₦airaland Forum

@Jarus
Thank you for ur comment,
true talk as regards what we have been able to achieve with TOP 10 INV BANKS IN NIGERIA., we ve all been able to learn and we re still learning.

But i became concerned about 2 things-
1st-the thread topic-TOP 10 INV BANKS IN NIGERIA, has not been couched to look broad enough to interest a larger finance audience, such as the stockbrokers and Accountants on the bloc.
2ndly-A casual finance surfer of CAREERS section may just see the thread topic-TOP 10 INV BANKS IN NIGERIA, and his curiousity may never be wet enough for him to check it up, not knowing that a whole lot of finance information and knowledge are being juggle around every minute there,even though the thread is couched-TOP 10 INV BANKS IN NIGERIA.

Not withstanding the above reservations, i wish that 'TOP 10 INV BANKS IN NIGERIA' thread be maintained and make active by our continuous ever intelligent contributions,we wont abandon it for this newbie thread.

Peace.

T-CANN

Pls,any stockbroker reading this- i mean qualified ACS or 'about to'. Is it true that Chartered Institute of Stockbrokers is about to revise its Syllabus this year?.

Also for those in the CF stream,which will u say are the best deals on the Capital mkt in the last 12 mths

Finally on eterna oil and otedola cement mgt restructuring and share IPO- what re ur views?

I guess it will be nice to share here,issues pertaining to our passion and career-FINANCE,so many things to discuss!!, i wouldnt shoot nor would i suggest a line of discussion for the thread,let all interested finance professionals and intending ones make this thread a pool to have recourse to.

Also for every non-finance person,who have one or two observations,provided they re constructive and not 'yabbish' in nature,by all means,u re welcome.

Meanwhile,this thread is also meant to serve as a general forum for people in finance,a diversionary thread from-TOP 10 INVESTMENT BANKS IN NIGERIA.

Out of our busy job schedules, lets make it work.

Howdy,

GOOD PPLE OF THE OFFICES,- THE TALL ONES IN VI,LONDON etc or THE SHORT OFFICES OF SURELERE, IKEJA.
How una dey?
We go all take profit go home o!! (amin).

Peace,am out!!

tkb417:
@T-Cann
did you write Mobils test today?

for those interested in applying for the post of a trainee accountant in a telco, send ur email and ill forward the stuff to you

cheers

thanks bro, saw it when the vacancy came out but intentionally withdrew from applying, some of my funny decisions. a colleague of mine at my place of work attended though, i ve not seen her to hear to full gist of how it went. thank you for having my back,it 's lovely to know. cheers.

soorry guys,the above post is for me,i mistakingly sent it in on another person's acct.
It is a sorry mistake.


T-CANN

seunallday:
@ T-cann, well said, just heard about the BGL/Savannah bank thingie , dont have much info on it.

@ Seun
u re in the biz now , try and find out more specifics and report back to the house, it will be nice to know.

Seun, i am personally impressed & i  appreciate ur contributions to this thread,but for a very wonderful pple like u and others,both posting and non-posting friends,it may nt have happened here. keep up the good work!!
Cheers.

T-Cann:
@tkb
As regards other mamoth deals that u ve dug ur teeth into or that have come to ur notice in the course of ur work,we can at least know the names of the coys involved in the transac, i can tell u authoritatively from a legal point of view that u will not be contravening any provision of any non-disclosure doc u might have signed with ya employers,by mentioning parties to a deal.These CF deals info,most times, are within the purview of public domain and info on them can always be gotten from several sources.
Bros,lets share from the fountain of ur practical experience and exposure,nothing do you o!-LOL

What say you to the above?
Welcome from Ibadan and how was the wedding?,
Am loving that town!

Bummie Aji:
Hello,
wanted to write that i have written the test and would be going for the interview tomorrow. Can u give me any hint on the interview?

