|Name||JP Morgan Chase|
|Full Address||The Intermark, 348, Jalan Tun Razak,Kuala Lumpur, 50400, Malaysia.|
JP Morgan Chase
|Support & Guidance||
|Environment & Location||
Global Investment BankingA valuable learning experience in the Malaysian investment banking industry in one of the largest banks in the world. Full review »BSc Economics, penultimate year student, London School of EconomicsRatings
Enjoyment Support & Guidance Environment & Location How Rewarding Was It? Average 4.5How many weeks was it for?9 weeksDate of completion08/2014Monthly payRM 1500What did you do?
My department covers mergers and acquisitions, equity capital market and debt capital market transaction advisory for Malaysian corporates. I was assigned to deal teams consisting of industry and product bankers across the region to execute live transactions, assisting Malaysian coverage bankers with marketing pitches for Malaysian clients. We were very closely with the teams in Singapore and Hong Kong and had the chance to interact and be on calls with them on a daily basis. Tasks and projects on a regular basis include preparing pitch materials to our clients: will the deal add value to our client? How are the valuations according to financial models? What are the strategic / financing alternatives? How would the shareholders and market inventors value the deal? How have precedent transactions performed? Other main tasks include conducting research (into products, industry, target companies) for our client and preparing legal letters, agreements for the execution of a transaction.
Great deal of independence was given and work was assessed very, very closely. Screwing up and presenting wrong information with wrong formatting/font size/color code is costly in this business. The level of ownership over my tasks is average since a lot of them are client-driven and my supervisors require the work done in a specific manner. A lot of projects contain material non-public information (MNPI) and so I tread carefully here!A bit about your intenrship interview
There were 2 interviews - 1 over the phone, 1 via teleconference at JP Morgan's London office. My phone interview lasted for an hour and conducted by a friendly lady in the investor relations business at JPM. Questions were competency-based: how would you tackle a certain problem, what leadership skills do you have, and why the firm.
Teleconference assessment centre comprised of 2 parts: we were given a case study and required to propose solutions to problems. This was done in a group (of 5) and produced a roadmap to the solution in 30 mins. No presentation at the end, the interviewers observed as we worked in a group in that period. Second part was individual interview by 8 managers on the case study and more competency questions.What did you learn?
The learning curve is very steep. Things move very quickly and you have to be on your toes all the time. Deals can go on an off in the span of few days - having new clients mean you need to learn their business model and industry quickly to be able to deliver and talk to them. A typical banker will be working on a handful of deals at one go, and they have to understand each business to be able to give advice on all of them. This can be difficult since clients tend to be of different industries requiring different advice and products. You will certain learn some finance, accounting and legal concepts, which is not difficult but useful for business.Was your supervisor supportive?
A lot of support was given and most projects have tight deadlines and client-driven, so progress is constantly monitored. I could reach for help easily and any queries beyond my job scope that I had were answered with a lot of enthusiasm and detail. They never fail to give me a big picture view of a transaction: the rationale behind them and how we should advise our client at every stage. My supervisor pays a lot of attention to detail and has even advised me on my dress code as a banker!What could be improved? What could you have done better?
There were a lot of protocols to be observed and red tape within the organisation which were annoying, but nevertheless important. I would not attempt to improve the situation as I feel the banking industry is a lot more regulated today and this is a necessary change.Advice for future interns?
Always be the first to enter the office and last to leave. Be prepared to put in the hours. Speak up and reach out to people, pick up the phone, ask and listen to people when facing a problem.