Posted: 06/12/2015)

Hallo everyone,

I am a law student, pursuing my masters in Finance, I do not have prior work experience in Finance. Could some one please help me understand the kind of work done in the GTB department.

Feb 4, 2016 - 5:53pm

MO function (however they are on phone with clients all the time), working closely with corporate/commercial bankers, structured finance guys, network bankers, etc.
I guess it varies from bank to bank. Obviously check WSO for clues. Here some random info:

https://www.db.com/ir/en/download/Citi_German_Bk_Roundtable_Steinmueller_25_Sep_2008_Final.pdf
http://career.ntu.edu.tw/epaper/pdf25-1.pdf
http://kclic.co.uk/wp-content/uploads/2012/11/Global-Transaction-Bankin…
https://www.db.com/ir/en/download/CIB_Workshop_Werner_Steinmueller_010611.pdf

Feb 4, 2016 - 5:54pm

Deutsche Bank Global Transaction Banking (Originally Posted: 04/13/2016)

Hi all,

I was wondering how DB's GTB division compares to other groups at the bank. Does it fall under IBD or no? And what are the exit ops available for someone from GTB?

I know there are other threads similar to this but none provide direct answers so any help would be appreciated!

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