Hi bummi,
Welcome to NL thread on finance,IB general issues specifically.judging from ur posts,i'm tempted to believe that u re new around NL,except u re one of our shadow friends behind the thread veil reading along religiously posts on the thread,never mind,i was once like that some yrs ago.
congrats on ur test,so lovely to know that u scaled the test stage,na only UI and Ife guys fit do that[/font] , I am aware u want some hints from Jarus, and am sure he'll reply u soonest, but per chance u may disappear behind the veil again, i will like u to allow the thread thousands of young applicants like us hoping to involve in the process u re involved in now and with the type of coy-vetiva , u re gunning for, to share from how u started it from the beginning,
what specialized trainings do u have(both from Ife and after u left ife)
How did u apply to vetiva
what does the test look like.
Any other things u think might be of usefulness to young pple here.

The reason this thread was set up is to dismystify to a large extent, the lack of infomation to bridge the knowledge gap for so many applicants trying to fulfil destiny,in an area(IB) inwhich most pple were never introduced to in shl.



U will find favour in ur interview(amen) Go giv it to em,cheers.

@jarus.
i was asking u about political involvements way back at the Uni, just to prove a point-Develop a thick skin to critics comment.political 'erepa' at shl may have taught u some precious lessons on critics ignoring techniques

tkb417:
ol boi, forget it
even if we didnt meet while in school. David and Banwo ur fellow First class people told me about u
ure what Dbanj called ogbona feli feli
ride on brother, the sky is the limit
nothn do you

What more can we say?
, and lest i 4get,ogbona feli feli is the yoruba translation of 'genius' , , so u cant afford to be bias towards me, allowing some pple to call u somthing while u marginalise 'our' genius prefix, so your request's denied in the interest of fairness.

What's ur PM and i 4got to include my IM addy d other time- teecannrecruiting@yahoo.com

@YEMMIGHT
Nice things u re doing on this thread,but we shd not not let it go down,lets think of a strategic way of keeping it hot and attractive.ginger ur contributors up and just do something to make it come up again,as we ve always known it.

, to my ques.
What is the normal or say usual recruitment cycle of these following private Investment Banking institutions?ie can u help me in finding out thru any link u may have, to know what quarter of the year do these coys recruit entry level associates for a new recruitment cycle?

-Meristem
- Vetiva
-BGL securities
-FSDH
-CSL securities
-chapel Hill
-Greenwich trust securities

Thank you.

Jarus:
Different IBs have different test formats, just as different banks also have different formats. I don't know much about their tests.

For Vetiva, it's 55 questions plus an essay, the title of which I will not say here, but I'll advise you don't waste much time on the essay. The time is 90 minutes and it's a mixture of English and Maths, mostly word problems. There is 'sentence correction' aspect, and of course 'nearest in meaning' and 'opposite in meaning' sections. The passmark is 60%. They are more related to foreign GMAT than this locally made GMAT book most job seekers carry around.

For IBTC, if they've not changed it, it's 60 questions, 90 minutes and that was the cheapest test I have ever done. The passmark is 50% and I wonder why people fail this test. I won't state my score here to avoid being called pompous again here but it was quite high. It's a mixture of English and maths, but most of the Maths are business maths - simple, compound interests etc. English also contains 'nearest in meaning', 'opposite in meaning', etc. No shapes and figures. No graphical interpretations.

I don't know anything on the test formats for other IBs.

Package? First, it differs markedly across different organizations. Second, I learnt from a friend in one of them yesterday, that they implemented pay cut when the crisis hit them. So I may not be able to help. But for those that are wholely owned subsidiary of banks, their pay is usually the same as what entry level earns in their parent bank. For those that are strictly IBs, it depends on the size and the success: The big ones(most mentioned earlier in this thread) pay between 160-200K per month as take-home, while the small, not too successful ones pay between 80-120K net per month. It differs markedly.

@Genius Jarus
U have not for a day disappointed the confidence i reppose in you and am sure am saying the minds of several pple.
Good reply there.
Jarus,i'd love to tell u something here-never be distracted by comments.Apply OBJ's model(never reply critics).I dnt know when u were at Ife, whether u had the oppurtunity to lead people,at political/faculty/deptal levels.Pple will always throw careless comments around.My 5yrs at U.I were spent being a president of XYZ association or the other,develop a thick skin and like a friend of mine that finished from Ife will say-'i wont grant them the luxury of a reply or joining issues'
-Books apart,you re a a smart and well versed person,a mspecial rear breed on NL. pls keep up the good works here.
-Are u qualified,i mean ICAN.
-I need to give u some hints,send ur IM addy to me or berra still,join me to ur yahoo IM

---

peace.

