Who are bankers?
Discussion on investment and retail banking, equities, trading, derivatives, consultancy.
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Re: Who are bankers?Take the tube around Central London late at night. You will see a bunch of guys still in their suits and ties because they have only just finished their day's work. They look stressed and worrisome as if they have the weight of the world on their shoulders...(Original post by . . .)
I constantly hear and read about bankers and "investment bankers". But I and a lot of other laymen probably don't actually know who they are or what they do.
Those people are bankers! -
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Re: Who are bankers?Wrong! No Bankers would demean themselves by using public transportation.(Original post by David9)
Take the tube around Central London late at night. You will see a bunch of guys still in their suits and ties because they have only just finished their day's work. They look stressed and worrisome as if they have the weight of the world on their shoulders...
Those people are bankers!
For anyone higher than an Analyst, they will have a BMW/Porsche or hire their own personal chauffeur
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Re: Who are bankers?Those people are accountants.(Original post by David9)
Take the tube around Central London late at night. You will see a bunch of guys still in their suits and ties because they have only just finished their day's work. They look stressed and worrisome as if they have the weight of the world on their shoulders...
Those people are bankers!
Banks still pay for the taxis for their staff. -
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Re: Who are bankers?This.(Original post by prakashpatel4579)
Wrong! No Bankers would demean themselves by using public transportation.
For anyone higher than an Analyst, they will have a BMW/Porsche or hire their own personal chauffeur
Bankers will live centrally and drive a nice car to work. So you don't really see them in 'real life' on the streets like the rest of us.
Edit - [Surely there aren't any bankers on this forum giving me negs?]Last edited by jpye11; 09-06-2012 at 19:36. -
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Re: Who are bankers?Who the **** drives in central(Original post by jpye11)
This.
Bankers will live centrally and drive a nice car to work. So you don't really see them in 'real life' on the streets like the rest of us.
Which is exactly how they like it! -
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Re: Who are bankers?I think this is a very fair question.
Investment Banks are pretty ridiculous in size, to the extent that sometimes you won't strictly know what someone at one end of a row actually does, let alone someone in an entirely different building.
For the lay person, I'd split it up (keeping it very simple) as follows:
Investment Bankers: These guys specialise in helping companies raise capital or improve their business. They suggest raising capital by doing something like an IPO (where a company issues shares and the owners relinquish some control of the company to the general public) or by help a company to raise debt (e.g. By mortgaging a building they own). Their business improvements usually lie in convincing Firm A to buy Firm B. They try to spot "synergies" (bits of each firm which would help bits of the other perform more effectively). In order to do this effectively Bankers should be able to value companies very well and identify what pieces of a company on paper are the most productive and valuable.
On the other side you've got Bankers who work in markets. These guys speak to all types of clients (but broadly speaking, it's corporations and other investors). These bankers, for corporations, often provide an obvious service. For example, U.S company borrows money in the U.K. but wishes to repay the debt in USD and be protected against fluctuations in the GBP/USD rate. In the case of Investors, they help provide them an opportunity to invest in either the long or short term. These banks employ sales people who know lots about the wide market who can help to identify opportunities for a wide variety of clients. Once the sales person gets an investor onto an idea they like, it's up to the Bank's traders to execute the business and to try and make money from the risk which any trade generates.
These are the main 'front' office roles. Beyond this you have Middle and Back office. They essentially help the business the tick over and function properly. They deal with making sure money gets sent from the Bank to clients and vice versa, and make sure that the bank isn't dealing with particular clients too much (i.e. Exceeding credit limits).
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Re: Who are bankers?Bankers! They have underground parking at the offices, and the congestion charge is nothing to them.(Original post by KLL)
Who the **** drives in central
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Re: Who are bankers?no... bankers use public transport to get to work, generally the ones leaving late have company taxis to take them from work.(Original post by jpye11)
Bankers! They have underground parking at the offices, and the congestion charge is nothing to them.
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Re: Who are bankers?So these main front office roles are the ones we constantly hear people complaining about?(Original post by Kerpal)
I think this is a very fair question.
