...26 November 2012 th Ricardo Marques de Sousa 30A Bath Street Leamington Spa Warwickshire CV31 3AE Credit Suisse One Cabot Square London E14 4QJ Dear Sir or Madam, I am currently a third year Warwick University student on a four year Masters in Physics course, eager to secure a place on Credit Suisse’s prestigious summer internship program. An experience at the Laboratório de Instrumentação e Física Experimental de Partículas (LIP), as an intern analyst in the area of high energy cosmic rays, whilst interesting, revealed to be mechanical, repetitive and slow paced with little professional advancement. It was during a careers fair at Warwick University, that the dynamic and competitive nature of the finance industry was brought to my attention. Subsequently I attended presentations held by various firms, including Credit Suisse, each describing the wide spectrum of divisions and opportunities offered by the sector and the firms. The Investment Banking division was described to be fast paced, exciting and intellectually challenging thus appealing to me greatly. Networking with individuals such as Omri Lumbrosso and Andrew Burton, provided a window to the significant responsibilities given to intern analysts and how the skills I have collected can benefit the firm. This further fuelled my motivation to learn more about the industry, division and firm, thus leading me to take a finance module this year and become an avid reader of the Economist. My degree course has provided...
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...Post Crisis Compensation at Credit Suisse (A) Brady Dougan 2009 adopted the G-20 guidelines for compensation in the financial industry 1 year ahead of schedule The goal of this strategy was to have various lines of business in banking work more closely together. 1978- Credit Suisse formed a joint venture with First Boston Inc. One of Wall Street’s earliest and largest investment banks. Credit Suisse owned 60 and First Boston owned 40% was London based and conducted investment banking in Europe. Compensation in CSFB was determined though in internal management process. While not without its share of challenges, Credit Suisse navigated through the financial crisis better than most of its rivals. Compensation at Credit Suisse In normal years, the CEO would ask the compensation committee of CSG’s board to approve a portion of the firm’s income that would be allocated towards incentive compensation (the bonus pool). They would then distribute this upon three functional divisions. 90% was then allocation to the various business units based on their performance. A) How your performance is ranked by your managers B) Actual financial results C) Rank individuals across their peers The rules required that deferred or unvested compensation be exposed over time as it was vested or earned. Because of the uncertainty of costs associated with awards that would change in value over time as a function of firm or share price performance, it was preferable if the compensation...
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...ABHILASH GOYAL, ELECTRICAL ENGINEERING COCA COLA Supply Chain Operations Excellence Trainee OTHER COMPANIES INTERVIEWED WITH: ITC and Schlumberger Program- BTECH HIGHLIGHTS OF MY CAMPUS STAY CPI: 8.8 Volunteer in Ritambhara, participated in 2-3 robotics events etc. PRE-PLACEMENT PREPARATION - When it came to resume building, I mentioned my internship (which was in Samsung), projects I did and the co-curricular activities - I was confident about my aptitude and was focussing mainly core and analytics. - I didn’t prepare for GD but finally had to give GD in Coca Cola, ITC and Schlumberger. So you can never be too sure of what comes your way during the placements. PLACEMENT EXPERIENCE - I started my placement journey by getting shortlisted in Capital One on Day 1. They shortlisted 125 candidates on the basis of resume. Then they took a case study interview and reduced the number to 30. Then again took an aptitude test but finally didn’t give offer to anyone. - Then came Coca Cola on Day 2. They organised GD in the groups of ten each and then there was a single interview of about half an hour which mainly consisted of HR based questions. The topic of the GD was “Are Engineering students wasting time in studies ?”. The interview mainly focussed on the commitment to work with them and asked whether I did any activity depicting leadership skills. - Coca Cola shortlisted candidates with medium profile like moderate CPI with few extracurrecs. I had a target of gettng...
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...Bracket International-The RFID Decision Case Study Tamara Thomas-Winston Business 4208 Dr. Nellis Freeman July 16, 2013 Problem Statement Please analyze the risks of adopting a new technology too late or too early, the economic payback in years for the possibility of RFID adoption, how RFID compares to bar coding, and short and longer term recommendations for Bracket International? Challenges and Opportunities Many benefits are afforded through technology however; technology can also pose some challenges. It is important to understand the advantages and disadvantages of using technology as well as its impact on the workforce. According to the OM4 textbook, there are many benefits and challenges of adopting technology. Examples are listed below in table 1. Benefits Challenges Creates new industries and job opportunities Higher employee skill levels required, such as information technology and service management skills Restructure old and less productive industries Integration of old and new technology and systems Integrates supply and value chain players Job shift and displacement Increases marketplace competitiveness and maintains the survival of the firm Less opportunity for employee creativity and empowerment Provides the capability to focus on smaller Protecting the employee’s customer’s privacy and security Improves/increases productivity, quality, customer satisfaction, speed, safety, and flexibility/customization-does more with less Fewer human service...