@Genius Jarus
Howdy, still waiting to recieve in ur response.


@seun
Yep,i want to agree with u on the ETERNA OIL deal, i used to be a curious investor way back in the Uni those days about the low share price of the coy,as it always closes at ridiculously low price compared to other O&G coys quoted at d end of each trading day and since i have followed the devt in the coy,so the restructuring by Meristem was quite somthg, considering the swelling market value of the coy pre-meltdown time.Hopefully,stuffs already put into place during the restructuring shd blossom and take more definite shape when this whole fin. mess start clearing off,hence leading to the visible and stronger ENTERNA OIL brand-share price wise and goodwill-wise.

As regards the SAVANNAH BANK restructuring thing,good to know somthg like that is in the pipeline,but can u shed more light on it, dont really know much about it for now,except i research it.


@tkb
As regards other mamoth deals that u ve dug ur teeth into or that have come to ur notice in the course of ur work,we can at least know the names of the coys involved in the transac, i can tell u authoritatively from a legal point of view that u will not be contravening any provision of any non-disclosure doc u might have signed with ya employers,by mentioning parties to a deal.These CF deals info,most times, are within the purview of public domain and info on them can always be gotten from several sources.
Bros,lets share from the fountain of ur practical experience and exposure,nothing do you o!-LOL

@others
it's as if others are just playing observers,common on,puvguy,babalawo,sagamite,worldz, et al, we can do berra now.

Jarus:
Maybe the title should have been something like RANDOM DISCUSSION ON INVESTMENT BANKING AND NIGERIAN FINANCIAL TERRAIN.

It will never have attracted the traffic, thread traffic is all about the attractive and curiousity-laced topic keywords and sensible contributions of people like you.

worldz:
@Jarus

I will really appreciate it if you will continue with the infos u were giving before about the recruitment process in the oil and gas industry as u promised

hmmmm, Oil and Gas(finance)=/ IB.-unbalanced equatn,
Genius Jarus, dont guck yourself o, this maybe a good window to start that consulting thing that u ve always wanted to run-LOL(am just kidding b4 they tear me apart)

@WORLZ
longest time,bro,how was ur exams,God dey.u ve really missed some nice shows,update urself and get abreast of issues,esp this thread.send my ur num in my yahoo addy,we need to talk,som beautiful recently came up.

@Jarus
What is the test format like for an entry level aptitude test for an IB/Issuing house? is it the general GMAT or some customized Financial management/accounting tests.Pls reply soonest cos somethg is in the pipeline for yours sincerely.
Also,what will be ur comment on the average entry level package industry wide-either now or when u were still in the show,whichever info u av.

@others
I want to suggest that the thread shd take another turn,so as not to burn out the initial passion and also to keep abay thread hijackers from other areas of NL.So,

WHICH ARE THE 5 MOST VISIBLE IB INSTITUTIONS ON NIG. CAPITAL MARKET TERRAIN?

WHICH ARE THE 5 'TIGHTEST' CORPORATE FINANCE DEALS IN THE LAST 1 YEAR IN NIGERIA (ie M&A,RESTRUCTURING,SHARE INTRODUCTION INTO THE MARKET) AND BY WHICH IB?

Let everybody gets informed by your knowledge.Cheers.

Sagamite:
Equitable distribution? Na beans, for where? 

Except you are saying the government will introduce compulsory military service, 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
nice to know about ur inclinations gravitating towards socio-welfarism and u have successfully driven your points home using amongst the best socio-political arguments i ve ever ran into on NL,painting all the way,how best greedy capitalists could get (bankers 1st and foremost). All well said.Abeg bros,lets set up another arena for this and lets spank ourselves silly there.really,u will have a tough beat in some of us here.I can understand ur wrong notion-'finance guys that knows next to nothing on socio-welfarist stuffs' and u coming here 2 harass em.
lets leave the IB thread out of this,so that it wont look like we hijacked the thread and if u as much as take my challenge and set up another arena4it,i'll be the first to reply u,^{and u ll see what a combination it is to be a lawyer and a finance person}. Deal,is it?

