Why I am Interested in Investment Banking
I have great deal of passion in investment banking on the premise that the industry holds great prospect to attaining my life goals. I truly believe that investment banking is one of the challenging industries in the global economy, and being in such working environments has been my desire. Investment industry offers a vast range of challenging opportunities therefore working some firms operating in the industry would help me gain the appropriate business knowledge and skills that I will use in future after retiring. Joining the industry presents opportunities through which I can learn different knowledge, skills and capabilities relevant to investment. The investment industry provides numerous opportunities for me to gain good business skills and ideas that can be helpful in the fast-paced and dynamic business environment within which a firm can thrive. Investment banking industry is a high world of finance. 1
My interest of being an investment banker has developed over time. Thanks to improved technology which has enabled people from all corners of the world access information quickly and easily. The collapse of Lehman Investment Bank in the United States attracted my attention. I did research to investigate what led to the downfall of the company. The findings of my research indicated that the company had collapsed due to poor investment in the mortgage markets. Another prime reason for the collapse of the company is attributed to high executive pay during the economic crisis. I only wished that I was among the investment bankers in the company. I have sought far and wide information about investment banking. In the pursuit of attaining valuable information, I interacted with my relatives who have been working in the industry. Their way of life inspired me to working hard in order to achieve my dream.2
Why I am interested in working at M&G Investment
I was initially attracted to M&G because of its fame owing to record of investment excellence and very appealing innovation culture which stretches back over 30 years. I truly believe that I will gain the best possible start to my career by learning from successful professionals within an international environment, using industry best practice. I consider that your commitment to partnership and teamwork will complement my style of working, and will also enable me to both contribute to and draw from the expertise of your team. I value your commitment to professional development, and am keen to maximise the opportunities you offer to build upon my existing knowledge.
Having managed my own business I appreciate the value of good customer service and support, and am encouraged to see that you have maintained a strong local customer focus despite the size of your business. I personally found success by building an understanding of specific client needs, and would like to replicate this success within your organisation by working with your diverse client base. Having chosen to enter the financial sector at a challenging time, I was also reassured to see that you value high professional ethics and integrity, and am confident that I will be an asset to your company in this respect.3
I appreciate the fact that your company offers constant stream of fresh challenges thus enabling me learn or acquire new skills. Working for the company, albeit short term, would enable me access increased opportunities characterized by culture of high performance. I also acknowledged your company’s efforts to accommodate the needs of employees through educational and training programs on investment scheme effects. I am assured that I will broaden the breadth of my business skills.
I am looking for a challenging career which will make the best possible use of my professional experience and my degree in Maths and Economics, and am sure I could contribute significantly to your team whilst developing my skills further.
Actions that I have personally taken to make a Difference to Charitable Organisation (Senteble)
I was raising money for a charitable organisation Senteble to create awareness in my university and the local community. The mission of the charity is to transform the lives of Lesotho’s orphans and vulnerable children who are the forgotten victims of poverty and of HIV/AIDS. Basing on personal experience, I have discovered that orphans and children brought in poor family setups are prone to numerous challenges. They experience very many negative changes in their lives. They suffer emotional neglect long before they are orphaned. Children without parents experience trauma in their lives in the event that the society does not take corrective actions.
To achieve my goal we had to overcome few obstacles, my target was initially to develop a team capable of raising £2000 in a week. As a productive team leader I implemented this by recruiting two teams of fellow students, the first team set up a stall near the student union to sell baked cup cakes and krispy kreme donuts. Second was to dress up in different costumes to gain attention from the student. We had achieved both of our goals by raising more money than we expected in a short period of time. We had also our story written in the university new letter and in the local paper.
I arrive at the decision of raising such amount of money after critically analyzing the future implications of the condition and the impact that the future impact that the organisation could create among the lives of the victims and the society as a whole. The money could be used to assist the victims. In my mind, I knew that availability of sufficient money would be used to change the lives of the individuals in the long run. These monies could be used to fund the education of the orphaned children, and this could positively change the society in the long run.
I credit myself for spearheading a very successful initiative. I organized the students into two teams of 20 members. We raised more than £2000 within four days. The money has been utilized by the organisation under different managements to improve the general welfare of the affected victims in Lesotho. The funds have also been used to conduct campaign on how these victims should be treated in the society. In the recent days, the extended families in the Lesotho communities have become part of the solution to mass orphan hood. The community has come out to adequately support the children.
An Important Decision that I made
I was about half way through my life and I did not know what decision to make. The difficult decision that I was to make is to marry or get a business degree. I could say getting the degree was an important decision, but I could also say that getting married was also paramount to my life. This issue disturbed for a long time. I did critically analyse the merits and demerits of each opportunity, only to discover they had similar weights. If I had not drop the idea of marriage, I would not have gotten my degree course and my life would have been totally different. This is a simplistic illustration of a decision that would have account for the future complexities that could have arise.
When I think of my current life, I think I made the right decision. Education has changed my life and it is a source of my family pride.
What attracts me to a career/internship at M&G?
I really know that deciding where to start my graduate career basing on my strengths is not an easy thing. My dreams of working in a well established and reputable organisation will come true when I land on internship programme at M&G. From the comments of friends and relatives working at the company, I have been attracted to pursuing an internship programnme in investment banking in the company. The internship programme is quite unique than those in other firms within and outside the investment industry, and this is what has attracted my attention and interests. In case I am fortunate enough to join the company, I will be treated as a key member from the first day. I will be actively involves in various business undertakings of the entity. It is has been my wish to work in demanding environment thus M&G remains the only company within the United Kingdom which can enable me realize my dreams and ambitions.
