Emuejev:

@ jarus and t-cann,

this is the second time am asking, i really hope you guys reply,

new graduates like me dont have all the information concerning these investments banks and some other good places that we can work,

i have interviewed with kpmg and they ve kept me a waiting list and how long that is i dont know,

so please if you guys can steer us towards the right direction by giving us insiders info, it would really be appreciated.

i have already checked out some of the websites and just no luck applyin

First, I'm no longer in the investment banking system.
But by the way, don't forget that there has been a lull in the labour market generally since the meltdown. Things are coming back now, but most companies have suspended or at least slowed down on their recruitment activities.

If you are in Lagos, you just have to go to their offices and drop your CVs.

First, I'm no longer in the investment banking system.
But by the way, don't forget that there has been a lull in the labour market generally since the meltdown. Things are coming back now, but most companies have suspended or at least slowed down on their recruitment activities.

If you are in Lagos, you just have to go to their offices and drop your CVs.

Jarus, i was at Vetiva yesterday and i met the boss and the other peeps

clean place. but why are they in that hideout?

tkb417:

Jarus, i was at Vetiva yesterday and i met the boss and the other peeps

clean place. but why are they in that hideout?

Yeap, Vetiva is a very cool, clean place.

Hideout? I also wonder o. No signpost, nothing, until you enter the compound before you see anything Vetiva. You won't even know a company is in that corner. I think it's their own style, just want to be different.

Jarus:



WORK ENVIRONMENT: Stressless. Closing is 4pm.

Rrreaalllly?

@ all

Please can anyone in the house give me a job lead in these firms?
I have five years experience in the banking sector b4 my recent MSC in International Finance from a Business School in Europe.
I am coming back home next week and do not want to go back to the banking industry.I prefer an investment/asset management coy relevant to my recent training.I am also on track for the CFA 1 and the professional Risk Managemnt exams.
I will appreciate any useful links
Thank you all.

@Babalawo
Just come back home and submit ur cvs in the organisations you would like to work. Things are on the low presently but you can still nick an offer from the inv. Banking outfits around

@Tkb417
Thanks for ur reply.
I have actually submitted online to three of these firms but no response yet does it make any diff submitting in person?
Like I said am ready on my way home and will be paying visits to these companies by June ending.
Thank you

Emuejev:

@ jarus and t-cann,

this is the second time am asking, i really hope you guys reply,

new graduates like me dont have all the information concerning these investments banks and some other good places that we can work,

i have interviewed with kpmg and they ve kept me a waiting list and how long that is i dont know,

so please if you guys can steer us towards the right direction by giving us insiders info, it would really be appreciated.

i have already checked out some of the websites and just no luck applyin

@EMUEJEV
Though am not an expert in IB, am just an ACA with a knowledge of finance(hopefully to make a career in IB soon), but from from ur post,i can deduce that u need to run a short test about what u really want to do, the idea is that most of us more often than not,get it wrong in choosing our courses of discipline at the JAMB entry pnt, but it shdnt be so again after graduating from that course, in looking for a job or charting a career path.

now,the ques are;
1-what is ur course of study,bsc level? (tho it doesnt really matter these days again)
2-what do u really want to do, that wont 'suck' to you,for d next 6-10 yrs.
3-what steps are u taking to improve yourself towards achieving a slot in that career path?
4-how deep and consistent are ur information researching and networking efforts as regards that career inwhich u really love to do.
5-how often do u change ur mind on a particular 'chosen' path,only to fall for d new in thing, and dump the former.

NB, dont forget, nobody reallly in the strict sense of the word, attended a nigerian university at Bsc level, to study investment banking, guys there either found themselves there and developed a passion;or developed the requisite skills to function in the industry and secured a place; or just tagging along in the name of 'doing a job'.so if u can see urself in it,then u can achieve it, just believe and work towards it!!
I hope this helps out a little,peace.

@others
tbk, genius jarus(new christening)lol, seun, azigazi, loma et al. how now? intelligent posts here. sorry,i ve been a little out of the thread cos of my friend's wedding that i had to serve as the bestman, ve been running around with the groom all week to tie last loose ends,thank God, d two have become one finally today, cant find a better way to relax from that week-long stress but to say hi to my peeps here at NL. am off to to rest, later,cheers.

