What can you do if you’re a senior salesman within an investment bank with 30 plus years of experience who finds themselves out of the market after your employer makes some big cuts?
In the case of Chris Fleming, who was a managing director and head of global markets EMEA sales at Nomura until August this year, the answer is to set up a website to impart your pearls of wisdom.
Fleming is in the process of setting up MentorXchange, which aims to match those with relevant experience who can act as mentors with those requiring career advice or guidance. The plan is to launch the company in April this year.
Fleming worked at Nomura for nearly seven years, initially as global head of rates sales and was also global head of macro sales. Before joining Nomura, he was European head of interest rate sales at Royal Bank of Scotland from 2004-2010 and worked at UBS before this.
Filings for MentorXchange on Companies House suggest that Fleming’s co-founder is Craig Butterworth, who moved into a new role at Nomura in November. He is now a managing director and global head of client eco-system.
Sales jobs in investment banks are changing rapidly. Aside from the fact that banks are getting rid of less profitable clients, and therefore need fewer sales staff, investment banks are also making the whole process more data driven and increasingly simply acting as intermediaries rather than market-makers. The skills required by banks have therefore evolved fairly rapidly and fewer opportunities are available.
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