iShares is one of the world's largest ranges of exchange traded funds (ETFs), which is marketed and managed by Barclays Global Investors (BGI). iShares funds are available to institutional investors and private investors.
Barclays Global Investors BGI is the world’s largest fund manager with offices in 14 countries and more than 3,000 employees. We currently manage €1.4 trillion (as at 31 December 2007) for institutional and private clients around the world. Recognising the differing financial needs and goals of investors, BGI provides unparalleled choice when it comes to investing. We offer funds focusing on active, index and asset allocation strategies, liability driven investment, currency strategies, cash management, securities lending, hedging strategies, transitions and commodities trading. BGI is also the global leader in exchange traded funds via our iShares business. Our clients include 68% of the world’s largest 100 pension plans and we continue to develop a strong retail business, where we can leverage from the Barclays Group plc. We are headquartered in San Francisco, California with the London office as the other key centre.
iShares iShares is one of the world's largest ranges of exchange traded funds (ETFs), which is marketed and managed by Barclays Global Investors (BGI). iShares funds are available to institutional investors and private investors. iShares funds combine the advantages of stocks with the benefits of index funds: iShares can be bought and sold like any other shares listed on a stock exchange and provide instant exposure to an entire index through a single security. They therefore combine the flexibility and tradability of a share with the diversification of a fund. iShares funds are a flexible mechanism for achieving cost-effective market exposure at the desired level and at the moment it’s required. The remarkable growth of iShares in recent years is a testament to the diverse uses of these funds in securing returns, managing risk and controlling costs. There are various iShares funds listed on major stock exchanges around the world and accounting for more than £208 billion (€283 billion) in assets under management. (BGI. 12/07) For further information please see www.ishares.eu
Key Responsibilities
1. Broker Dealer Trading Relationship Management iShares has a multi-dealer model whereby clients may transact our ETFs with numerous intermediaries (25 plus). iShares' strongly believes that this is an area of key competitive advantage and provides our clients with best in class ETF liquidity and execution options. As our clients do not transact directly with the Fund, it is essential that these intermediary relationships are well managed and proactively developed. Key responsibilities in this respect are to -
Work with the Broker Dealer Sales Team, proactively managing the relationships with the Broker Dealer (BD) execution/trading desks at our Investment Banking Intermediaries (CSFB, Barclays Capital, DRKW, Goldman Sachs, Merrill Lynch, Morgan Stanley, etc.)
Work to ensure that iShares is the BD's preferred brand from a trading perspective
Work to ensure that the BDs execution traders are well connected with their internal counterparts in a way that drives the uptake, liquidity and execution of our products (i.e. Sales Desks, Derivatives Desks, Lending Desk, Prime Brokers, Structuring desks etc.)
Manage and develop the BDs ETF appetite and capabilities with a view to increasing their trading coverage of our products over the counter (OTC) and on-exchange
Work with other interested iShares parties to increase the BD's appetite and capabilities for supporting the trading of our Fixed Income product range
Work with the iShares Broker Dealer team to develop and implement iShares "seeding" strategies (money to start new funds)
Work with relevant internal functions to ensure that the BDs voices are heard and where beneficial their requirements are met Discover and develop mutually beneficial BD relationships
2. Inter-dealer and client matching
The iShares multi dealer model enables iShares to introduce it's clients to the BDs best positioned to execute their particular deals. The team also acts as a hub through which inter-dealer matching of interests can be made with a view to reducing BD costs and increasing iShares liquidity. The iShares Broker Dealer Manager will be responsible for managing the relevant internal and external relationships, process and associated risks in this area. The Broker Dealer Trading Manager will take the report of one team member working in this area and there is strong potential for the team to be expanded in the future should the service continue to be successful.
On a real time basis, keep abreast of BDs inventories, axes and trading strengths/weaknesses
Match clients with brokers in real time to ensure best execution and trading experience for the client
Match opposite BD interests in real time to reduce BD costs and improve liquidity - working closely with Primary market team and Head of Market Structure
Conduct pre-trade analysis for clients
Attend sales meetings to discuss client execution strategies
Produce ad-hoc and periodic internal and external collateral to aid the sales and marketing effort
Experience Required
Experience working in a trading environment (either in a trading or sales role)
Must have an excellent understanding of the financial market
Must have proven experience of managing relationships with clients
Previous experience of team management is highly desirable
Understands and manages risk appropriately
Personal Attributes
Team player
Able to operate effectively with senior managers
Approaches work with enthusiasm
Educational Background
At least educated to degree level, ideally in a mathematical or scientific degree
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