Investment Banking > Analyst

Business Description

We have designed these sections to aid you in your understanding of what Investment Banking is, the services we provide to our clients and how we are structured. Investment Banking is a broad term used by many people including bankers and firms to cover different things, but is often also referred to as Corporate Finance. In the subsequent tabs we have asked for input from our Analysts/Associates and also the Recruiters to describe the type of person we are looking for, and how the recruitment process works.

What is Investment Banking?

Investment Bankers at Citi are strategic advisers to companies and governments, helping them to facilitate and finance their strategies, and lead or participate in industry change and evolution in the global economy. Our advice is used to connect companies with the right providers of capital, and to execute their deals through strategic and tactical advice and project management in mergers and acquisitions.

What service do we provide to our clients?

We provide leadership, guidance and advice on transactions in financial markets across all industries in all corners of the world. Although Investment Banking by default is associated with mergers and acquisitions (M&A), Investment Bankers also originate and execute equity and debt capital raisings, leveraged buyouts (LBOs), financial restructurings, divestitures, initial public offerings (IPOs) and privatisations around the world. By working with our counterparts in Citi’s Corporate Banking, Capital Markets, and Global Transaction Services teams, we are able to provide our clients with the broadest and deepest financial advice and capabilities.These include underwriting and distributing equity, debt, and derivative securities for some of the world’s largest international corporations, financial institutions and governments.

These transactions can cross national borders, involve multi currencies, and use many sources of equity and debt capital expertise.With our global presence, local expertise and deep industry knowledge, we are in a unique position to advise and, if appropriate, execute these transactions for our clients.

In addition to M&A, we are involved actively with our capital markets partners in client discussions on debt and equity financing. Private Equity has become a large investor in almost all our industry and regional businesses, which adds a leveraged finance dimension.

Most of the relevant execution work is done within the team, providing extensive opportunities for Analysts and Associates to work directly with senior bankers and clients and to travel. 

How we are structured?

The Investment Bank in EMEA is organised into two primary groups;

• Country Coverage Groups 
• Industry/Product Teams (including the Financial Strategy Group).

Country Coverage Groups:

Country (or regional) Coverage Groups in Europe include the UK, Iberia, France, Germany, Italy, and the Nordic region. Each geography is comprised of corporate finance advisory teams (from Analyst to MD) within the Investment Bank that focus on providing advice to local clients in their respective region across a range of industries, or focussing on specific roles like M&A, or foreign clients seeking to invest in that region. Country Coverage bankers have a detailed understanding of local market regulations and customs, and transaction execution. They are region or country specific experts based both in London and local offices who work in harmony with the product and industry coverage teams, to provide the best solutions and service to the clients of Citi.

Emerging Markets

In addition to specific Country Coverage Groups, Citi’s Emerging Markets team works with clients from more than 60 countries, building personal relationships, and working with a diverse range of people, from company executives and owners to billionaire oligarchs and blue-chip Western companies, from heads of state and their advisors, to Princes from the Middle East. 

Industry/Product Teams: 

In contrast to a Country Coverage Group, which focus on opportunities in a specific region, industry coverage bankers focus on specific industries, but on a pan regional and global basis. Many of these industries have major differences, strategic needs and opportunities in the way they operate - structurally, technologically, legally and practically. They provide in depth and up to date understanding of ideas for clients within these industries by specialising in one particular sector or group of related sectors. A technology banker, for example, needs to be nearly as technologically savvy as a Silicon Valley executive in order to determine which business combinations make the most sense, or what the key issues are in raising capital for a client.

As an Analyst/Associate, you’ll work closely with both team members and product partners from all levels, as part of a global coverage platform stretching from the Americas to Asia.

Citi has a number of industry teams including:

• Energy, Power and Chemicals 
• The Power & Utility Team has a regular dialogue with a large number of power, gas and water companies. For example, Citi is the defence adviser to Endesa. We are also advising Essent in regards to a merger with Nuon. In Russia, we have recently advised Norilsk Nickel on the acquisition of a stake in OGK 3. We are the joint global coordinator advising the Danish government on the IPO of Dong.
  
  Energy works with some of the world's largest companies; in geographies as diverse as Russia, Nigeria and Brazil; in a sector with far reaching geopolitical influence. Our clients encompass Global Oil Majors such as Chevron; Shell, National Oil Companies such as Gazprom, Rosneft, ONGC Videsh; Middle Eastern oil companies such as Dana Gas, Taqa; and private equity players amongst others.
  
