The third session of NHC Capital Market Salon started with a lecture, covering general overview of Capital Market, Investment Banking Structure, roles in Equity Research, and career path in Capital Markets, followed by interesting and insightful panel discussion among the experienced specialists working at Capital Markets.
The speech began with the overview of Capital Markets, specifically Markets by Product & Functions, Financial Intermediaries and Clients. Markets can be classified into Equity Capital Market and Debt Capital Market by product types, or classified as Primary Market or Secondary Market by functions. On top of the market classification mentioned above, financial intermediaries mainly include commercial banks, investment banks, mutual funds, pension funds and stock exchanges, clients of which are often corporate clients and institutional clients. Later on the Cheryl discussed different roles under equity research in various organizations. The Lecturer believes the main differences among Equity Research and Investment Banking are the service focus, factors of star performer, qualification, exit opportunities and Chinese wall. She also illustrated the difference of working as a sell-side analyst and a buy-side analyst.
Cheryl Tang, Managing Director at Canaccord Genuity Inc, shared her insightful lecture about different functions in Capital Market and frankly provided many useful suggestions for a successful career in that field. Cheryl believed that in order to perform well at this position, standing out from all the peers is crucial. It requires us to be highly communicative, be able to think creatively and it needs the core ability to build trust with colleagues and clients. It would be of great help to the later career even after quitting equity research, if analysts were equipped with solid fundamentals, logic thinking ability, excellent presentation skills and rich work exposure.
The first session ended with a both informative and interactive panel, thanks to our four fabulous panelists. The discussion touched upon threat from AI and regulations, timing for exiting the industry and best skills for each of the panelist.
With the great success at first session, we look forward to seeing you again on the next session of NHC Capital Markets Salon 2017!