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...ASOSIASI PENGELOLA PUSAT BELANJA INDONESIA (INDONESIAN SHOPPING CENTRES ASSOCIATION) Retail Trends & Challenges Retail Trends ….. • The market – Huge and Changing • The shoppers – Socially Shopaholics • The challenges – Raising competition and raising cost of doing business Retail Trends ….. • The market – Huge and Changing • The shoppers – Socially Shopaholics • The challenges – Raising competition and cost Indonesia has it all ….. GDP Growth l Accelera>ng real GDP growth ► 4.5% in 2009, 6% in 2010, 6.2% in 2011 4th largest popula>on in the world with 235 m inhabitants Growing urbaniza>on Middle class(1) now represents over 40% of the popula>on vs. 25% 10 years ago Size of middle class has been growing strongly at a 7.5% CAGR over the last 10 years to reach 23 m households GDP per capita to reach USD3,000 by 2012, allowing for greater disposable income and faster modern retail growth l l l l l Growing Middle Class Popula>on l l Food Retail Industry l l ...
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...As I have stated before below is our protocols for transacting our business on the Euroclear Screen with instruments that are Beneficially owned with a Registered/Titled Owner:- Protocols:- 1) The Securities can be Corporately Invoiced with Copy of Euroclear Title Page 2) The Securities are screen-able on EUROCLEAR 3) The Securities are on balance sheet (Cashed Backed) payable with the full faith and credit of the issuing bank. 4) The Securities are Beneficially Owned /Titled (Registered Owner) 5) The Securities are issued by one or more acceptable Western European Money Centre Banks rated A/ AA or better by Standard and Poors, Normal Exclusions. 6) The Securities show no price on the screen (insert – Private Placement) SAME DAY SETTLEMENT FOR ALL INVOICING AFTER SCREEN VALIDATION. Our Clearing banks are Rothschild, Zurich, Credit Suisse Zurich, UBS AG, Zurich, Deutsche Bank,London, Tokyo Mitsubishi, London., HSBC London & HK, Goldman Sachs, London, and Kleinwort Benson London. PROCEDURE FOR SCREEN CLOSING: CLOSING STEPS ON SCREEN……. WINDOW 10 Closure where Called Funds are confirmed against the verifiable Corporate Invoice Below the Window-12 Steps Procedure which should be followed diligently through DTC or EUROCLEAR SCREENS. Some Bank terminals utilize systems that allow entering the CUSIP Number first and other ones allow to enter the Access Code first. In the procedure below, the Access Code and the CUSIP Number may be interchanged...
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...•What is the outlook for the search industry as seen in 2004? What are Google’s strengths and weaknesses in its main business line? •Do you think Google should go public? To answer this question, list the pros and cons of doing an IPO, and assess these points in the context of Google. Consider Google’s competitive position in its industry, the market conditions, concerns of managers, firm’s financial health, etc. Pros and Cons of doing an IPO: Pros Cons An IPO allows a company to tap a wide pool of investors to provide itself with capital for future growth, repayment of debt or working capital. • Significant legal, accounting and marketing costs •Get new capital to sustain growth/improve financial position. • Ongoing requirement to disclose financial and business information •Greater liquidity for firm’s equity. • Meaningful time, effort and attention required of senior management •Potential increase in equity value. • Risk that required funding will not be raised •Diversification of initial share holders’ personal portfolios and easier transfer of ownership. • Public dissemination of information which may be useful to competitors, suppliers and customers Google would be under intense scrutiny from Wall Street because of many failed IPO’s for the past couple of years. They also have a lot of competition from Yahoo and Microsoft. An area of concern was that Microsoft might design a version of its text processing software that could block the access of...