  The Chemicals Team is a trusted advisor to several large participants in the European chemicals industry. The diversity of the chemicals industry allows for a broad exposure to many industries ranging from petroleum to pharmaceuticals to bio-tech.

• Global Industrials Group
• The Global Industrials Group is made up of three segments: Basic Industries (BIG), Industrial Manufacturing (IMG) and Transport, Infrastructure and Services (TIS)
  
  The Basic Industries Group (BIG) builds relationships with a wide range of corporate clients in the Paper & Packaging, Metals & Mining and Building Materials sectors. It recently advised Cemex on acquiring Australian based Rinker.
  The Industrial Manufacturing Group works with many of the world's largest companies within the Automotive, Diversified Industrials, and the Defence and Aerospace sectors. Since our clients are often global, the team members work closely with colleagues from around the world, not limited to the US, Japan, India and China, as well as the European offices. It recently assisted Continental on its plans to acquire Siemens VDO.
  Whether it is airlines, construction, shipping or support services, the Transport, Infrastructure and Services team works with a wide range of industries, focussing on the companies and organisations that provide the services and infrastructure which enable us to lead our everyday lives. The team recently advised Ferrovial on its acquisition of BAA.

• Financial Institutions Group
• The Financial Institutions Group is the banker of banks - it advises financial institutions. This includes a spectrum of subsectors: banks, insurance companies, asset managers, credit card issuers, stock exchanges and electronic financial service providers. FIG works in all the subsectors, across the whole of Europe, and the industry spans from very large public companies (Citi, Barclays, etc.) to small but rapidly growing boutiques (GLG, Hargreaves Lansdown, etc.) Earlier this year the Citi FIG team advised Capitalia on its merger with Unicredit to create the #1 banking group in the Euro area by market capitalisation and the #3 banking group in Europe. In addition, Citi acted as sole global co-ordinator, sole bookrunner and sponsor on the £190mm IPO of Hargreaves Lansdown Plc, the first IPO of a fund supermarket and wrap platform in the UK.

• Technology, Media and Telecommunications
• Technology, Media and Telecommunications (TMT) offers the opportunity to work with a wide range of well-known companies, ranging from Vodafone to Philips to EMI. Deals in the sector dominate the front pages of the financial media, with transactions as large as the $31 billion acquisition of O2 by Telefonica and as small as the £350m sale of Vue cinemas. Given the industries involved, a TMT banker’s work is varied, from understanding the mobile operations of a company or even attending the MTV Europe Music Awards.

• Financial Strategy Group
• Financial Strategy Group (FSG) serves as the primary corporate finance analytical resource for Citi's corporate clients. Today's increasingly complex economic and operating environment has raised further the bar for innovative and theoretically sound financial solutions. FSG works closely with Citi's product, regional and industry experts to develop best practices for recurring and newly emerging corporate finance issues. FSG plays a central role in developing and deepening relationships with our major clients, helping to execute transactions, and publishing widely distributed reports to guide executives who are facing complex corporate finance issues. 

• Consumer/Healthcare/Real Estate
• The consumer team works with well-known companies on transactions that span geographies and products. Last year the team completed 2006's largest European IPO (Debenhams), Turkey's largest leveraged buy-out (Mey/TPG), HMV's defense, Cadbury's 53% acquisition of Dr Pepper/7UP Bottling Group and a South African notes offering.
  
  Healthcare is one of the world's most important industry sectors. In 2007 alone, the Citi healthcare team has been involved in Europe's largest healthcare deals including KKR's $21bn LBO of Boots, the $17bn sale of Numico to Danone, Merck's $3bn rights issue, BUPA's $3bn divestiture of its hospitals, the $1bn IPO of Pharmstandard and Shire's $1bn convertible bond.
  
  The real estate markets currently are undergoing dramatic change in Europe and across the globe, which results in both financing and advisory assignments across the sector. Real Estate bankers work across a breadth of different financial market products and geographies, acquiring in-depth knowledge of one of the most active sectors in the marketplace.  

