Subsector(s): Banking Profession: Institutional Sales

Typical job titles Sales

Description Institutional sales professionals develop business relationships with large institutional investors. Institutional investors are those who manage large groups of assets, for example pension funds, insurance companies, asset managers, or large corporations. Their primary task is to speak to investors and are often responsible for up to 30 clients. They have to convey information about securities to institutional investors and take orders for financial products. Institutional sales professionals have contact with asset / fund managers and the banks own traders.

Tasks could include

Pitching to customers over phone and face to face Meeting analysts to discuss research and recommendations Reporting back research to portfolio managers Giving orders to traders Marketing initial public offerings to investors

Competences: skills and qualities needed

Sales and marketing skills Outstanding client relationship management skills Diligence Presentation skills Excellent business communications skills Ability to work within a fast paced and demanding environment

Knowledge An employer will not always require the candidate to have this knowledge when entering the profession, although they will expect that it will be acquired through training and qualifications.

UK institutional investment markets and good market sector knowledge An good network of clients

Hours of work Institutional sales people can work 8 – 10 hour days, but with travel the hours can be significantly longer.

Typical work environment An office based environment, but there will also be extensive travel.

Minimum Qualifications required to enter role The opportunities to enter institutional sales are for graduates. Employers will require entrants to be numerate, but will accept graduates from any subject discipline who have typically achieved a 2.1 degree. Each employer will specify their own exact academic requirement and subject. Most people enter institutional sales from an asset management or client relationship management role. It will be expected that professional qualifications will be obtained. These may include:

CFA Society of the UK (CFA UK) Investment Management Certificate Securities and Investment Institute (SII) Certificate in Investment Management Chartered Financial Analyst (CFA) exam

Additional qualifications Institutional sales professionals may progress to get chartership or fellowship from the appropriate professional body or also to gain a masters degree or MBA.

© The Financial Services Skills Council – June 2008

Progression possibilities and salary indication Institutional Sales

££££££ + bonus

Typical employers Investment banks, wholesale banks

Where in the UK are there opportunities to be employed in this role? Major financial centres.

What do employers look for when recruiting? Employers look for candidates that have investment and corporate finance experience, who have outstanding client relationship management skills and a good understanding of the financial markets.

Progression and future trends Sales skills tend to be in short supply and the function is always a necessary part of the industry.

Related professions Asset manager, corporate finance relationship manager

Additional links Benedix: www.benedix.co.ukSII: www.sii.org.ukCFA Institute: www.cfainstituteorg.ukCFA Society of the UK: www.cfauk.orgTARGETjobs: targetjobs.co.uk/finance/

Salary levels without bonus and benefits package £ £15,000 to £22,000 per year ££ £22,000 to £30,000 per year £££ £30,000 to £40,000 per year ££££ £40,000 to £50,000 per year £££££ £50,000 to £70,000 per year ££££££ £70,000 and over per year

This profile is part- funded by the City of London Corporation as part of its commitment to bridging the gap between the City and its

neighbours and increasing prosperity across the City fringes.

© The Financial Services Skills Council – June 2008