FIXED INCOME
BY: LYNN STRONGIN DODDS • PROFILES BY: SUSANNA ROBINSON; STUART NEWMAN
EWA MYSZKIER, CFA
T
he fi xed income group may look slightly
diff erent at every bank but it often consists
Title: Convertible Bond Analyst
of interest rate, credit and asset-based
Current employer:
products, liability management, foreign exchange, Jefferies International
commodities, derivatives and other securities. Th e Previous employer:
subprime crisis has not made life easy especially
HSBC Global Markets
on the credit side, but banks are known for
University: Wroclaw University of
Economics, Poland;
developing innovative structures and solutions,
Loughborough University
and this will remain the case.
Degrees: Bachelors in Finance;
Few expect the securitisation markets which Masters in International Banking
included residential and commercial mortgage Professional qualifi cations:
backed securities to revive anytime soon although
CFA
currency and commodities are doing a brisk trade.
Andrew Breach, manager, debt and structured
fi nance at Michael Page Financial Services, says,
What attracted you to this career path?
“the asset backed market has really struggled since
I worked in various areas of investment banking
(corporate fi nance) and capital markets (interest
last July and August. We used to fi ll several
rates derivatives, structuring and FX sales)
positions but that is no longer the case. We are
before I decided to focus on convertible bonds.
seeing activity, though, on the leveraged fi nance
Most capital market related jobs are very
side especially in the mid market banks who are
attractive due to the constantly changing market
doing the smaller deals.”
environment. The complex nature of convertible
Th e picture is more mixed with credit
bonds presents an additional challenge.
products, which encompasses a range of
disciplines and sub-groups such as credit
What are the major challenges you face in your
position?
Spotting the right opportunities at the right time.
“The asset backed market has really
Are there certain skills you would consider
struggled since last July and August.
useful for your job?
Besides fi nancial skills, high adaptability and
curiosity are necessary to keep up with market
We used to fi ll several positions but
changes.
that is no longer the case. We are seeing
Do you have advice for someone intending to
pursue the same career path?
activity, though, on the leveraged
Even when you know exactly which area you want
to pursue your career in, I think it’s benefi cial to
explore other areas before you start specialising
fi nance side especially in the
in your chosen fi eld. That gives you a clear
advantage, even though it may seem to delay
mid-market banks who are doing
your career. Especially in convertible bonds,
which combine elements of both equity and debt,
it’s very important to be aware of events/
the smaller deals”
developments in different parts of the capital
markets.
Andrew Breach , Michael Page Financial Services
62
558-78 investment banking.indd 628-78 investment banking.indd 62 222/11/08 12:23:032/11/08 12:23:03
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