• Financial Entrepreneurs Group
• The Financial Entrepreneurs Group deals with some of the most dynamic clients, including Private Equity firms such as KKR, Blackstone, Permira, Apax, Bain Capital, Carlyle, 3i, Cerberus and Apollo . Private equity has been the driving force behind many of the most innovative and complex transactions and an agent of change in a variety of industries across the EMEA region. In 2006, FEG was involved in some of Europe’s largest private equity deals, including KKR’s acquisition of Alliance Boots, TPG’s acquisition of TDF, Permira’s acquisition of Valentino and Apax’s acquisition of Tommy Hilfiger.

Roles of an Analyst

To give you a better understanding of what you can expect if you join the Investment Banking division, we asked some of our Analysts to describe the main tasks they undertake as well as their career progression and an insight into an execution project.

Roles an Analyst may undertake in Investment Banking:

Valuation Analysis: Valuation is one of the key skills that every Analyst works to master because it often underpins the substance of Citi's advice to clients and captures along with client relationships and strategic and tactical judgement, the essence of being an Investment Banker. An Analyst is responsible for performing valuation analysis, which typically relies on several methodologies to develop a valuation range. An Analyst frequently studies a universe of peer companies that he or she selects, and analyses them. How their peer group are valued in the public capital markets, and how comparable companies were sold in the past, is frequently the basis for establishing the value of business for your client, in addition to fundamental corporate finance techniques such as discounted cash flows. After all that number crunching, careful judgement must always be applied.

Modelling: Financial Modelling and valuation are inextricably linked technical tasks performed by an Analyst. The primary purpose for building a model is to aid in valuation analysis and/or deal structuring advice. The benefit of a model is the ability to modify assumptions and key inputs easily so as to determine the effect on valuation. Modelling is central to sensitivity analysis, to understand how the business performs as assumptions change. The process of building a model also deepens an Analyst's understanding of a company and its industry, accounting, finance and taxation. Often the Analyst will develop such a detailed understanding of a company that even senior bankers need to rely on Analysts to answer detailed questions. Many models will be built to accommodate full functionality, including forecasting certain operating metrics that are derived from the income statement, balance sheet and cash flow statement. It is not unusual for the client to adopt the Analysts' model for its own corporate use.

Company Research and Industry Analysis: Understanding a client and its peer companies within an industry is absolutely essential to provide the best advice to clients. Such an understanding is also crucial to performing an appropriate valuation or building a model as well as framing the best advice on capital structure, M&A and generating valuable strategic ideas, and predicting market reaction to transactions and other events. One of the most helpful tasks an Analyst can perform for a client or internal working team is to review and select the best and most relevant research and news, which often requires a lot of personal study and time commitment. Information can be sourced from the internet, news services, broker research and Citivision - Citi's in-house information and market data provisioning portal. Citi has dedicated researchers that work under the guidance and direction of the Analyst that greatly assist in the gathering of information.

Presentation Preparation: In addition to performing research, modelling and valuation analysis, an Analyst must synthesize this information in an easy-to-understand manner for the client. While an Associate may design the pages and flow of a presentation, the Analyst is responsible for the magic that transforms the doodles and scribbles on pages drafted by the Associate into a professional document presentable to a CEO or head of state. To help the Analyst accomplish this task, there are design and production teams that work under the guidance and direction of the Analyst.

Co-ordination: Each project has multiple work streams, deadlines and deliverables that must be managed. An Analyst helps coordinate such tasks with internal working teams, external working teams (such as lawyers and accountants) and the client. Additionally, Analysts work with Associates to prepare required internal documentation. One example is a "New Business Memorandum" that internally notifies the senior management that a client requires our services, identifies key issues and decisions needed and requests approval to provide human and financial resources to be deployed for the client. It is an important part of Citi's commercial business management process as well as critical to internal controls and compliance with market regulator requirements.

What you can expect to learn as an Analyst?

At the end of your first year as an Analyst you can expect….

• To research and gather information quickly and efficiently

• To use keyboard shortcuts in Excel

• Prepare insightful materials on companies and their businesses

• To speak knowledgeably about things that a year ago you knew nothing about

• To have more stamina and passion about your work than you thought possible

• To know what it feels like to travel on business and meet some clients 

At the end of your second year as an Analyst you can expect…. 

• To be able to build models that should be executed on super computers

• To speak a technical language that your friends do not understand

• To have developed insight for new business models and industry dynamics

At the end of your third year as an Analyst you can expect….

