Graduate recruitment season is in full swing at investment banks in Singapore. Most application deadlines for analyst and management associate training programmes have passed and students are now being interviewed.
But even as investment banks in the Republic recruit a fresh crop of graduates and MBAs straight out of university, they are also increasing their poaching of people just above those levels – analysts and junior associates from rival banks – for jobs that sometimes require only one or two years’ IB experience.
While senior front-office vacancies for bankers and traders are almost non-existent at global banks, especially in the fourth quarter, roles for younger professionals continue to open up.
“Analyst and associate external hiring has been the sweet spot in Singapore IB this year and still is, even in Q4 when the job market is typically more subdued,” says an investment banking headhunter. “Like elsewhere, banks are cost cutting at the senior level, and in a small IB market like Singapore it’s even harder to justify expensive hires.”
Our new review of the careers sites of major foreign banks in Singapore found several analyst and associate positions still on offer, despite impending bonus payments. Here’s a selection.
BNP Paribas, analyst, ECM
One to two years’ experience (with some of it ideally in ECM) and the “ability to analyse companies from a credit and equity perspective” are what you need for this role. Once in the job, you will be drafting client marketing materials, coordinating investor meetings and feedback, and helping with deal generation, pricing, allocation and settlement.
Citi, interest rates and derivatives trader, institutional clients group
Citi, which boasts the largest headcount of any foreign bank in Singapore, has three trading vacancies open within its institutional group. This one demands five years’ experience in Asian-currency rates trading, suggesting it’s at associate level. You will also need a “thorough understanding of macro-economic trading frameworks and drivers of markets”.
Deutsche Bank, origination enabler, analyst, corporate finance
You will “work closely with industry sector, product and country teams” on capital raising services, and M&A and restructuring advisory. You will be tasked with evaluating companies, developing models for M&A transactions, preparing industry analyses for pitches, and deal-execution support.
Goldman Sachs, analyst, ex-China coverage
Have you clocked up just one year at another investment bank? Here’s a rare opportunity to join Goldman as an ‘experienced’ analyst, bypassing its grad programme. Responsibilities include analysing financial models, preparing client presentations, and helping to structuring transactions. Knowing an Asian language is “beneficial”, and experience of working in M&A or real estate IBD is preferred.
Standard Chartered, associate, industry banker
While the actual industry is not mentioned in the vacancy, Stan Chart ideally wants “experience in a top-tier investment bank with a track record in structured debt, project finance, M&A, capital markets, financial markets or structured trade”. The job involves performing valuation analyses, building detailed financial models, and assessing the “impacts of different capital structures and potential M&A transactions”.
UBS, investment banking analyst
UBS ideally wants “some” experience in investment banking or corporate finance, but has not spelt out how much. You must have “solid financial analysis skills”, and be able to “produce accurate presentation material quickly”. A Southeast Asian language is a plus.
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