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Sales, Trading & Research

Verena Letzerich
Associate, Cross Asset Class, Fund and Derivative Products

LSE - Management - Joined in 2006

I first joined J.P. Morgan for Spring Week in 2004. Now, I work in a team within the investment bank that markets alternative investments as well as derivatives across Europe. This can be anything from private equity funds or emerging market hedge funds, to structured products and distressed loan funds - all of them managed by an external asset manager. In doing so we work with teams in NY, HK and Tokyo to raise funds from the global sales force's investor client base.

It's a very interactive job where we speak with sales, traders, asset managers or hedge funds (these are our direct clients) as well as sophisticated institutional investors on a daily basis. But it also has its technical challenges. We are product and market experts who use this knowledge to determine the ultimate structure of any offering we take onto our platform before we then raise the capital.

Choosing J.P. Morgan
When I first came out of high school I had no idea that banking could be something I wanted to do. In fact, I had no idea what banks did at all - sell shares? But while I was studying Management at LSE, I kept hearing about the industry, and I was curious. It seemed like a challenging environment involving a lot of smart people, and that was certainly something I was looking for.

Starting early - Spring Week
Spring Week sounded like the perfect opportunity to find out more so I applied to what's now known as the 'Spring Week : Inside the Industry' programme. I was very open in my interview and admitted that I did not totally understand the business, but that I was keen to learn. That was what mattered, because the week answered my questions and gave me a fantastic insight into the world of investment banking - and the world of J.P. Morgan. 

During the five day programme, I had the chance to meet people from each of the business areas that J.P. Morgan recruited into and speak to them about their every day life. I took part in activities such as group exercises, skills workshops, recruiter sessions and presentations, and of course there were the social events where I met a lot of the employees. While getting an idea of the way the business works, I was able to make an educated decision about where I might fit in. I don't think I could have had a better introduction, and it really helped me with my interviews for a summer internship position - at the end of which I signed my contract to join full-time.

Looking back, Spring Week really opened doors for me. It gave me the chance to find the perfect team for myself amongst all the different divisions, markets, and product groups and I sold this in my application and interview. Three years down the line I am still here - but the job changes every day and I never stop learning!

Working at J.P. Morgan
My current role is all about relationships. It is up to me to listen to people and find out what they are looking for, advise at the right time, and manage expectations appropriately. Usually that means a lot of multi-tasking and prioritising, as everyone has competing needs. And pushing people where necessary to achieve the firm's goals. So, yes, it's busy, but I love the way it all fits together - and closing the deal gives me a real buzz.

The more experience you have, the more you travel and present to clients. We generally start transactions with a sales teach-in and then work with sales to set up a global roadshow - that can mean a full week of meetings across all of Europe while our overseas colleagues attend the meetings in Asia and the Americas.

Therefore, it's no surprise that my job is not restricted to trading hours. When I first joined we were incredibly busy and I worked very hard. My hours have varied since but I do find time to make my own plans and have a social life. We all share the burden, no matter what level in the hierarchy, and I love being part of a team that works this way.

Why I'm proud to be in Sales, Trading & Research at J.P. Morgan
I know there is a lot of negative press about the industry and everyone in it, but I genuinely believe banks add value to society. And I love working with smart, driven people that are creative every day and find solutions for clients' problems. The world just doesn't work without the market, and it's exciting to be in it every day.