PERM - Global Markets - Fixed Income - Sub Financials Trader - ED

Who we are

United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

Role Summary

Is the next step in your career at SMBC Group EMEA? We’re looking for a Executive Director to join our Fixed Income team. 

Investment Grade Credit trading is a core offering within Fixed Income both in EMEA and globally. It is closely aligned to our lending and origination activities within SMBC BI and DCM.

This Financials Trader will focus on AT1 securities, which have demand from investors globally, and will work closely with our Bank Capital Advisory team.

The business spans two locations, London and Frankfurt, and has very close links with Tokyo, Hong Kong and New York. JGBs are traded on a back-to-back basis between EMEA-based clients and Nikko Tokyo

Business Area

Fixed Income has been identified as a key growth area for SMBC globally and the EMEA region has the strategic position of bridging the Japan and US geographies.

The Bank has strong growth ambitions for the Global Markets and Advisory businesses, which work hand in hand to deliver quality product to our clients.

Fixed Income consists of Credit, EM, Rates and repo trading businesses, salespeople to support these desks, MTN and support functions such as COO and Middle Office. 

The desk trades debt denominated in EUR, GBP and USD and its salespeople actively cover EMEA based investors for global fixed income product. 

Position Description

This senior level trading role will focus on building out our Additional Tier 1 platform and will work closely with our Bank Capital advisory offering within DCM.  We have strong institutional demand for AT1 product across Japan, Asia, EMEA and the US.

The annualised budget for this seat is in the region of $3-5mm.

The IG Credit trading team is budgeted to make $24m FY24 across six traders.

Traders are expected to work closely with our salespeople to provide an excellent service to our IG client base.

Responsible for growing and maintaining secondary AT1 bond trading franchise in terms of volumes and revenues in order to meet both personal and team PnL budgets. Securities will be mostly in GBP, EUR and USD.

Partner with Sales teams globally to increase our profitable market share in the Financial sector with our core investor base in Europe, Asia and the US.

Work closely with DCM originators and Syndicate to provide market and investor intelligence and help facilitate successful primary transactions

Build constructive and supportive relationships with relevant staff in other regions, notably Financial Traders in the US, Japan and Asia. Market your product to Salespeople in these regions.

Develop and manage relationships with brokers and market makers

Responsibility for risk management and compliance of your assigned book; managing positions and exposure, ensuring you stay within desk limits

Provide guidance, direction and development for more inexperienced members of the team

Lead and represent the department, where appropriate, in ad-hoc projects to improve the efficiency and effectiveness of the business.

Knowledge and Skills

Strong track record in trading AT1 debt with proven historical P&L performance befitting of a senior level trader.

Extensive, expert knowledge of the AT1 asset class and Financials sector more broadly.

Ability to manage AT1 credit trading in a resource efficient, profitable manner, within parameters of Limits within Dealing Mandate and within SMBC’s risk appetite framework;

Ability to work effectively in a small and energetic team with ambitious growth targets, leading by example

Strategic awareness and the ability to motivate and inspire sales and trading colleagues

Competencies

What we offer

For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.

As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:

• Hybrid and flexible working 
• Competitive paid leave days
• Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance 
• Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services  
• Access a wide range of learning and development opportunities and career progression opportunities 
• Ambitious remuneration package

So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!