• To engage regularly with clients on live deals

• To have people solicit your view

• To speak to issues during client meetings with real authority

• To assume increasingly the Associate role for project origination

An execution project – the Analysts' perspective

There is no such thing as a “Typical Execution Project” 

Day 1 – Until the Day Before Announcement

• The Vice Presidents scope what is needed in order to provide the client with the best possible service in meeting their objectives

• You search for information that may or may not exist, until there is virtually no chance that some crucial insight has been overlooked

• You “run the numbers” and really get it, so when people question the result you can cite data from memory and have a robust view on the answer!

• You attend meetings, meet lawyers, meet accountants, spend long hours at the printers getting the documentation perfect

• You think you dislike your Associate for his/her attention to detail while you actually secretly admire his/her professionalism

• You revise many drafts of everything until everybody is satisfied that all the bases are covered and our advice is right and our execution flawless 

On Announcement Day

• You are so proud of yourself

• You have done another deal

• You have your MD to sign-off on your next holiday

   

Day after Announcement

• You call everybody you know and ask them to buy the FT because there is an article about your deal

• You have lunch away from your desk for the first time since Day 1

Our Programmes

Investment Banking in EMEA has three programmes you can apply for:

• Full-time Programme

• Summer Analyst Programme

• Placement Programme

Full-time Programme:

The full-time Analyst programme commences in mid July with a six-week training programme. Once you have successfully completed this, you will be assigned to either an industry or country coverage team.

Your formal training begins with orientation and induction sessions providing an overview of Citi and, specifically, Citi Markets and Banking. You will have the opportunity to meet representatives from the teams that make up the Investment Banking Division. The aim of the orientation and induction is to provide you with a solid understanding of the division and allow you to make an informed choice as to which team you would like to join, after completion of the training programme. The allocation process will be based on your preferences and our specific business requirements.

You will then complete a six-week programme of extensive classroom training with skilled external corporate training consultants, supported by selected internal instructors from within Citi. This comprehensive programme is designed to cover the following fundamental aspects of the Analyst role:

• Confidence when extracting and assimilating financial information

• Building robust financial models

• Understanding the fundamentals of equity valuation

• Familiarity with the standard Citi financial models

• Understanding key roles in the financial markets

• Understanding key financial products

Summer Analyst & Placement Programme:

Both the Summer Analyst and Placement Programme commence with a full week of training in London. This begins with orientation and induction sessions during the first day that provide an overview of Citi and, specifically, Citi's Investment Banking Division.

You will then complete a four-day programme of classroom training which will be carried out by skilled instructors drawn both from within the business and external training companies. This comprehensive programme is designed to cover the following fundamental aspects of the Summer and Placement Analyst roles:

• Basic accounting and valuation techniques

• Core Office applications training

• Citi's library and information services

• External information systems e.g. Bloomberg

• Citi’s presentation format

An interactive training programme ensures that Summer/Placement Analysts are fully engaged in the learning experience, making the training relevant, stimulating and effective.

Throughout both programmes you will also be given opportunities to participate in various programme-wide events, including business presentations and social events. Furthermore you will be provided with ongoing training and networking opportunities to make sure you gain an in-depth knowledge of the whole of Citi. A ‘buddy’ will also be allocated to you to give informal advice and provide a support network.

The Placement Programme commences in February and September and normally lasts between six and twelve months. The Summer Analyst commences at the end of June/beginning of July and lasts for 10 weeks.

During your time at Citi you will be evaluated for a full-time position on the Analyst Programme starting the following year. This is done through a mid-term evaluation and a final review. Remember that this is a two-way process – it is not just an opportunity for us to assess your fit for a career in investment banking, it is an opportunity for you to evaluate whether this is the direction you want your career to take.

Summer Diaries

Name: Shabana Kapasi
Division: Investment Banking
Group: Healthcare
School:  Mathematics – University of Oxford

Weeks 1 & 2

I arrived at Citi centre on Monday morning to be greeted by other bright eyed interns; we quickly found our way to our HR contacts who got us settled in, and went through an overview of the summer with us. The training week consisted of an introduction to accounting and valuation and an overview of the resources available to investment bankers. It was an intense week but so long as you understand the main message of each session, you can ask any questions you need to when you join your team. During the first week we had various social events for us to be able to meet other interns in IBD as well as other parts of the bank in some fantastic places around the city. It’s great to get to know other people in the same boat as you and the “Summer Class” atmosphere develops remarkably quickly. Living and working in London takes a little getting used-to, especially if you come from a small university town, however the transport is actually quite good and the fast pace is incredibly addictive.