@ all
with respect to the NIB-Nigerian Investment Banks,do they provide Liquidity in the secondary fixed income market?How deep is the fixed income/Bond market in Nigeria.

The global Bond market has seen a lot of activities as a result of the equity meltdown is it the same in Nigeria?.

I dont really hear Nigerians talk about investing in Bonds,but the effects of the current financial crises has shown that Fixed income asset class is key for a diversified portfolio.

Do the Nigerian corporates raises money through Bond sales or is it only through the Equity market alone?

I will like to know which of these companies have a stronghold in bond trading.any Nigerian PRIMCO?

I also read in the financial times of the government intension of floating some billion naira bonds, any update on this will be appreciated

Anyone used to the DMO-debt management office here?

Thanks
Babalawo

reading this thread is the most informative and interesting thing on NL, it makes IB seem so much fun. i ve just written the CFA 1 exams in june, and boy i had a though time sinking in the whole curriculum since im not into investment banking. its always alot easier when u read what you deal with and practise. however it was a worthwhile experience as  it gave me a lot exposure and i definitely hope to leave banking operations and become an IBer.

kp up with the intellectual comments!!!

@ all
with respect to the NIB-Nigerian Investment Banks,do they provide Liquidity in the secondary fixed income market?How deep is the fixed income/Bond market in Nigeria.

Ol boi, the Nigerian fixed Income market i can say is developing. Just like you know, the whole financial market is just evolving whilst we are at trying to pick one or 2 things from our developed folks. The government debt instruments are already a GIVEN in the 9ja fixed income market.

Presently, some state Govts in 9ja have been raising cash through the issuance of bonds and ill say the Lagos state bond that was raised were snapped up in a record time. The govts of Rivers, Delta and i think Enugu are also in the process of completing their bond issuance. These activitie are already deepening the market. Its just a gradual process, we'll get there.

The global Bond  market has seen a lot of activities as a result of the equity meltdown is it the same in Nigeria?.

yes o, just like i just explained. State Govts are taking the initiatives and the ball has already been set rolling

I

dont really hear Nigerians talk about investing in Bonds,but the effects of the current financial crises has  shown that Fixed income asset class is key for a diversified portfolio.

Do the Nigerian corporates  raises money through Bond sales or is it only through the Equity market alone?

I will like to know which of these companies have a stronghold in bond trading.any Nigerian PRIMCO?

I also read in the financial times of the government intension of floating some billion naira bonds, any update on this will be appreciated

i dont have updates but a lot of corporate organisations are into debt. ive done quite a bit of this in the past 7 months.

Anyone used to the DMO-debt management office here?

one of ma friend worked there b4 moving to a commercial bank. Office is in Abuja
what about them? you can read up on the net i think

@ TKB417

Thanks so much for your reply.I think i need to link up with u if u don't mind , ntemitope@yahoo.com ,u can add me and Iwill get across.

My flight is first tomorrow morning back to 9ja after my studies I pray for work sharp sharp in these companies,enough of the banking operations stuffs I pray-the prospect and self development in this career path is immense even if the pay is lower!!!
Thank you.

How are this state governments going to recoup the funds to repay this investors the attractive interests that will be placed on the loans?  

I just hope this governors are not going to inadvertedly turn Nigeria into a tax-heavy state, leading to the stress and unhappiness seen in the West.

Not everything being done in the West is good and must be copied. Especially their ridiculous philosphy on economic empowerment and growth.

babalawo:

@ TKB417

Thanks so much for your reply.I think i need to link up with u if u don't mind , ntemitope@yahoo.com ,u can add me and Iwill get across.

My flight is first tomorrow morning back to 9ja after my studies I pray for work sharp sharp in these companies,enough of the banking operations stuffs I pray-the prospect and self development in this career path is immense even if the pay is lower!!!
Thank you.

ok sir! i'll add you.
when you get here, you'll surely get a place to fix urself
brilliant people dont roam the streets. (ma opinion)

Ur past experience and ur new degree will surely pave way for good tidings
come and the market will be receptive

Sagamite:

How are this state governments going to coup up the funds to repay this investors the attractive interests that will be placed on the loans?

I just hope this governors are not going to inadvertedly turn Nigeria into a tax-heavy state, leading to the stress and unhappiness seen in the West.

Not everything being done in the West is good and must be copied. Especially their ridiculous philosphy on economic empowerment and growth.

