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Welcome to the Finance Club Kickoff Meeting

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'The Finance Club is a student-run organization that provides members interested ... Members of the Finance Club have a strong commitment towards building Michigan's ... – PowerPoint PPT presentation

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Title: Welcome to the Finance Club Kickoff Meeting


1
Welcome to the Finance ClubKickoff Meeting
  • Ross School of Business
  • University of Michigan
  • September 2005

2
Agenda
  • Overview
  • Financial Services
  • Timeline
  • Finance Club Overview
  • Functional Areas
  • Corp Finance
  • Investment Banking
  • Research/Asset Management
  • ST
  • PWM
  • Wrap Up
  • To Dos
  • Company Presentations

3
Financial Services Landscape
  • Finance
  • Club

EVC Club
Investment Assoc.
  • Corporate Finance
  • Investment Banking
  • Capital Markets Syndicate
  • Research
  • Sales Trading
  • Asset Management
  • Private Wealth Mgmt.
  • Venture Capital
  • Private Equity
  • Turnaround Mgmt.
  • Asset Management
  • Equity Research
  • Inst. Sales Trading
  • Private Wealth Mgmt.
  • Personal Investing

4
Internship Search Timeline
Its Sooner Than You Think
Company presentations
Sept. / Oct.
Form study groups, review Course pack, and begin
profiling potential employers
October 14
Resume deadline for iMpact
Oct. 18-21
1st Term Final Exams
Oct. 24-26
Wall Street Forum
Ross Corporate Finance Forum Informational
interviews
Nov. / Dec.
On-campus interviews!
Jan. / Feb.
5
Finance Club Overview
  • The Finance Club is a student-run organization
    that provides members interested in finance
    careers (or finance-related) the resources,
    tools, and guidance needed to successfully reach
    their professional goals.
  • Members of the Finance Club have a strong
    commitment towards building Michigans brand in
    Finance.
  • Your Resources
  • OCD
  • Alumni
  • Faculty
  • Second Years
  • Each Other

6
Quotes from Alumni Recruiters
  • The Finance Club at Michigan is the best of its
    kind in the nation because it has to be.

If you have to, miss a class. NEVER miss a
Finance Club meeting.
The most successful students are those that
treat the Finance Club and the recruitment
process as a fifth class.
Sometimes we like to ask individuals what they
did in Finance Club over the past week just to
see if they have been preparing themselves
7
Corporate Finance
  • CFO and management team
  • Forecast revenues/expenses - budgeting
  • Invest in projects to maximize shareholder value
  • Treasury
  • Cash management, Invest excess cash
  • Controller
  • Internal auditing
  • Risk Management
  • Country risk
  • Market risk
  • Strategy and Business Development

8
CF - Just the Facts
9
Investment Banks
  • Raise debt and equity capital for clients
  • Maintain active securities markets enabling cost
    effective distribution
  • Financial advisory services
  • Mergers acquisitions
  • Divestitures
  • Restructuring
  • Merchant banking (private equity investment)
  • Syndicate selling securities to the street

10
Investment Bankers
  • Perform industry analysis
  • Create quantitative models to determine return on
    investment for all stakeholders
  • Perform sensitivity analyses based on different
    scenarios
  • Offer the client multiple financing options
  • Leverage the Capital Markets to execute these
    proposals

11
IBD - Just the Facts
12
Research / Asset Management
  • Research
  • Also known as a Sell-Side analyst
  • Generates investment ideas for investors
  • Conducts fundamental analysis of companies within
    an industry
  • Identifies factors and trends that drive a
    companys or industrys future growth and
    comments on valuation of securities
  • Examples CSFB, Morgan Stanley Deutsche Bank
  • Asset Management
  • Known as the Buy-Side
  • Manage a portfolio of securities for other
    investors
  • Buy-Side includes
  • Mutual funds, Pension funds, Insurance companies,
    Hedge funds
  • Examples Fidelity, Janus, Oppenheimer, Apollo

13
Research - Just the Facts
14
Sales Trading
  • Represents the public or secondary market where
    investors can trade securities
  • Traders make markets in securities, providing
    liquidity to the market
  • Salespeople build relationships with the buy-side
    to draw trading business to its bank
  • Trading and sales desks must work together to be
    successful many internship programs include
    rotations in both

15
ST - Just the Facts
16
Private Wealth Management
  • Develops and manages relationships with wealthy
    investors
  • Markets the investment services of the firm
  • Advises clients on investment opportunities
  • Analyzes client portfolios
  • Additionally, provides advice regarding banking,
    lending and wealth transfer needs

17
PWM - Just the Facts
18
CONFUSED?
  • Conduct Self-assessment- interests, skills,
    sacrifices
  • Schedule OCD counseling appointments
  • Realize that finance is a wide field offering
    many different and exciting opportunities
  • Learn more about the functional areas
  • Ask questions- DUMB ONES TO US, smart ones to
    recruiters
  • Second-years are your best resources for
    information and first-years are your partners

19
To Dos
  • Company presentations begin tomorrow
  • Resume book deadline of October 14
  • Start forming study groups
  • Sign up for FinClub06
  • Go to the Finance Club Website
  • Sign up for Finance Club

20
Company Presentations
  • On a daily basis, go to OCD Events and look up
    which companies are coming when look for
    Office Hours too
  • Attire is business casual for every event unless
    stated
  • Research a companys web page before they arrive
    (vault, wet feet, etc are also great resources)
  • Ask great questions that show your knowledge
    about the company, industry, and market stay
    away from personal/specific questions!
  • Be a good, courteous listener
  • Do not walk around/leave
  • Do not talk
  • Do not disregard proper event attire
  • Do not eat food
  • Do not ask poorly thought out questions
  • DO NOT HAVE YOUR LAPTOPS UP
  • DO NOT HAVE YOUR CELL PHONES TURNED ON

21
Company Presentations
  • Be able to talk the talk
  • Read Wall Street Journal everyday
  • Review company/bank websites
  • Company overview section / investment bank
  • Investor relations / press releases
  • Investext for analyst reports, Vault.com, WetFeet
  • Be able to articulate early on
  • Why do you want to do IB?
  • Why XYZ bank?
  • Tell me about yourself
  • Most important listen, learn, and dont
    eliminate yourself

22
Company Presentations
  • Good Questions
  • Questions about their internship program
  • How the bank is organized
  • Questions about the banks strategy
  • Deals bankers have worked on
  • Trends in the investment banking industry
  • Bad Questions
  • Too detailed Why did your banks credit card
    net income decline by XX in the third quarter?
  • Too vague / easily researched How big is your
    investment bank?
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