Weeks 3 & 4

I was assigned to 2 projects as soon as I joined my team. One was longer term, which took me all summer to complete while the other was work on a meeting the following week. In just my first week working with the team, I saw an entire pitch book come together and felt like I was learning something new almost all the time. The people who I was working with were incredibly good at explaining exactly what they needed me to do as well as ensuring I understood how what I was doing, fitted in to the bigger picture. I felt incredibly comfortable asking questions to anyone I was working with.
Every summer intern is assigned a buddy, who is a full-time analyst from another team. This is a great way to see how other teams work, as well as giving you a confidential sounding board should any problems arise.
Throughout the summer internship there are various social events for interns like the Volunteering Day in the Community and the Dragon Boat Racing. There are also a variety of smaller events, focusing on particular divisions and universities. I also attended a lunch for Women in Investment Banking. This is a great way to meet people of various levels of seniority from all over the bank and quickly build a professional network.

Weeks 5 & 6

Half way through the internship there are mid-summer reviews, giving everyone you have worked with an opportunity to review your progress and suggest areas of developments for the remainder of the time. It’s also a chance to raise any issues you might have. Although most of what comes up is expected, its great to see what people actually think of your work and any criticism is always constructive and useful.
Even as a summer intern, you can see how quickly you are given responsibilities, work that I was being talked through every step of the way only a week or two ago, is now being left for me to complete on my own, however there is always someone who you can ask any questions.
Throughout the summer there are business briefing sessions, where senior members from other areas of the bank talk to the entire summer class about their business. They allow you to understand how the firm is split up and how your particular business effects/is affected by other areas. It also gives you a first point of call if you might be interested in a career in another division.

Weeks 9 & 10

To anyone looking into a summer opportunity, I would recommend considering Citi, it really is a fantastic opportunity. Citi is such a large institution which means that you are more likely to find a role at Citi that suits you than anywhere else. At the end of my summer internship I feel I can look back on an incredibly productive and enjoyable summer. I have learnt so much from some very talented people in such a small space of time and I can’t imagine a better team to have interned with.

Who we are looking for

We asked our investment banking recruiters to describe what makes a good candidate and what specific skills they are looking for.

Going forward we see our business continuing to flourish, and the challenges and opportunities facing our clients around the world mean challenges and opportunities for our people. We are looking for people who can face these challenges and help us to continue to succeed and meet our business goals.

We are unwavering in our commitment to investing in our Analyst programmes. We ensure that they have superior financial knowledge and are equiped with the necessary skills to successfully develop and maintain profitable client relationships.

We encourage applications from all backgrounds. We look for highly motivated individuals with strong academic performance and excellent communication skills. Having a genuine passion for the industry is crucial to becoming a successful Analyst.

Some of the key skills we look for are:

• an ability to work independently and in a team

• high levels of self-motivation and initiative

• a detail orientated approach

• superior relationship building & communication skills

• solid quantitative ability

• a strong desire to develop a sound understanding of the industry/environment

• creative & innovative problem solving

• ability to work under pressure on multiple projects

• a commitment to integrity and ethical decision making

With an ever-increasing international environment language skills are also an advantage.

 

Recruitment Process

Application Deadlines

We open for applications on 3rd September 2007. Applications are reviewed on a rolling basis so we would recommend that you apply as early as possible.

All applications must be submitted online.

The application deadlines are as follows:

Analyst Programme: 4th November 2007
Placement Programme: 4th November 2007 (for February Start Dates)
Summer Internship Programme: 20th January 2008 

Timelines

Analyst Programme: Our interview process for the full time programme will commence in October 2007.

Placement Programme: We have 2 start dates for placement programmes – an intake in February and one in September. The interview process for the 2008 February programme will commence in October 2007. The interview process for entry onto the 2008 September programme will commence in February 2008.

Summer Internship Programme: Our interview process for summer internships will commence in December 2007. 

Application Process

The application process is the same for all programmes. Below is an outline of the different stages of assessment from application through to offer:

Stage 1:  Review of Application 

Stage 2:  First Round Interviews 
               Two x 1:1 competency based interviews with Investment Bankers

Stage 3:  Assessment Centre:
               Three x 1:1 competency based interviews with Managing Directors and Directors from Investment Banking 
               Case study and presentation exercise

Stage 4:  Offer Extended

Please note:
First round interviews are usually held in the country of study (For the UK, all first round interviews will be held in London)
All assessment centres will be held in London (expect for direct hires in Frankfurt).