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...CHRISTINE ISABEL B. GO BSCOE5 Reaction paper Article: Isn’t it that an entrepreneur is a different person from a manager? Let us first define the meanings of an entrepreneur and the manager. Based on some researches I’ve had, entrepreneur defined as someone who seeks new and original ways of doing something, often used to describe a businessperson who finds a new way of advertising or advancing a new product or the product itself. Entrepreneur is a person who has an Idea that they implement for the betterment of anybody in general i.e. either clients or employees or organizations or the society at large and hence creates value for them by means of products/services which were not really existent until now in the very form in which the entrepreneur is offering. The product or service that the entrepreneur comes up with has distinguishable features and thus the entrepreneur can be fairly stated as the founder or creator. Another one is an entrepreneur is he who starts the business from scratch. For example, initiating the plan, materializing and implementing and also creating brand for his products and services. In simple words, entrepreneur who run the business in a unique form. Let’s look at the other side of the story: the manager. A manager is someone who organizes the members of a workforce and delegates responsibility to those who can do the job. Another meaning for the manager is the one who directs a team or athlete; a person whose work or profession is management...
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...Transcripción de Andersen : Una obstrucción de la justicia ? Andersen : Una obstrucción de la justicia ? David Duncan fue el testigo principal en el caso Andersen. Él triturar los documentos que son necesarios para la investigación de la SEC . mientras que Nancy Temple era el consejo legal y abogado en el departamento jurídico de la Anderson. Ella ordenó David Duncan para destruir todos los documentos relacionados con Enron con el fin de estar a salvo en la investigación. Por lo tanto Nancy Temple era más responsable de la Andersen SEC y el Departamento de Justicia que han intentado ANDERSEN AS FIRME Y también debe tener como objetivo a individuos concreta realizada ACTOS ILÍCITOS . En opinión del tribunal , las instrucciones eran demasiado vagas para permitir que un jurado para encontrar realmente había ocurrido la obstrucción de la justicia. El tribunal consideró que las instrucciones fueron redactadas de tal manera que Andersen pudo haber sido condenado sin prueba alguna de que la empresa sabía que había violado la ley o que no había habido un enlace a cualquier procedimiento oficial que prohibía la destrucción de documentos. A pesar de la condena de Andersen fue anulada , no creemos que los empleados de Andersen actuaron de una manera ética en el caso de la fiscalía principales socios en la oficina de Andersen Chicago habían permitido Enron utilizar prácticas contables agresivas que eran cuestionables , dada la naturaleza de los negocios de Enron. 2 . Los temas...
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...Profile Summary: ------------------------------------------------- A capable, ambitious and successful investment banking professional with 3+ years of experience, who possess a broad and deep knowledge of Prime Services Stock Lending and Borrowing business. Gained expertise in cash collateral, Stock Loan billing, Trade Support , Equities Settlements and Reconciliation of securities Lending business / Stock Borrow Lending. ------------------------------------------------- ------------------------------------------------- Associate Process Manager at Eclerx-Credit Suisse Process: Stock Borrow Lending- Billing EMEA and NY (Equity Middle Office Operations) Period: Since Mar-2015 to till date. Roles and Responsibilities: * Settlement of SBL fees, rebates with various external counterparties, prime brokerage clients, PTH accounts and Platinum clients. * Reconciliation of Statements for settlement of fees. * Reconciliation of cash A/c’s (Intellimatch nostro) * Daily Reconciliation of BM vs Peoplesoft * Month end Glass reconciliation of pay-receive accounts in Peoplesoft. * Daily reconciliation of Intercompany accounts. * Working closely with Clients, Technology and various internal counterparts to ensure efficient client service. * Advise cash management team to ensure correct cash funding before currencies deadlines * Ensure all nostro breaks are reviewed as per defined age bracket and SLA (Service Level Agreement) with client...
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...FIFTH EDITION 2005 Transforming Real Estate Finance A CMBS Primer Primary Analysts: Howard Esaki Marielle Jan de Beur Masumi Goldman This book is an overview of the Commercial Mortgage-Backed Securities (CMBS) market. The contents of this publication are over eight years in the making and include excerpts of research reports from as early as 1997. In this fifth edition of our primer, we have reorganized the chapters to highlight the different investment options within CMBS. New material since our last edition includes sections on the various types of AAA CMBS classes, total rate of return swaps, floating rate large loan transactions, and an updated version of the commercial mortgage default study. We hope you find this book useful and welcome comments so that we can improve future editions. FIFTH EDITION 2005 Transforming Real Estate Finance A CMBS Primer Primary Analysts: Howard Esaki Marielle Jan de Beur Masumi Goldman The Primary Analyst(s) identified above certify that the views expressed in this report accurately reflect his/her/their personal views about the subject securities/instruments/issuers, and no part of his/her/their compensation was, is or will be directly or indirectly related to the specific views or recommendations contained herein. This report has been prepared in accordance with our conflict management policy. The policy describes our organizational and administrative arrangements for the avoidance, management and disclosure...