Sagamite
I dont see anything wrong in State Govts issuing bonds for developmental projects
Like we all know, Govts are not set up to run for profits so they defintely will be able to meet up with their repayment obligations

and on a serious note, i was at an infrastructural summit last year in Abuja where i happened to be one of the human resources used. The summit had in attendance the who is who in the private and public sector. Private organisations like ARM, Rencap, Vetiva, Phillips Consulting, BGL, Olaniwun Ajayi, Udo Udoma and co, Zenith Bank, UBA and co had their MDS or their CEOs in attendance. (The list goes on). On the Public side, we had Fashola, The Federal Ministers and some other state governors in attendance.

Gurus like Andoaka, Soludo, World Bank Country Rep, the head of DMO, pwC country Rep, Elebute (KPMG managing partner), Foluso Phillips and a lot of people i cant remember gathered at Transcorp for 2-3 days to fashion a way out for the country.
It was a GIVEN that the Government alone cannot solve the infrastructural deficiencies of this country and the Public Private Pratnership initiative was agreed to be the way out.
Lagos State had already taken the front seat in this regard with the number of projects they are running with the private people in order to alleviate the problems in this country. Mind you, the PPP model isnt just about project delivery and management, it also encompasses fund raising!

If the state governments can raise capital from the private sector to fund their developmental projects, why not? Any discerning state government will not wait for any FED allocation to initiatie and execute developmental projects. The issuance of bonds is one of the numerous mechanisms our state governments can take to shore up any allocation from the central. These govts i presume are taking these initiatives for the overall development of this country.

I dont see any wrong in what they are doing yet!
let us laud these moves as these are steps in the right direction.

my opinion tho

tkb,

The key question is how do the gov intend to repay the loans?

Do the projects have an income stream? And if they do, how is this structured? And is the infrastructure a neccesity (e.g. water)? If so are the charges to the public really affordable, and conveniently so, for a vast majority of the people? Do the public (utilisers of outcome of project infrastructure) have any substitute if these are beyond their reach?

This are the key questions that will bother me that I hope the government has addressed before utilising high finance for public infrastructure. Investment banking has a culture of only looking for how to line their pocket (profit, profit, profit), not for public good, so if one has to dine with them, alot has to be assessed in detail by people that are relatively as smart as them.

Sagamite:

tkb,

The key question is how do the gov intend to repay the loans?

Do the projects have an income stream? And if they do, how is this structured? And is the infrastructure a neccesity (e.g. water)? If so are the charges to the public really affordable, and conveniently so, for a vast majority of the people? Do the public (utilisers of outcome of project infrastructure) have any substitute if these are beyond their reach?

This are the key questions that will bother me that I hope the government has addressed before utilising high finance for public infrastructure. Investment banking has a culture of only looking for how to line their pocket (profit, profit, profit), not for public good, so if one has to dine with them, alot has to be assessed in detail by people that are relatively as smart as them.

hehehehe
ure not serious o

hmm, i was trying to say some of the bonds being used are being deployed to developmental projects that will be run by private entities (not govt officials)
all your questions are relevant and i tell you, the chaps running the projects and the instruments have asked these questions.
This is a new dawn. You need to come to 9ja soon and see how things are moving

"we" are not only looking to line our pockets but we are committed to some CSR in our own capacity. Running compelling business cases is not the only thing that attracts people like us, we are also committed to doing deals that will alleviate the suffering of the people.

The govt. will repay the loans through well thought out identified income streams from these projects and talking about affordable infrastructure; i dunno your defination of affordable but i know its within the reach of those that will make use of the infrastructures
These things are dilapidated and the only way outta it is to tax people to get it revamped and then things can shape up

On the issue of tax, i think its a necessary evil and thier is nothing we can do to it for now

Sagamite:

tkb,


Investment banking has a culture of only looking for how to line their pocket (profit, profit, profit), not for public good, so if one has to dine with them, alot has to be assessed in detail by people that are relatively as smart as them.

