Hi guys, I’m applying for a position in Wholesale banking division. I’m interested to know in details what wholesale banking is about. What are the business functions of Wholesale banking? What are you guys doing everyday in this function? What skills and experience you need to do best in this division? Any challenges you’ve encountered so far? Thanks all for any feedback.
Hi, any thoughts on my questions. All input are highly appreciated. Thanks guys.
I’ll take a stab. Wholesale Banking is somewhat of an umbrella term that can represent different groups. Your instiutional lending (large corporate lending) and loan syndications groups can belong to the wholesale lending.
it’s basically the opposite of retail. In your large banks that are ‘diversified financial services’ companies, i.e. wells fargo, wachovia, b of a, it can range from investment banking to merchant banking, to prop trading, to asset management, to international trade to corporate banking-- basically providing financial services to other businesses. It does not include retail services where the products are being sold to individuals (some exceptions apply).
In commercial banking terms, wholesale banking deals with corporates and institutions selling all sorts of banking products to them
Thanks so much for your replies. Anybody working in Wholesale banking, or some similar division now? What are the experience and skills you need to highlight to employer to match with what they are doing? (i.e. analytical skills, financial modelling, client management and servicing, etc?).
I currently work for a large bank in a specialized industry group. We primarily participate in loan syndications but also act as an agent on occasion. Our group is structured where we have relationship managers who are basically responsible for everything and then we have credit analysts who provide support to the relationship managers in but primarily focus on analyzing borrowers/monitoring the portfolio of credits. After we are involved in a deal, the relationship manager will try and cross-sell various other products such as trust services, cash management, interest rate swaps, payment processing, etc. How did I get into this area? I worked in another area in the bank and transferred internally. I facilitated this process by preparing a research report on a publicly traded company and submitting it with my resume. A potential employer will want to see that you can analyze financial statements, analyze a company’s industry as well as competitive position within their industry, outline current and potential risks, etc. Good writing skills are also important. If you are looking to be a relationship manager than you will also need various contacts at other corporate and investment banks as well as presentation/sales skills.
Thanks TMurf for your invaluable input. This helps me a lot in preparing what I need to say to market myself.
TMurf Wrote: ------------------------------------------------------- > I currently work for a large bank in a specialized > industry group. We primarily participate in loan > syndications but also act as an agent on occasion. > Our group is structured where we have > relationship managers who are basically > responsible for everything and then we have credit > analysts who provide support to the relationship > managers in but primarily focus on analyzing > borrowers/monitoring the portfolio of credits. > After we are involved in a deal, the relationship > manager will try and cross-sell various other > products such as trust services, cash management, > interest rate swaps, payment processing, etc. > > How did I get into this area? I worked in another > area in the bank and transferred internally. I > facilitated this process by preparing a research > report on a publicly traded company and submitting > it with my resume. A potential employer will want > to see that you can analyze financial statements, > analyze a company’s industry as well as > competitive position within their industry, > outline current and potential risks, etc. Good > writing skills are also important. If you are > looking to be a relationship manager than you will > also need various contacts at other corporate and > investment banks as well as presentation/sales > skills. Tmurf, thnx for your input…very helpful I currently have two offers with two different Major banks… Commercial Banking Associate and Credit Analyst… Which one will transitiion me easier to a position like yours? Any insights that you might have about these two positions will be highly appreciated?
TMurf- do you work for wells fargo?
nyami - I can’t comment on the two positions without additional information. I’m not sure about the uniformity across banks concerning titles/duties. I’d be glad to help if you have any other information that you could post about the two positions. clos83 - I don’t work for Wells.
who do you work for? (if you don’t mind me asking). the talks of relationship managers and cross selling i thought for sure u were with wells
clos83- shoot me an email at tmurf80 at yahoo. I’d rather not post it here as it would be easy to figure out who I was based on my handle and what I’ve posted here.
Tmurf…if you dont mind, could I email you the details of the job description than post them here?
nyami, sure, that would be fine.