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...has been able to build up high sales volume through cheaper pricing than its competitors and through a strong sales force. The company has also been able to keep prices down by maintaining a strict budget with tight control over operating expenses, including paying its sales team on commission and keeping overhead low. Financing is another key in a business and is a large factor that will determine the success of Jones Electrical is their financing. Jones Electrical needs to take out larger loans in order to build up inventory and increase sales. Also by taking loans the company is able to take advantage of the 2% purchase discounts that its manufacturers provide. The company’s financials show that with an increase in its line of credit the more sales it has, resulting in growth and a higher net income. 2. Why does a business that has a profit of $30,000 per year need a bank loan? A loan in many cases for companies is something that is necessary to have a successful growth and create excellent opportunities. The company’s biggest problem is its shortage of cash. With the extra cash Jones Electrical will be able to buy more inventories which will help it to grow and increase sells. The cash will also allow Jones Electrical to take advantage of the 2% purchase...
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...SUMMARY OF MASTER CIRCULAR ON EXPOSURE NORMS INTRODUCTION As a prudential measure aimed at better risk management and avoidance of concentration of credit risks, the Reserve Bank of India has advised the banks to fix limits on their exposure to specific industry or sectors and has prescribed regulatory limits on banks’ exposure to individual and group borrowers in India. In addition, banks are also required to observe certain statutory and regulatory exposure limits in respect of advances against / investments in shares, convertible debentures /bonds, units of equity-oriented mutual funds and all exposures to Venture Capital Funds (VCFs). Banks should comply with the following guidelines relating to exposure norms. Purpose This is a summary on Master Circular providing framework of the rules/regulations/instructions issued by the Reserve Bank of India to Scheduled Commercial Banks relating to credit exposure limits for individual / group borrowers and credit exposure to specific industry or sectors, and the capital market exposure of banks. Definition of 'Credit Exposure' The total amount of credit extended to a borrower by a lender. The magnitude of credit exposure indicates the extent to which the lender is exposed to the risk of loss in the event of the borrower's default. Credit Exposures to Individual / Group Borrowers • Exposure to a single borrower not to exceed 15% of bank’s capital funds • Exposure to a group of borrowers not to exceed 40% of capital...
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...Abstract Contents: Context- Objectives of group lending- Methodology- Some experiences of FINGOs, Potentialities- Limitations-Further improvements suggested- Conclusion Micro credit was visualized as a specialized sector by central bankers in 1970s as a necessity to serve small business and rural poor households who were out of reach of banking services in Nepal. Historically priority sector credit, small farmer development program, production credit for rural women, micro credit for women, and saving, credit cooperatives, and deprived sector credit programs are major initiatives from formal financing system. Thousands of informal occupational groups and community groups function informally. Main thrust of both formal and informal agencies is group mechanism to generate saving, serve micro credit and other social development inputs to their group members. Poor households variously called low income families, Janajati, backward Madhesi, Dalit, Women, and unemployed youth who live in rural areas have low saving, low capital base are excluded by banks and financial institutions intentionally from their service folds. They lack general and financial literacy. As an individual they are ineligible to take loans. They are recognized by financing institutions under Groups as legal entity. The Financial Intermediary Act 2055 recognizes groups including 4 to 10 members from disadvantaged households as a unit to receive social and financial inputs. From lenders’ as well as borrowers’...
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...area. He has a $15,000 budget for research that he can purchased from a research supplier called Manson and Associates to help him make this decision. Larry also has a $500,000 trust fund coming available to him soon and the option to borrow $400,000 from family members and an additional $400,000 line of credit with the bank. Recommendation We have concluded that it is feasible for Larry to pursue the investment of a Coors distributorship. The information we recommend purchasing are: studies A, B, C, E, F and I. good choicesThe cost of these studies totals $6,749.50, which would save $8,250.50 to use toward the initial investment. With fixed costs and the estimated amount Larry had figured for the initial investment, he would need $1,050,000. After Larry’s $500,000 of trust fund money and the additional money saved from the research budget, he would still need to borrow $541,748,50 to acquire the distributorship. We recommend that he borrow the $400,000 he has been offer from family first and the remaining $141,749.50 from the bank to avoid a larger interest payment or fees he may incur with a larger loan from the bank. He would also still have a $258,250 line of credit with the bank available if he needed it in the future. Rationale 1. When analyzing Table A it is clear that the consumption in gallons of beer per capita is much higher in Delaware than the average for the United States as a whole. Based on this information and the percentage of the population in...
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