Why do u think they re in biz in the 1st place? elementary business studies!!-LOL, am sure u dont want to know what they do in order to make your deals and offerings go right properly.let me give u a tip of the iceberg-for instance,the govt bond thingie,

due diligence reports,
approval from SEC.
compliance with SEC rules and regulations(as amended) and follow all procedures.
DCF Analysis and modelling (ask TBK abt Black-Scholes modelling)
computing the cost of debt.
sensitivity analysis.
calculation of d debt beta.
Mgt of all principal players in the deal
Introduction of the securities.
preparation of offer document and filing of same as appropriate.
underwriting of under subscribed securities. ETC

dnt even think about it, smart pple as them will be in the industry too.

T-Cann:

[/b]

Why do u think they re in biz in the 1st place? elementary business studies!!-LOL, am sure u dont want to know what they do in order to make your deals and offerings go right properly.let me give u a tip of the iceberg-for instance,the govt bond thingie,

due diligence reports,
approval from SEC.
compliance with SEC rules and regulations(as amended) and follow all procedures.
DCF Analysis and modelling (ask TBK abt Black-Scholes modelling)
computing the cost of debt.
sensitivity analysis.
calculation of d debt beta.
Mgt of all principal players in the deal
Introduction of the securities.
preparation of offer document and filing of same as appropriate.
underwriting of under subscribed securities. ETC

dnt even think about it, smart pple as them will be in the industry too.

I can't see any non-financial benefit analysis or maximising social benefit analysis on the list, which is my point.

Believe me, some incredibly smart people choose not to work in high finance, some are doctors, management consultants and even civil servants.

You need to meet some of the Civil Servants (the senior ones) in the UK and know how smart they are, they are like El-Rufai.

T-Cann:

[/b]

Why do u think they re in biz in the 1st place? elementary business studies!!-LOL, am sure u dont want to know what they do in order to make your deals and offerings go right properly.let me give u a tip of the iceberg-for instance,the govt bond thingie,

due diligence reports,
approval from SEC.
compliance with SEC rules and regulations(as amended) and follow all procedures.
DCF Analysis and modelling (ask TBK abt Black-Scholes modelling)
computing the cost of debt.
sensitivity analysis.
calculation of d debt beta.
Mgt of all principal players in the deal
Introduction of the securities.
preparation of offer document and filing of same as appropriate.
underwriting of under subscribed securities. ETC

dnt even think about it, smart pple as them will be in the industry too.

getting approvals from SEC can be annoying T-cann

I can't see any non-financial benefit analysis or maximising social benefit analysis on the list, which is my point.

Believe me, some incredibly smart people choose not to work in high finance, some are doctors, management consultants and even civil servants.

You need to meet some of the Civil Servants (the senior ones) in the UK and know how smart they are, they are like

what do u do sef saga?
i know u know Balanced Scorecard in and out.
are you a mgt consultant? i need to know how i can tackle you too

anyway, i totally agree with your sentiments/points
very valid.

tkb417:


what do u do sef saga?
i know u know Balanced Scorecard in and out.
are you a mgt consultant? i need to know how i can tackle you too

anyway, i totally agree with your sentiments/points
very valid.

Oloshi, I am charity worker that provides shelter to the homeless and feed poor, innocent orphan kids all week. In the weekends, I am a reverend father. 

Beat that, yab me. 

See link:

https://www.nairaland.com/nigeria?topic=49010.msg2489213#msg2489213

I think saga is a socialist and really not at home with IB and its capitalist posture

But even the so called fall of capitalism as examplied by the current crises still shows clearly that total socialism is not an option!

with regards taxes, the early Nigerian are taxed heavily the better-its just the bitter truth I worked five years in Nigeria and I don't even know how much I pay monthly or yearly as tax, heavy taxation makes the citizens keep an eye on the government, for instance if you pay 20% tax,you will be on alert on how these monies are spent as opposed petrodollars from heaven knows where!

Me, I no be socialist o.

I am a socio-capitalist.

I believe in aspects of capitalism but hate the plenary execution of the principles.

I believe in aspects of communism/socialism but hate the plenary execution of the principles.

I believe a state should implement principles that balance the best of both, like most Scandinavian countries do.

@saga

and what will u call the bailout of capitalism by the US government? capitalism riding on the back of socialism?

We all know its a question of Moral Hazards but Ur cited example of socia-capitalist i.e Scandinavian states hasn't proved as successful as the US
and even in the socia-capitalist states institutions can become so laden and bad, rem the banking crises in Sweden ?