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.

@all

good to see that the thread is shoving up. How is everybody's end and work?

@tollu
of course,as a naija boi concerned, there are always a plan B,C and even D.
I ve got other stuff in the bowl too, hope the best option turns out well for us.
God dey.

tkb417:
and u expect pre-nysc people to have acca and stuffs?
u never start

dont mind these pple, am sick of naija employers, do they think it is beans-ACA, ACCA, CIS-u just slam down criteria as if pple just enter into ICAN exams centres and 3 wks later, they re qualified; to add salt to injury,they will req that u re 25 yrs old. May God help the system,, hmmmm.

@tollu,
sooory o, dont loose hope that quickly! nothing on this side yet too, i read on some realiable online info source that it may be a 'batchy' affair.i know there's nothing God cant do.lets just still keep hanging on to God, to perfect that whichever he has started with us. be of good cheer, ciao!!

@others
what's happening to the adjudged best threa on NL? abeg, dnt let us fall the standard of this place, or is it the new threadies? oh ye viewers of a 'new bride' and jilters of 'd old faithful ruth'-hmmmmmm-tbk, jarus and co (lol)-come back to our first luv oh!!

later

@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.

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.

mbulela:
. some points;
i hope TBK and co will address the pessimism of Azigiza? a pessimism which i share a bit of.

just about leaving office now when i read the posts for today, i hopefully suppose to put in a rejoinder when i get home.Till then, this is just superbly excellent, i mean all yr posts 2day!!

@tbk
are u presently online? if yes,pls lets IM on teecannrecruiting@yahoo.com. some info need to be passed on behind the veil. thanks.

seunallday:
lol, true talk sha, from ur post i can sense dat u have a prob wit the fees as well, will call to find out ow much it is tho,

@SEUN
Omo iya,you got me there-lol
na naija we dey,e no easy o!! all man just dey try.
to spit out N175,000 for a 5-day what, fiiii le,its a loooooonng thing.

seunallday:
lol, true talk sha, from ur post i can sense dat u have a prob wit the fees as well, will call to find out ow much it is tho,

Omo iya,you got me there-lol
na naija we dey,e no easy o!! all man just dey try.
to spit out N175,000 for a 5-day what, fiiii le,its a loooooonng thing.

ebhohon:
Hi Guys,
Please don't be embarrassed by my question, this is an opportunity for us to learn, What is PE?

If it is has TKB used the acromyn earlier in the thread,i want to believe it is PRIVATE EQUITY.

lolarde:
This is the most interesting topic i ve come across on nairaland.
i am a graduate of estate management,unilag. kind of in a fix as to what line of career to follow.
No passion for real estate,so its off my options.
Risk management is a viable option for me,taking professional exams in insurance already,ll be an associate by december.
i am thinking of getting into investment banking/capital market just based on that,dont want to take CIS,ACCA or ICAN
Also heard about SII,Securities and Investment Institute(its UK based but gradually gaining recognition in nigeria. (Check out www.sii.org.uk.)
Pls i need solid advice from you guys,not currently working now,i hope to get a sense of direction from this topic.

olufunlayoojo@yahoo.com

@LOLARDE,
Its true that SII-Securities and Investment Institute, Lo[/b]ndon is getting more recognised in Nig., in fact last year when i was actively researching the institute,i found out that SII has an exam centre in lagos and abuja, but from my findings, u cant function as a market dealer on NSE with either of their diplomas or certificate,also am not sure wether u can cross over to CIS with any of their certificates.

moreso, they offer certificate programmes and dip in [b]inv mgt,inv. compliance and regulatn,islamic banking,inv operations, etc.[/b]Interestingly, some nig prof bodies are listed for exemptn status by SII to enter into their associate level-[b]ASI. Such include ICAN, CIBN, CIIN etc (am not sure i saw CIS on the pdf list).

