Six big steps for a graduate banker…
Step 1: university and training
Ten years ago: graduated and started on a training programme
After graduating from Bocconi University (Milan) with a degree in economics, I started work as a trainee at JPMorgan. My first job was as a junior trader in Milan on an interest rate derivatives trading desk. Later that year, I went to New York for six months to complete the rest of the training programme in global markets.
Step 2: an associate in foreign exchange markets
Eight to nine years ago: became an associate and gained responsibility
I became an associate and moved into a sales position in foreign exchange markets, structuring and selling foreign exchange linked products. Over a short period of time I was given a lot of responsibility for covering Italian clients and trading foreign exchange linked products with them. In 1998 I moved to London in this role when the team relocated. Although it was a similar job, the shift to a bigger environment allowed me to learn a lot from working alongside colleagues covering areas other than my own.
Being a team player is key to success in a banking environment.
Step 3: gaining exposure to new products
Seven to eight years ago: changed employer and learned about new products
I returned to Italy for personal and career reasons, working for Caboto (an Italian bank) on equity derivatives structuring. It was a ‘parallel’ rather than an ‘upward’ move. My aim was to gain exposure to and learn about new products and get into the equity derivatives business, which was big at the time.
Step 4: promotion to vice president
Seven to three years ago: returned to my first employer and was promoted
In mid-2000 I was asked back to JPMorgan and started to work on credit derivatives as an associate. A year later, I was promoted to vice president and worked as a credit derivatives marketer for Italian financial institution clients. I was in the right place because this was when credit derivatives really started to develop – and my team made Italy the most profitable of all our European markets. These were very successful years and we made JPMorgan the number one player in Italy. During this time, the business probably expanded by 400 per cent.
Step 5: applying experience to new markets
Two years ago: my role developed to cover emerging markets
My mandate was expanded to cover the whole of southern Europe and emerging markets such as the Middle East and Africa. Currently, I structure and market credit derivatives products and structured alternative investments for clients in these areas. It has been very interesting to apply what we’d done in Italy to other countries, and to apply my experience to less sophisticated emerging markets.
Step 6: becoming a managing director
This year: promoted to managing director
This year I was promoted to managing director, which was a big achievement. I’ve taken on extra responsibility, managing the business and a team of six people, and we’ve done well. I’m also a track manager for junior analysts in the bank: helping them to find direction at the beginning of their career, dealing with evaluation processes and any problems and being a point of reference. I help to put their training into place and they can always arrange to come and talk to me.
Tips from the top
When you are at university you tend to work by yourself, but one key to success in a banking environment is to be a good team player. ‘One plus one makes more than two’, as the saying goes. At the same time, you must always be entrepreneurial: while working in a team you must be active and make things happen yourself, rather than waiting for others. In big organisations you may feel that individuals can’t make a difference – but even at an early stage in your career, you can make a real difference by speaking out when you have something to say.
