Adam Kaldor

University:
Nottingham & Leeds

Degree Subject:
Bsc Chemistry

Desk:
Interest Rate Swaps

Briefly explain a bit about your role, your desk and what you do on a daily basis. My role as an intern varied from desk to desk but essentially was to make myself as useful as possible at all times. Some days I would shadow a broker asking questions and listening to conversations with clients, while other days I would help send out prices, work on the price boards and write up tickets. There is a great deal of opportunities to learn from and interact with senior brokers if you put yourself out there.

What made you choose interdealer broking as a career choice and ICAP specifically? I have pursued a career as an interdealer broker because the role matches my personality and has the opportunities and challenges I want in my career. As a highly ambitious person, interdealer broking offers a meritocratic system where talent is rewarded and also a great deal of networking and social opportunities which appealed to me. ICAP was an obvious choice as a graduate as it is not only the market leader, but also has the most comprehensive and structured programme out of all the brokers and a focus on bringing graduates through.

How has the current economic climate affected your career choice? It hasn't really affected my career choice as ICAP is where I wanted to be. However my decision to enter this area of the financial sector was reinforced after seeing many banks reduce their graduate intake, while market volatility has helped ICAP reach record revenues during the current economic climate.

What training and support did you receive during your internship? We had initial classroom training in both financial markets and broker etiquette which gave us a broad understanding of the skills needed before our rotations began. Throughout the internship we were given continued support in the form of a mentor as well as regular evaluations and feedback from the graduate recruitment team.

Tell us a little bit about any team building / networking / community events that you participated in as part of your internship? There are many social opportunities and events put on during the internship. I think it is extremely important to take full advantage of these opportunities in order to raise your profile and stand out. The events ranged from a pub quiz and archery evening to a casino night where the opportunity to meet past graduates and senior members of ICAP was available. We also participated in a fundraising day for one of ICAP's charities which was a great teambuilding exercise for the interns.

How has your experience of working at ICAP differed from your expectations prior to the internship? Having interned at a bank before ICAP, I expected a similar experience from this internship. However nothing compares to the buzz you experience on the broking floor and the unique culture found at ICAP. The internship also provided a greater amount of opportunities to prove yourself and meet senior brokers in both a professional and social environment which most certainly exceeded my expectations.

What is the best advice you can give to someone considering a career in interdealer broking? The best advice I could give to someone considering a career in interdealer broking is to network as much as possible. Broking is a people business and therefore it is paramount to meet a many people as possible during your career. Be prepared as different desks operate in different ways and therefore being able to adapt and react to changing markets is essential. Do your research before arriving; have intelligent questions to ask and find out which areas you are most interested in.

What are your main interests and activities and how do you think that they can help your success in this internship at ICAP? My interest in sport has helped during my internship as I am comfortable in the competitive environment and also having played football since a young age can communicate and work well in a team which is vital at ICAP. I also feel that my interests in travelling and experiences of living abroad have allowed me to relate to and build relationships with many people during my internship which helped with my success.

What have you enjoyed the most about your internship? One of the most enjoyable parts of the internship was the social side of the role. The work hard/play hard mentality really gives you the opportunity to get to know people and gain a true insight into what life as a broker at ICAP is all about. Another great part of the internship was the access to the senior brokers and their readiness to invest time in getting to know you. This allows interns to gain great exposure and invaluable advice from some of the best people in the business.

What qualities do you think make a good interdealer broker? One of the main qualities you need to possess to become a successful interdealer broker is strong interpersonal skills. Being able to relate to and understand the different needs of clients distinguishes the exceptional brokers from the rest. You certainly have to be quick thinking due to the nature of the markets and also highly motivated and driven to succeed in this competitive environment.