Graduate Case Studies - Morgan French -Deutsche Bank - Foreign Exchange
Morgan French
Age: 22
Degree: Master's in Physics, 2.1, Cambridge University
Year of graduation: 2006
Occupation: Analyst in complex risks trading (foreign exchange) at Deutsche Bank
What do you do in your job?
After I joined the bank in July last year, I had two months of classroom training, followed by four months of rotating through different business areas. At the end of that, recruits get matched up to a permanent position that suits their interests and skills. So at the end of January, I was placed in the foreign exchange department - specifically in complex risks trading. In my rotation placement here, I'd learned how to price the complex products that we trade, and had been taught about the foreign exchange market generally. In particular, I was given the opportunity to trade currency and experience making and losing money, which is an important part of trading. Now, when a price request comes in from the sales team at the bank, it's my job to price up the products and work out how much money we'll take out of the transaction - looking at the level of risk involved. I also do a small amount of trading.
What was your motivation in applying?
I wanted an opportunity to work in markets because I like the way they are news-driven and an integral part of the story of the world. I was also attracted to the fast pace of trading and the fact that everything can change in an instant. Finally, I wanted the opportunity to use the skills I'd learned in my degree - such as analysis, problem-solving and maths - in a financial context. Deutsche Bank appealed because it's well known as a trading bank and has a fantastic reputation.
What did the application process involve?
Initially, there was an online application with questions such as "Why investment banking?" and "Why do you think you'd be good at it?" Then there were two interviews and a maths and verbal reasoning test. Following that, there were another three interviews, which were much more
technical and focused on what I knew
rather than who I was.
What do you enjoy about your job?
The people I work with and the opportunity to take on a large amount of responsibility very early in my career. It's great to be trusted to do important jobs, and that my views on things are seen to really matter.
Most challenging part of your job?
The fact that there is no room for mistakes, even minor errors, because they can be so costly. So you have to maintain extremely high attention to detail all the time.
Advice to readers considering a career in your field?
Apply for an internship. Not only do recruiters rate them highly, but they're also beneficial in ensuring you have a good idea of what the banking environment really involves. They're useful for when you actually do the job later on, too.
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