Investment Banks are pretty ridiculous in size, to the extent that sometimes you won't strictly know what someone at one end of a row actually does, let alone someone in an entirely different building.
For the lay person, I'd split it up (keeping it very simple) as follows:
Investment Bankers: These guys specialise in helping companies raise capital or improve their business. They suggest raising capital by doing something like an IPO (where a company issues shares and the owners relinquish some control of the company to the general public) or by help a company to raise debt (e.g. By mortgaging a building they own). Their business improvements usually lie in convincing Firm A to buy Firm B. They try to spot "synergies" (bits of each firm which would help bits of the other perform more effectively). In order to do this effectively Bankers should be able to value companies very well and identify what pieces of a company on paper are the most productive and valuable.
On the other side you've got Bankers who work in markets. These guys speak to all types of clients (but broadly speaking, it's corporations and other investors). These bankers, for corporations, often provide an obvious service. For example, U.S company borrows money in the U.K. but wishes to repay the debt in USD and be protected against fluctuations in the GBP/USD rate. In the case of Investors, they help provide them an opportunity to invest in either the long or short term. These banks employ sales people who know lots about the wide market who can help to identify opportunities for a wide variety of clients. Once the sales person gets an investor onto an idea they like, it's up to the Bank's traders to execute the business and to try and make money from the risk which any trade generates.
These are the main 'front' office roles. Beyond this you have Middle and Back office. They essentially help the business the tick over and function properly. They deal with making sure money gets sent from the Bank to clients and vice versa, and make sure that the bank isn't dealing with particular clients too much (i.e. Exceeding credit limits).
Hope this helps! -
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Re: Who are bankers?true dat.(Original post by Teenage Pirate)
no... bankers use public transport to get to work, generally the ones leaving late have company taxis to take them from work.
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OP you're reason for splitting up investment banks is poor. Is there really that much confusion front office? -
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Re: Who are bankers?My reason for splitting up investment banks? What?(Original post by Low Profile)
true dat.
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OP you're reason for splitting up investment banks is poor. Is there really that much confusion front office?
I just wanted to know who the media are referring to when they talk about investment bankers. -
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Re: Who are bankers?Well I suppose it depends on where you work, but the people I know that are working in banking and consultancy get to work by car.(Original post by Teenage Pirate)
no... bankers use public transport to get to work, generally the ones leaving late have company taxis to take them from work. -
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Re: Who are bankers?I guess it's a lot of IBD roles which people complain about, they require 100 hour weeks sometimes which I don't think anyone could handle easily.
I don't think that many sales/traders complain about their jobs. It's early starts but you know when you'll leave the office almost everyday.
Most bank car parks aren't big enough to house anyone who has a car, at most of the big firms the car park is reserved for people of a certain seniority. I promise you most bankers take the tube into work.
Don't buy into the myths about bankers dropping cash like there's no tomorrow. Particularly in the last 5 years, everyone in the market has become very aware that our shelf life can be short. Most bankers with any brains realise that a City career on average is at best 10 years and are buying homes and other investments to try and make a return on their cash. Very few are stupid/desperate enough for attention that they're out spending 5k on a table at a night club in the west end. -
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Re: Who are bankers?Why are the careers so short?(Original post by Kerpal)
I guess it's a lot of IBD roles which people complain about, they require 100 hour weeks sometimes which I don't think anyone could handle easily.
I don't think that many sales/traders complain about their jobs. It's early starts but you know when you'll leave the office almost everyday.
Most bank car parks aren't big enough to house anyone who has a car, at most of the big firms the car park is reserved for people of a certain seniority. I promise you most bankers take the tube into work.
Don't buy into the myths about bankers dropping cash like there's no tomorrow. Particularly in the last 5 years, everyone in the market has become very aware that our shelf life can be short. Most bankers with any brains realise that a City career on average is at best 10 years and are buying homes and other investments to try and make a return on their cash. Very few are stupid/desperate enough for attention that they're out spending 5k on a table at a night club in the west end. -
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Re: Who are bankers?You get laid off often or burn out. I remeber an MD with c. 15 years experience telling me he got fired 5 times during his career.(Original post by . . .)
Why are the careers so short?