@seun
thanks a million
I ve been to their office b4 but therob is that u cant learn fin modeling in a 5-day crash program course, u av to keep practising always after d training, so i thot why shd i give my money off, its like going for a beginner's class in computer appreciation and u dont have a PC to practice at home,u ll soon lose the skills and ur training investment will yield a zero ROI. trust me, am speaking from exp.
Thanks all d same tho.

@tbk
bros, the joni of a thousand miles begins with a step. With the fin modeling training and all that, yours sincerely is not thinking that he will get it all right within a month o!!
afterall,these ur models thingi are gotten thru constant practice over and over again, like a car learner,u jst have to keep driving to get it right after the 2 weeks driving shl lessons.-ok seriously,what is ur honest opinion? yours sincerely has to change from law to IB by yr end o and GOD plus all of una im bros4d industry have to help out!!
I suspect u re online present, too bad my messenger isnt loading.
Nice one on d CFA thing, i pray d CFA society thing works out.

@jarus
where hath thou??

@others
excellent comments so far, am loving it!!

tkb417:
Investment Banking is cool, brain tasking, energy consuming and really rewarding
as for T-cann
you need to be all analytic, energic and be ready to spend long hours and weekends working on your mandates
some coys dont employ if you dont have the Mscs, First Class and the rest but its not really hard to figure

Just get yourself enrolled in CFA and get the level 1 passed and i can bet, you can enter one of those coys
if you have ACCA, ICAN and co with ur B.sc, you can hit up places like Stanbic BGL and co and they will be ready to take you in
But bros, the work can worry ooo

but if you work in a place like my office, ure sure gonna get a bonus as big as your annual pay
and thats just the plain truth.

so guys, lets talk, CFA guys are in town.

@tbk
Its nice hearing from you, how did ur CFA go? a friend of mine working with CSL wrote, he said "God dey"
As regards my ambition of crossing over to CF/IB, its been a long standing passion, i had already enrolled in for law b4 discovering my passion tru information for Inv Banking and since then, i have been prepin to change career-i studied law in shl with special interest and project work on Investmt and Securities law, ICAN, and now stage 2 of CIS, it was limited resources that made me run a personal fund rationing analysis and came to d conclusn of settling for CIS for now,till i get bigger kish to reg for CFA. As regards the tiring,long working hrs, weekends etc, your guy dey house, you cant tire a man out of what he loves passionately to do,he'll be at it for hrs and it will seem as if he just did 1 minute.
Yours sincerely just got the simon benninga's 2008 ed. self study text on 'financial modelling using excel' for some GBP,and with the help of a friend as expert mentor and prior knowledge of finace,i hope to pick up one or two things, still in the spirit of prep to storm the industry by year end.

@jarus and mr crackles
As regards my rating of Stanbic IBTC, i wont say much again as TBK as already given my submission. Investment banking as a core competence in Stanbic has been watered down with the universal banking licence.
as regards their pouching around for hands,its true, as a brother of mine has been lured into joining the team,he is currently on a touring trainning-he's in SA now

@Ajanlekoko
ARM may be good too but from my industry watch,the 10 high flying players is a diffult thing to pin to a countdown list, as my earlier list may be inconclusive,my elder brother uses them too, but that as it may be, there re many parameters that shd be considered in evaluating their capital strenght and not basically their marketing prowess to generate mandate accounts.

@ tbk  
I read in the papers the upcoming CFA institute seminar in Nigeria, i hope that will be an herald to the formation of the nig local CFA chapter and ultimately the location of an exam centre in naija.

Peace to y'all.

Hey all
@tolu
Tolu, how was it, i mean the results? on yours sincerely's side,nothing yet, but am still praying for the best.Let me know your status cos this suspense is killing baaaaaddddly o!!!

Hey all
@tolu
Tolu, how was it, i mean the results? on yours sincerely side,nothing yet, but am still praying for the best.Let me your status cos this suspense is baaaaaad o!!!