Not only are they treated as key members of the entity, interns are also accorded good foundation where they can advance their specific knowledge and careers. I am also impressed by the fact that the company provides interns with opportunities to explore the management run businesses within their areas of responsibility. This is something that distinguishes this company from other firms in the investment industry. I will be allowed to interact freely with people in all departments, thus enabling me develop a wide range of skills and competencies in various investment areas.
As an intern, I would gain exposure in Fixed Income and Equities among other business investment areas. The interns are established as teams thus providing me with opportunity to interact and network with other graduates with different educational background. I am also attracted by competitive salary during this period.
Outline any positions of responsibility you have held within or outside of your formal academic study
I have held a position of an accountant and finance manager at Unique Former Care Home Hotel Property. Here, I used to carry research and report on factors affecting business performances in the United Kingdom. I was also concerned with developing and maintaining relationships with external stakeholders of the company such as auditors, bankers, solicitors and Inland Revenue. I managed to source finances for debt facilities in the company.
In 2008, I established Parsa Luxuries Cakes, designer cake company and I served as the director. I was concerned with management of all aspects of the business. I performed accounting, finance, and marketing and production management. Notably achievement as a director was winning of lucrative contracts with key business players such as Jumeira Carlton, Dorchester and Landmark.
At the university, I spearheaded a funds drive for charitable organisation to raise money that could be used to help improve the lives of Lesotho’s Orphans and vulnerable children who are the forgotten victims of poverty and of HIV/AIDS. As a team leader, I developed a team to pursue this goal. We managed to raise more than £2000 in less than a week and this was used to created awareness of the situation Lesotho.
At high school, I started science club. I become the chairman and I was concerned with arrangement of club activities. I organized events for raising money to fund the activities of the club. The club has grown significantly. Currently, it is the only strongest existing club in the school.
Further information that would be taken into account when reviewing my application
I actively participate in community development projects. I am the Chairman of Women Finance Trust Organisation in my village. Horse riding is my hobby.
My understanding of the daily tasks during my Internship Programme at M&G
As an intern in investment banking program at M&G, I am responsible for management of the investment portfolio of the clients. I will also be an advisor i.e. to counsel the clients of the company (investors) concerning guaranteed investments. I will be entitled to give advice and guidance to people who want to get start-up with the investment plans. With the aid of the existing investment managers, I provide company’s clients with up to date information for investment platforms. I would advice them on the most profitable business ventures where they can invest their money. Whenever a new investment product is introduced, I am obliged to acquire sufficient knowledge so that I can deliver the right service to the clients of the company. With other experienced investment management committee, I would specify investment objectives and constraints for the investors. This entails determining safety of principal, current income and capital appreciation. It is my responsibility to address ascertains the constraints that may arise out of liquidity and time horizon. Taking up the roles of an investment manager at M&G is very interesting because I will gain in-depth exposure to various front office investment areas and wide business.
Industry-based challenges faced by Investment consulting clients
Current business environment is turbulent, and this is posing great deal of challenges to investment consulting clients of M&G. Most of these clients invest in European single market which is currently experiencing notably property bubbles, depopulation and ever rising inflation. Since early 2008, European Union countries have been hit hard by the recession, global credit crunch and ensuing international slowdown. The deep recession that is being experienced has adversely affected investment markets, a condition that would cause a lot of problems to the clients.
The clients are facing mounting resource constraints due to ever increasing input costs. This has become universal backdrop to start-ups in the investment banking industry. With oil approaching peak output, reordering of economic priorities is the order of the day in many households. Thus, sustainability has become a serious business issue across the investment banking industry. Seismic demography being experienced in the European countries is challenging factor to the investment consulting clients of M&G. This often changes the people live and work.
Professional qualifications that I would like to take
I would like to take Investment Banking. From experience, I have acquired not only sufficient but all relevant knowledge on investment industry. I possess deep knowledge and understanding of how economic trends affect the investment industry. I know how to assess risks, and how to limit financial losses in business investment be it of the company or the clients I represent. My vast knowledge and experience in investment industry would be useful to the organisation because I would be able to attract large number of clients. I am effective in communication and this will enable me present investment information to the clients and the corporations. The stellar interpersonal and communication skills that I possess are necessary when interacting with clients all over the globe.
A time when I have had to explain a complex concept to someone who had no prior knowledge
I was asked by the lecturer to present math concepts, a topic which many considered complex. I knew that the way present my topic influence the way the class would understand it. Before I crafted my presentation, I look at the math concept as if I was a complete beginner to it. Thereafter I imagine what would need to be explained to an individual with no prior knowledge. The first thing I did was to develop the concept clearly on the board. In my drawing, I labeled points I wanted the students to focus on. Next to the picture, I wrote out a sentence about the concept. I went on to explain the concept while I touch on each important point without leaving anything out. Throughout the presentation, I controlled my voice to make sure that I was clear and precise. At the end of the lesson, majority of the students had understood the concept.
Describe a time where you made suggestions to improve an established process
My Father had established a poultry project. However, it was doing well and this disturbed me so much. The genesis of the challenge was lack of an automated food and drink system, and this compromised the amount and the quality of food and water provided to chickens. One day, I suggested that we acquire one such system. My father was reluctant to accept my proposal citing financial constraints. In the course of family discussions I proposed that we could buy the system using family contribution. We did contribute and the system was acquired. Since then, the poultry business has flourished.
M&G Investments, “M&G Corporate Website”, 2011. Retrieved November 26, 2011 <http://www.mandg.co.uk/Corporate/AboutMandG/index.jsp>
1M&G Investments, “M&G Corporate Website”, 2011. Retrieved November 26, 2011 <http://www.mandg.co.uk/Corporate/AboutMandG/index.jsp>