Where

Our EMEA (Europe Middle East and Africa) headquarters are based in London. The majority of our positions are based in London, however we also recruit Analysts into our offices in Frankfurt, Paris, Madrid and Moscow. Occasionally we also have positions in some of our other EMEA locations, please check the website for any new opportunities.

Stats on Citi in London:

Location? Canary Wharf, London

Employees? 10,000 are based in London.

What divisions? Invesment Banking, Corporate Banking, Global Capital Makets, Global Transaction Services, Technology, Operations, HR

How many Analysts? 200+ across all business areas

Stats on Citi in Paris:

Location? rue Paul Cézanne, Paris

Employees? 270 are based in Paris.

What divisions? Invesment Banking, Corporate Banking, Global Transaction Services

How many Analysts? 5-10 across these business areas

Stats on Citi in Madrid:

Location? C/ Jose Ortega y Gasset, Madrid

Employees? 220 are based in Madrid.

What divisions? Invesment Banking, Corporate Banking, Global Transaction Services

How many Analysts? 5-10 across these business areas

Stats on Citi in Frankfurt:

Location? Frankfurter Welle, Frankfurt

Employees? 460 are based in Frankfurt.

What divisions? Invesment Banking, Corporate Banking, Global Transaction Services

How many Analysts? 5-10 across these business areas

Stats on Citi in Moscow:

Location? Ulitsa Gasheka, Moscow

Employees? 3,000 are based in Moscow.

What divisions? Invesment Banking, Corporate Banking, Global Transaction Services

How many Analysts? 5-10 across these business areas

 

Our People

Saiyid Hamid BA (hons) Economics and Management, Oxford University Analyst

What advice would you offer prospective candidates on transitioning from school to the workplace?

Most of the useful skills that guide you through school and university still apply in investment banking - particularly managing your time and balancing numerous projects, being organised and proactive. Being able to maintain a work/life balance is still as important in an investment banking career as it is at university.

If asked about your career at a dinner party, how would you describe it?

We advise companies on their corporate and financial strategy, whether it is buying another company (M&A) or raising finance in the capital markets. As an analyst on a project team, I work on originating deals as well as executing them.

Describe the most memorable experience you've ever had at Citi.

There are too many to mention just one. Completing a deal within the first 3 months of joining was a great experience. I've also thoroughly enjoyed the social events including a team trip to Las Vegas and skiing in Italy.

What about your career excites you the most - gets you out of bed in the morning?

Knowing that I will be given real responsibilities on a daily basis, working on high profile deals as well as learning hard skills throughout from some of the best bankers in the city.

 

What do you consider Citi's competitive edge?

The uniquely strong culture throughout the investment bank which permeates through its smaller teams means that all members of the team are motivated and dedicated to delivering a top quality end product to the client

How would you describe your team and the people you work with?

Bright, motivated, peers that are hungry to learn and seniors that enjoy teaching and exposing junior bankers to exciting aspects of the job very early on.

 

How did your summer internship help you make the decision to pursue a career at Citi?

The summer internship programme is an outstanding way to get a flavour of investment banking in general and the specific role of an analyst. For me it was great to be part of a team I liked for 10 weeks and knowing that I could commit to a full time position of working on things I enjoyed with colleagues I respected and valued. Completing an internship gives you a massive advantage when making a decision about what you want to do after university.

Martina Lindh MSc in Business and Administration, Stockholm School of Economics and University of British Columbia Analyst

What about your career excites you the most - gets you out of bed in the morning?

There is no typical day within Investment Banking. This makes your work both interesting and challenging since you are constantly facing new problems and situations. It is very stimulating to every day have the opportunity to work with a variety of smart and highly motivated people on deals for some of the top companies in the region.

 

What do you consider Citi's competitive edge?

Citi’s competitive edge is without a doubt its size, global scale and extensive product offerings which allow the firm to compete for all kinds of deals in all parts of the world. 

How would you describe your team and the people you work with?

The people I work with are highly intelligent, motivated and fun. A large part of the work is team-based and you tend to work with people outside your own team on a daily basis. This gives you the chance to work with a great variety of people from all parts of the world and with different backgrounds. The diversity of people within Citi is amazing and very inspiring.