I believe in capitalism but capitalism that is socially responsible!!! survival for the fittest support for the weakest!!! in these frame the govt will act as the last resort for socialism

I know u may ask the capitalist makes all the money when its all good then when all goes soar the loss is shared by all but where were the socialist when the boom was on.?, were they really idle NO, they sure got some reward even if it was residual.

Thank you

babalawo:

@saga

and what will u call the bailout of capitalism by the US government? capitalism riding on the back of socialism?

What did I think of the bailout?

It was necessary and was the right thing to do.

But moving forward, my opinion, I will expect very intense regulation (funded by the banks) but which still leaves room for financial innovation and I will expect the introduction of a surcharge tax (i.e. extra significant tax) on firms that have reached a size, or allow itself to reach a size, that the state can not allow it to fail. As well as a review of the rewarding culture.

The industry cannot enjoy all the benefits/profits alone and think they are Gods and the most intelligent living things on earth when things are good, and then expect the people with lower intelligence to bail them out when things are bad and share in the loss.

babalawo:

We all know its a question of Moral Hazards but Ur cited example of socia-capitalist i.e Scandinavian states hasn't proved as successful as the US
and even in the socia-capitalist states institutions can become so laden and bad, rem the banking crises in Sweden ?

What do you term as success? Making money?

Sagamite:

What did I think of the bailout?

It was necessary and was the right thing to do.

But moving forward, my opinion, I will expect very intense regulation (funded by the banks) but which still leaves room for financial innovation and I will expect the introduction of a surcharge tax (i.e. extra significant tax) on firms that have reached a size, or allow itself to reach a size, that the state can not allow it to fail. As well as a review of the rewarding culture.

The industry cannot enjoy all the benefits and think they are Gods and the most intelligent living things on earth when things are good, and then expect the people with lower intelligence to bail them out when things are bad.

What do you term as success? Making money?

Capitalism has developed:

1.The Human resources in the US- the most innovative workforce in the world.
2.Investment attractiveness, still the whole world doesnt have anywhere as attractive to invest as the US

these are my success index.

babalawo:

Capitalism has developed:

1.The Human resources in the US- the most innovative workforce in the world.
2.Investment attractiveness, still the whole world doesnt have anywhere as attractive to invest as the US

these are my success index.

Success to me, when judging a state and its government is the aggregate proportion of the state's population that lives a happy and fulfilled life.

Most Scandinavian countries beat US hands down on this.

Economic growth is not everything in my opinion.

I must say, your answer is typical of any well-trained Finance guy.

@Saga
Ill agree with you that success should be based on the general wellbeing of the citizenry but wait; who says capitalism cannot ensure that? Since I don't live in a strictly capitalist economy, ill say success of the government in Nigeria will be partnering with the private sector to generate wealth and also equitable distribution of the wealth generated amongst all and sundry.
That's my own lil defination of success.

tkb417:

@Saga
Ill agree with you that success should be based on the general wellbeing of the citizenry but wait; who says capitalism cannot ensure that? Since I don't live in a strictly capitalist economy, ill say success of the government in Nigeria will be partnering with the private sector to generate wealth and also equitable distribution of the wealth generated amongst all and sundry.
That's my own lil defination of success.

Equitable distribution? Na beans, for where? 

Except you are saying the government will introduce compulsory military service so most people can be Generals, as equitable distribution of national cake only goes to ex-Generals. 

Fact is, some select few people are going to make a killing from these deals because of there networks and/or societal advantage, and most likely not because of merit.

I am yet to see a capitalist system deliver general well-being in the form or at the level that the Scandinavian model delivers. Capitalism appeals to the inherent greed that exist in humans and it cultivates it to come out unashamedly and acts like an auto-advocate for the worst breed amongst us.

Here is a classic example (Note: I am not saying all bankers are like this, but I do find this interesting):

http://www.thelondonpaper.com/thelondonpaper/news/london/city-trader-paid-1-3m-bonus-sues-company-for-being-short-changed

This arse paid himself 92% of the bonus pool, like if he did 92% of the work. Whilst paying others in the team peanuts or nothing (just because he can) and still has the guts to sue for more. 

But, let me be clear, I think there is room for PPP in Nigeria but I just hope the government have altruistic, deep and smart thinkers to get them a good deal.

@sagamite
It's an irony that u're economical socialist- a leveller and socially a conservative.