ORIGINATION –
DEBT AND EQUITY CAPITAL
ANUP MYSOOR, ASIP
lowest since the telecoms
bubble burst in 2002.
Title: Managing Director and Asia
T
he subprime crisis has
cast a shadow over
equity and debt Nott surprisingly,
Head of Industrials, Consumer and markets in 2008, resulting in recruitment in this area has
Healthcare
a trickle of issues. Th e general been sluggish. However,
Current employer: Citi Hong Kong
consensus is that there will when companies do think of
Universities: Manchester
not be a revival until 2008 as going public, they will turn
Business School; University of
Stirling; University of Mysore, India
companies are biding their to their investment bank
Degrees: MBA; Masters in
time before raising capital or which will not only do the
Investment Analysis; Bachelors in
making their debut on the legwork but also underwrite
Commerce public stage the deal in exchange for a
Professional qualifi cations: ASIP In fact, the volume of fee. It is commonplace on
global initial public off erings the larger, higher profi le
halved to $67.7 billion in the deals for banks to club
What attracted you to this career path?
fi rst half of 2008, while the together to spread the risk. It
I had an interest in fi nance. After an MBA at Manchester
number of deals plunged is even more so when
Business School I decided that I’d like a career in banking and
47% year on year to 1,733 markets turn south. As for
Citi was the natural fi rst choice.
– the lowest number since debt origination, the bank
2003, according to fi gures will work directly with
What are the major challenges you face in your position?
from data provider Dealogic. issuers such as corporations,
The challenge in the immediate term is the credit crunch.
Th e bulk of the companies banks and sovereign
Looking beyond the current turmoil, we need to focus on
used the proceeds to either governments that seek
innovation and talent.
whittle down their debt or funding. Th ey will off er
for acquisition fi nancing. advice on debt fi nancing
Are there certain skills you would consider useful for your job?
Global debt capital strategies, which can range
You need both depth and breadth. You quickly recognise that markets issuance was also from a simple bank loan to a
you can’t be a specialist in everything - so you need to know down at 32% for the fi rst six multi-billion dollar capital
who is. If you ask me to identify a vital skill, I’d say it is months of the year, raising exercise across asset
communication. although global investment classes.
grade corporate issuance hit
How do you think the role you’re in now will change over
record highs at $801.4 CONSOLIDATED GROUP
time?
billion in the second Historically, originations
My role as a banker will change as a consequence of the
quarter. Th is seemingly departments were divided
evolution of the markets and the increasing sophistication of my
came at the expense of the into equities and debt but
clients. I anticipate that this will result in more sub-industry
loan market, which saw increasingly banks are
specialisation for the delivery of customised banking solutions.
global volumes fall to their merging them into one group
lowest levels since the fi rst to extract greater effi ciencies.
Do you have advice for someone intending to pursue the
quarter of 2004. Global Th e ranks are fi lled with
same career path?
corporate high yield bond senior capital market bankers
Consider a stint in risk management early in your career, as a
issuance was also hit, who are well placed to
banker basically has to understand, structure and price risk.
plummeting 64% cent in navigate their way around the
After that, all you need is to be both humble enough to learn
the fi rst half, with global debt and equity markets as
and aggressive enough to sell.
issuance volumes at their well as actively engage with
74
558-78 investment banking.indd 748-78 investment banking.indd 74 222/11/08 12:23:072/11/08 12:23:07
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