Capital MarketsInvestment Banking: Where financial products are born
Roles and career paths
A guide to finding a job in securities and banking
As banks are essentially offering similar services, they have to convince clients that their firm is the one to use. So before new equity or debt-related products can be created, deal “originators” are deployed to bring in new business.
Origination specialists spend a lot of time traveling to clients to gain an insight into their financing needs. However, you are unlikely to become one until you’ve worked in capital markets for some time.
As a junior capital markets professional, you are more likely to be involved in structuring the products so that they meet the client company’s financing needs and are compelling for investors, or in the syndication process (preparing for the sale of finished products to investors).
If you want to work in capital markets, it will help to have an understanding of, and interest in, the technicalities of company financing, but this isn’t the limit of the job. “Product knowledge, such as how to structure and price various equity products, and market understanding are key skills of a capital markets banker,” says Darius Naraghi, director, equity capital markets at Deutsche Bank in Hong Kong. “As ECM bankers become more senior, it is also important to develop strong relationships with regional companies that are looking to raise money and also with institutions that are looking to invest.”
You have to be a real team player, largely to keep a variety of parties happy throughout a complex process.