From my understanding, bulge bracket banks have macro desks, where traders trade a wide variety of asset classes such as commodities, currencies, rates, etc. Examples of this include Credit Suisse's global arbitrage group.
Do these groups recruit mostly sell-side traders from other desks? If one attends a top MBA program, would he first need to get on a regular flow desk before jumping to a macro desk?
One needs to attend Harvard Business School to have any chance of landing on such desk. Any other MBA is obviously worthless.
HBS or bust obvi.
Most are being disbanded due to Dodd-Frank. But like the others said, HBS or bust yo.
HBS or bust for BB macro-prop trading? I find that highly amusing. There are far more important factors in prop trading recruitment than whether one attended HBS or NYU.
I think there's an inside joke about the OP and Harvard. I've slowly put it together: HBS is god's gift and if you don't receive your MBA from there then there's no chance for you to land an awesome Wall Street role.
BB global macro prop desks (Originally Posted: 08/07/2011)
Does anyone know if there any global macro prop desks left at any of the banks (if you know some that are not BB please feel free to list them too)? I know there are desks that trade macro products like rates and FX that take prop positions along with their flow obligations, but I'm really looking for desks that can touch all the asset classes and take primarily principal risk.
Basically something like this: http://online.wsj.com/article/SB100014240527487044090045761467020135306…
Thanks.
I know for a FACT that Nomura has one. i have spoken to the guy that runs it in hopes of wooing him, but to no avail... He primarily trades US Treasuries but i dont know how they divide up classes amongst the desk. PM for more info, dont want to name names.
JP Morgan has one, but it's just been moved into the AM division. I think they might have some focus on Credit though and/or Emerging Markets (I can't really remember anymore).
RBC Global Arbitrage Trading.
Very good perfomance
Buddy just go to the buyside. The whole sellside trading path u want is gone man. Adjust for fcks sake.
All the tier 2 banks still have them.
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