Capital Markets: currently 430 jobs.The latest job was posted on 25 Sep 20.
How Capital Markets Work
Capital markets is a specialism within investment banking, in which the investment bank helps the client company choose and then raise capital in the form of either equity (shares) or debt (borrowed money).
Capital Markets Job Opportunities
Positions within the capital markets teams at an investment bank are usually divided up as follows:
An origination specialist is a senior position within capital markets. The role involves meeting with potential clients, understanding their capital needs, and securing their business on behalf of your bank. As an origination specialist you will need extensive industry knowledge and experience, excellent communication skills, and be willing to travel across the country, and often internationally.
Execution is actually doing the capital raising in conjunction with the client. This might involve coordinating with a stock exchange and a team including lawyers and accountants to put together a prospectus for an initial public offering (an IPO) to raise equity finance. Alternatively, it might mean putting together a suitably structured bond issue, or gathering a group of potential lenders together to enable the client to borrow the capital it requires.
Distribution and syndication
Distribution is essentially the sales function. Once the form of capital has been decided upon, and the administrative requirements satisfied (such as the preparation of a suitable prospectus), the capital providers need to be lined up. This is done by the distribution team and for big deals, usually involves syndication. The syndication team is responsible for finding and dividing up the capital raising between the participants. In an IPO or a bond issue this would be the group of banks that agree to sell the shares, in a loan this would be the banks that actually agree to lend portions of the money to the client.
Capital Markets Careers
More junior vacancies commonly found in capital markets are usually described as analysts, and tend to be based on the form of capital being raised - debt capital markets analyst, or equity capital markets analyst. With experience progression to mid-level positions in execution, distribution and syndication are possible, with the most senior roles being in the origination team.
To excel in a capital markets role you need to be confident analysing the numbers, have excellent communication skills, be able to work under pressure, meet deadlines and manage multiple projects at one time.