Jump from Credit Portfolio Management at Commercial Bank to Asset Management
Hi all,
I accepted a job for a large commercial bank (top 6 or so) doing quantitative portfolio management on MBS, mortgages, home equity loans, etc. I spend most of my time valuing whole loan portfolio deals between us and other banks and leading the macroeconomic analysis for our team. Prior to this position I was on the macroeconomics team at a large financial institution (non-bank). I have an MBA from a top-25 or so school (part-time so not much help with career services), have passed CFA level 1 and will be sitting for CFA level 2 in June.
My question is how difficult is it for someone like me to make the jump from my current role to an asset manager like a Fidelity, Vanguard, Wellington, BlackRock, etc.? I was told prior to this job that the role would be similar to what I would find at these places, but that hasn't really proven to be the case (they stole me away with a big raise and a nice signing bonus). Some of the research opportunities are interesting, but as a commercial bank the strategies for growth we can deploy are limited and depend on customers as opposed to clients. Has anyone made a transition similar to the one I'm trying to make? Is there anything additional I can do besides attending local CFA chapter talks and network?
Thanks, D
You pretty much said it. CFA and networking. You may be able to get interviews/face time if you have a decent network. Some skills are transferable but you don't invest, which is the largest handicap. You'll have to do a lot of individual lag work, but it's possible. MBA is an option as well, but only top 10 ranked.
Join your local CFA Society and network like crazy. You might want to focus on smaller and boutique shops instead of the big name asset managers. It will be easier to show your value and transferable skills at a smaller shop than trying to get some HR rep at BlackRock to read your resume.
Thanks. Went to first CFA society event yesterday and it seemed to be a good place to start.
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