Do you guys know what these groups actually do? The postings online are very vague - I don't even know whether they are considered FO/MO or BO.
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I'm interested in this as well. These roles can be highly variable depending on the bank and group, but from what I've gathered it's a hybrid role where you help create investment solutions for clients and work with the clients to satisfy their objectives as well as do presentations and other more "salesy" type stuff. It's not pure investment research but definitely not a total sales role either.
"• Development an acumen for capital markets, economics, and portfolio construction theory."
I just love that GS has typos on their website.
Yeah so this is definitely more FO than BO right? I am amazed how their groups' descriptions sound kind of similar and even the names are mouthful: Product Strategy, Product Development or Product Strategy, Product Management.
I am not 100% into sales but if it is a hybrid of sales and research and that sounds definitely better.
The Product Development role is going to be the most technical. It is going to be focused around finding out what the Third Party Distributors (anyone who is selling GS asset mgmt products to retail or institutional clients) want, and then creating it for them. The Product Management role is going to be more sales oriented. You would be focused on maximizing the utilization by the TPDs of GS product. It sounds very similiar to an internal wholesaler role where you would be setting meetings for the wholesalers with the TPDs to discuss a specific product and also distributing research and data to the TPDs with the intention of increasing the sales of your GS product.
Why would GS need third party sales? Don't they have their own salesforce?
And is product development/management FO at this Asset Management?
Thanks guys,
Because their Asset Management division can generate more revenue if everyone else's sales force is also selling GS product.
As mentioned above, Product development roles in AM typically involve developing new investment products/solution that are hot in the market (clients are demanding them and other AM firms have been launching them) or that the team sees as being a big opportunity that clients will demand in the next year or two. This role is more analytical as you have to do alot of research into current trends in the AM industry, competitive analysis, macro analysis and would involve working with wholesalers to see whats working and where the companies product offerings are lacking relative to what clients are asking for.
As for product management, I have a friend that works in that type of role for a major AM firm and from what i've been told you are typically assigned a number of funds and are expected to be an expert in that area (equity funds, fixed income funds etc.) and serve as a main point of contact for wholesalers and work closely with the PMs to analyze performance, write performance reports, educate wholesalers, and occasionally give presentations/answer questions that aren't necessarily important enough for the PM to take care of so that the PM isn't constantly being harassed.
In terms of compensation, i'm not really too sure but significantly less than the analysts/PM for the funds.
Product management seems like pretty fluff based on your description. Glorified sales and marketing.
Hi, PM at a top 5 asset manager here. This description is spot on. Very little movibility into investment group/portfolio management. Most move on to wholesaling/institutional sales or client portfolio management.
Agree with mogel, solid answer
Great - What do you guys think about the exit opportunities of these jobs and also positioning for M7, esp from a firm like Goldman Sachs?
Since both Product Dev and Management are client-facing I assume they would be considered FO since they are either developing/creating products for clients and assisting in selling of these products?
I'm interested in this as well. What are some of the specifics you guys have done to prepare for these positions? Any recommendation?
basically be personable, know about markets/products, and someone that can deal with a lot of different people from varying groups and be able to resonate with all of them -- be it clients, internal teams, PMs, etc
Thanks shorttheworld! But in terms of interviews, I'm curious what kind of technicals they would ask. Can you be a little more specific? Any inputs will be helpful. Thanks!
can you share the type of questions you were asked during your interviews?
Anyone??
Yeah they are more sales in my opinions. But alot of them on Linkedin have CFA, which makes it more legitimate in my opinions?
Seems like Product Development is pretty interesting?
Did you guys have the interview yet? How was it? What did they ask?
Did you interview here as well? Have you heard back yet? I have been waiting for more than a week so kind of nervous.
Yeah, I did. I did not hear back but I got an offer elsewhere so I contacted the HR saying that I'm not pursuing the position anymore. The interviews were pretty pleasant though.
I would also love more information on these and want to know whether they have good exit opps, FO/MO?
What's the probability this leads to an investment analyst role?
Bump. Any more views on this? Specifically for the Product Development role / interview / exit opps within AM.
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