Equity Capital Markets > MBA

Business Description

We have designed these sections to aid you in your understanding of what Equity Capital Markets is, the services we provide to our clients and how we are structured in Asia Pacific. In the subsequent tabs we have asked for input from our Analysts and also the recruiters describe the type of person we are looking for as well as the recruitment process.

What is Equity Capital Markets (ECM)?

Equity Capital Markets helps companies to grow. By advising our clients about raising capital through the equity markets, they can acquire other companies and invest in new machinery or technology. Our core business consists of the origination, structuring and execution of IPOs, follow-ons, and convertible securities. We also provide our corporate clients with secondary trading assistance, such as real-time market insight, hedging strategies, and investor relations advice.

Equity Capital Markets professionals specialize across a range of sectors and products. In addition, an integral part of ECM's service is the Corporate Equity Derivatives team, which uses tailor-made derivatives products in the equity markets to find new value for our clients

What product/groups do we cover?

Equity Capital Markets:

• Consumer/ Healthcare/ Industrials
• Financial Institutions Group/ Real Estate
• TMT (Telecoms Media & Technology)
• Corporate Broking
• Structured ECM Solutions including Equity Linked and Corporate Equity Derivatives
• Equity Syndicate

What service do we provide to our clients?

We provide our clients with real-time market knowledge and technical structuring expertise that allows them to make optimal capital raising, hedging and risk-management decisions and manage the relationship with their shareholders. We are experts in financial instruments ranging from money market products, investment-grade and high-yield corporate and sovereign bonds, high-grade and leveraged loans, preferred securities, convertibles, equities and equity-linked securities to currencies, swaps, options, collateralized debt obligations (CDOs), asset-backed securities and structured new products.

Our massive global platform and depth of experience, combined with our institutional and retail distribution, top-ranked research, product innovations and capital commitment, has consistently produced a leading flow of business from both domestic and international corporate clients. And a reputation that few firms can compete with.

Why Work in Equity Capital Markets (ECM)?

ECM sits between the Investment Bank and the Equities Sales & Trading businesses. ECM professionals have a unique perspective: we are plugged-in to both the short-term dynamics of the market and the long-term strategic vision of investment banking. Our work involves daily interaction with bankers and salesmen or traders, and since we tend to work in small teams there is a high level of contact with our clients, to whom we often talk on a weekly or daily basis about the markets. We work under pressure, with very short deadlines (often minutes and hours rather than days).

Our Programs

Equity Capital Markets (ECM) in Asia has two programs you can apply for:

• Full Time Associate Program
• Summer Associate Program

We are currently recruiting into:

• Hong Kong

Full Time Associate Program

Equity Capital Markets professionals specialize across a range of sectors and products. In addition, an integral part of ECM's service is the Corporate Equity Derivatives team, which uses tailor-made derivatives products in the equity markets to find new value for our clients.

Our core business consists of the origination, structuring and execution of IPOs, follow-ons, and convertible securities. We also provide our corporate clients with secondary trading assistance, such as real-time market insight, hedging strategies, and investor relations advice.

The Full Time Associate Program commences in August with a six-week intensive training program in New York. Our training program is taught by senior level professionals within the firm in conjunction with clients and consultants that are committed to providing you with the best training program on Wall Street. We approach each module with a practical focus, encouraging Associates to “learn by doing”. The modules include a combination of individual and group homework, exercises, case studies, and presentations. You are tested on your knowledge through a combination of graded homework assignments, presentations and exams.

Citi's most important resource is our people. As such, you'll notice the emphasis on networking, mentoring, and socializing. New Associates are encouraged to get to know their colleagues.

Summer Associate Program

We also offer a Summer Associate Program for MBA students in ECM.

After the initial training you will then be assigned to a team within ECM where you will be allocated a project / projects to work on.

Throughout the summer we will continue to provide you with training and networking opportunities to help you gain an in depth knowledge of the whole of Citi. These events include networking opportunities with senior managers and various intern-wide social events. A mentor and a buddy will also be allocated to you to give you advice and support network over the summer with us.

During the program, we will be evaluating you for a full time position for the following year. We do this through a mid term evaluation and a final term review. Remember that this is a two way process – it is an opportunity for you to evaluate whether this is where you want to take your career as well. 

Who we are looking for

We asked our Equity Capital Markets recruiters to describe what makes a good candidate and what specific skills they are looking for: 

Successful professionals in ECM share many common traits. They include:

• Creative in solving problems
• Intellectually curious
• Hard-working and diligent
• Enthusiastic
• Quick-thinking
• Able to juggle multiple tasks simultaneously
• Confident and comfortable with clients
• Articulate in oral and written communication
• Cooperative; focused in achieving the group and client objectives
• Detail-Oriented

Their specific skill-sets may include: 

• Quantitative Analysis
• Financial Modeling
• Writing and Editing
• Computer Modeling
• Foreign Languages

Recruitment Process

We open for applications on September 3, 2007

The application deadlines are:

Full Time Associate Program:      October 12, 2007 (US Schools); October 26, 2007 (All other schools)

Summer Associate Program:      December 10, 2007

Please apply early. Our interview process for the full time programs will commence in October 2007, for summer internships it will commence in December 2007.

Below is an outline of the recruitment process (full-time program and summer internship program) from application received to offer:

Stage 1:    Application is reviewed by Graduate Recruitment and the Business

Stage 2:    First round interviews: Two 1:1 competency based phone interviews with Asia Analysts and Associates

Stage 3:    Second round interviews: Two 1:1 competency based phone interviews with Asia Senior Associates and VPs

Stage 4:    Final round interviews: Three 1:1 competency based interviews with Managing Directors and Directors

Stage 5:    Offer extended by Business; follow up by Graduate Recruitment