What other groups do you liaise with regularly within the Firm?

As I work in a regional coverage team (Nordic IBD), I have the opportunity to work with most industry teams within the Investment Banking division as well as capital markets and leverage finance. 

How do you apply your degree to what you're doing now?

Majoring in Accounting and Financial Management, I had the opportunity to study a range of different subjects that has been useful in my career within Investment Banking. Except for the classes in accounting and finance, I have also been able to apply critical thinking and teamwork skills, which I gained from School on a daily basis. My degree has given me a good theoretical background, but it is now I am learning how it works in practice.

What skills have you found to be the most useful in your position?

As an Investment Banking analyst it is important to have a good understanding of accounting and finance. However, teamwork and communication skills are by far two of the most important skills you need to possess in order to be successful.

How did your summer internship help you make the decision to pursue a career at Citi?

I got a very good introduction to Investment Banking during my ten weeks as a summer intern at Citi. It was also a good opportunity to get to know the firm and the people within it. My team really supported me and I was soon a part of various deals and projects. I found that I liked the work and also that the culture within Citi was a good fit for me. The decision to come back to Citi and to my team was easy.

Mar de Ros Degree in Business Administration and Degree in Law (Hons), University of Navarra Analyst

What advice would you offer prospective candidates on transitioning from school to the workplace?

The advice I would give to those candidates that are transitioning from school to a professional job is to think of the typical question that you can be asked in any interview: “Where would you want to be in 5 years time?” I would add something to this question: What kind of person would you want to become during this period?

As many people don’t know the answer to this question, at least examine yourself and see where you don’t want to be or who you don’t want to become. Then, see if the path that you are now following or about to embark on leads you to your goal. If it does: work hard, go for it and enjoy it! If it doesn’t, keep looking! There are amazing opportunities in this world!!

If asked about your career at a dinner party, how would you describe it?

We advise our clients on the possibilities they can have, either expanding their company by buying or merging with another player in the market or demerging part of their business that could be more profitable elsewhere... The good thing is that, not only do we give them this advice but we also tell them how to do it and we execute it if they give us their consent.

What about your career excites you the most - gets you out of bed in the morning?

What I enjoy about my career is that everyday you learn something new. You are given projects which involve companies that are always in the newspapers so the subject per se is interesting, then you work with different people from whom you can always learn new things, You are always able to do things better because perfection doesn’t exist... All those factors help me to get out of bed every morning!

 

What do you consider Citi's competitive edge?

I think Citi’s competitive edge is being a global bank and number one in most of its areas. It’s incredible to work for a bank like that where you know you have the support of good professionals and incredible resources. From east to west, wherever you are, you will be able to find the red arc which inspires confidence, integrity and good service.

What other groups do you liaise with regularly within the Firm?

It’s amazing when you stop and think about the different groups that you can contact during the day within the firm.

Not only the ones of in the same franchise around the World: New York, Paris, Frankfurt, Spain, Japan... but also other teams such as ECM, Leverage Finance, FEG, Emerging Markets...

The greatest thing about that is the good relations and team work that arises between those groups. I still remember one deal working with Emerging Markets, the New York office and some people based in Ukraine. The worst thing was trying to set a good time for the conference calls!

How do you apply your degree to what you're doing now?

I studied in one of the most highly regarded universities in Spain, the University of Navarra. I was very lucky because apart from learning law and business management (which were my two degrees) and trying to pursue excellence in the professional environment, the professors taught me with their example how to give and make the most of the people that surround you, how to behave with integrity in different situations and how to solve problems... Those are the skills I have been trying to apply in Citi more than legal concepts or financial skills. Of course being an expert on those areas is always useful, for instance, when a client wants to do an IPO or he wants to bid for another company it is very important to know how the “legal rules” work and run the model but those skills you can also learn during the Citi training program held for analyst and associates when joining the firm or from other colleagues that can teach you. However, learning how to think, how to act, how to be a good person among your colleagues is something that it’s not easy to learn if you haven’t had good models to follow.

What do you enjoy doing outside work?

If it’s just straight from the office, I love being with my family and friends in a nice and relaxed environment sharing the different events that have occurred during the day. On the weekends or holidays I enjoy all kinds of sports: jogging, tennis, sailing, skiing..., reading or being committed to any social activity such as volunteering.