Global Markets Summer Intern Review

On my first rotation my role involved reading deal confirmation documents, trying different pricing excels to understand the PNL and gap risk quantitatively and creating term sheets for existing and live trades. The role culminated on a deal analysis presentation (one of the most complex ones) to the team. My second rotation involved a great deal of excel coding (VBA and excel functions) to automate a collar/call spread preliminary pricing tool and some slides of a PowerPoint pitch book. In both rotations I spoke to many people inside and outside my team too.

I have learned about many different financial products, not only on my team but also from other teams (rates, FX, options, credit, overnight lending, etc. related products). I have definitely expanded my knowledge on banking and what Nomura does and I have been able to expand my excel coding, VBA and document scanning skills as well as other interpersonal, risk analysis and greater picture thinking skills.

I think that the nature of the first project (explaining an existing deal) did not allow me to have much responsibility as an intern. However, I was involved in team conversations and the team (EM Structuring) was always willing to help me and teach me. On my second rotation I was given more responsibility in terms of project since the pricing tool is indeed something they are thinking of using - however, whilst included in weekly pipeline meetings, I was only included on one existing deal to obtain a volatility curve for different maturities for an equity that did not have much data. So I felt that we were working more separately.

I was given a lot of guidance during my first rotation and a bit less during my second one. However I believe this is because the structuring desk I was in was slower in pace than some other desks in the trading floor and therefore they had the time to support me and guide me. In my second rotation the pace was also quite slow however they were always involved in existing deals and did not have as much time as in the first one. That said in general everyone (even those in other desks) were willing to help and guide me.

The culture and atmosphere was amazing - everyone was super friendly, willing to have a chat with you, ready to listen, go on a walk... it was honestly one of the highlights at Nomura - somewhere you can work but also where you can "live".

It was the highlight of my summer, I have learned so much during my internship in both my rotations and outside these. I have met incredible people and networked with so many people inside the firm. Honestly, it has been amazing.

Yes

Be willing to learn and talk to as many people as possible. When applying try to be calm and honest - thinking our loud and showing enthusiasm is something I feel can be very positive here at Nomura.