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Why you want to work in DCM, by an MD at Deutsche Bank

Deutsche Bank DCM

Emergencies only after working hours

Maryam Khosrowshahi is an MD and head of public sector debt coverage for Central Europe, the Middle East and Africa (CEEMEA) at Deutsche Bank. She spoke to us about the delights of a DCM career. If you’re interested in helping governments raise money, this is what you need to know.

So, what does your job entail exactly?

“I am in charge of arranging bond issues for our government clients in Central Europe, the Middle East and Africa. My client is usually the ministry of finance. I assist them with their debt management strategies or help them arrange financing on the international bond markets.

What would a debt management strategy involve?

“If a client already has outstanding debt, we might help them change its maturity schedule, for example.”

Can you describe a typical day?

“A lot of talking to clients on the phone! I speak on the phone so much that when I go home, I only take calls – whether personal or business – if urgent. I talk a lot about the status of clients’ deals and what’s going on in the markets. We also have a lot of internal calls and meetings related to control functions like compliance.”

Do you travel much?

“Oh yes, there’s travelling too! For the past few weeks I’ve flown to Africa or Eastern Europe or Central Europe every week. I travel to visit clients and discuss new ideas for deals we can execute. And when a deal comes to market I will travel to accompany our issuers to meet investors.”

How did you come into this role?

“I went to college in the US and was always very intrigued and interested in banking. I started my career in New York and moved to London to cover CEEMEA just as the bond business for this region was taking off. Since then, I’ve stayed with it. I’ve known a lot of the people we deal with for a long, long time! Governments change, but the technocrats supporting them tend to stay the same.”

What’s the most interesting thing that happened recently?

“It has to be the events in Greece. The outcome there will have an influence on government bond issuance across CEEMEA. Right now, we’re still watching and waiting to see how it pans out.”

How does the role of an analyst, associate, VP and MD differ in your business area?

“When you start as analyst it’s really about offering support as we prepare for deals. As you become more experienced, you will have more direct exposure to clients. I try to be as inclusive as possible though – accountability is important and only when junior staff are included in the whole process will they really feel a part of it.”

What makes your role particularly interesting?

“You’re close to sovereigns. You can make a difference in terms of how countries can address the challenges in their economies. You get real exposure to what’s happening in the world.”

 

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