Tuesday, May 22, 2018

Field Trip - An Insight on the Finance Industry in New York

By Gianluca Errico, Global MBA Ambassador 2017-2018, Finance Major



From Monday, 9th April till Friday, 13th April 2018, participants from the Finance Major of the Global MBA and students from the Master in Finance went on a field trip to New York where we had the opportunity to meet up with industry leaders from the financial sector. We met a variety of brokers, hedge fund managers, portfolio managers, financial analysts and chief strategists from various companies. We even had the chance to attend an alumni event to meet former students and hear about their experiences after graduation. The aim of the trip was to exchange industry knowledge within the sector and enlarge the network of the students. Even though we had a packed schedule, we still had time to explore Manhattan. To give you a deeper understanding of this enriching adventure, I want to share some of the highlights of this experience with you.

Bloomberg - The Tech leader within the finance industry

One of my highlights was definitely the visit to Bloomberg. Established in 1981, Bloomberg is a forward-thinking company focused on building products and solutions for the finance industry. As a global information and technology company, they connect decision makers to a dynamic network of data, people, and ideas – accurately delivering business and financial information, news and insights to customers around the world.

Since many participants from our major want to work for banks or as asset managers, this visit was essential. The software developed by Bloomberg is one of the most important and widely used within this industry. Knowing how to use this software is essential to landing a job within this competitive financial sector. Therefore, ESSEC not only makes it possible to work with this tool on campus, but we had the opportunity to ask questions regarding this software during our field trip. I believe that these new insights will certainly make us more competitive during our job application processes.

Bloomberg is not just a finance, but also a tech company. From “smart working” offices to state-of-the-art facilities for employees, once in their headquarters, you can truly feel the spirit of a tech company. Also, the entrepreneurial mindset of the employees was impressive. As a person with a pure finance background, being exposed to a workplace that incorporated a “tech” dimension also made this trip especially appealing.

Hywin Capital Management LLC - The possibility of entering the Chinese investment market right in NYC

During our trip, we also visited Hywin Capital Management LLC, a Chinese investment firm established in 2016 to provide investors with cross-border investment opportunities. Their current focus lies in quantitative strategies, a multi-manager fund, real estate and private equity.

This visit was extremely interesting, as we got the possibility to exchange with the Chief Strategist of the New York office and one of his Portfolio Managers, and to get exposed to the development of the cross-border investment possibilities and how the Chinese stock market is changing.

Some of us might not have the Chinese stock market in our focus, but with the swift economic growth in China and the willingness of the government to retain large companies within the country, the market has one of the biggest potentials worldwide. 

I think this visit stayed in my memory, as it reflects again what ESSEC is about. It's about being international and focusing on all markets worldwide - not just the current big ones, but also the ones which will be the leading players in the future. 

ICAP - The Wolf of Wall Street in real life

On Wednesday, we went to visit ICAP, a UK-originated business, which focuses on electronic markets and post-trade business. Our meeting started with some interactions with the CEO of the New York office about the business strategy and the opportunities within the company. We then went for a tour around the trading floor. In my financial background of over 7 years, I have never seen a trading floor like the one at ICAP. If you want action and you want to work on a trading floor like the one in the movie “The Wolf of Wall Street”, then ICAP is definitely the company which you should apply to.

This visit left a deep impression on me as I have had a feeling that the trading business might end soon with so many banks switching their focus to automated solutions. However, this was not the case here at ICAP. The company continues to operate their trading business through phone calls. Their business model would definitely be interesting for potential traders, and their growing revenues prove that this strategy works for them.



To summarize this trip, I can say that New York was an amazing experience. Being exposed to a new market after spending time in France and Singapore, as well as London for our Field Trip late last year, definitely makes me see the bigger picture. We certainly gained a lot, not only in terms of knowledge, but also in terms of building up our network, which is crucial for our careers. After this trip, I can say for sure that New York is not just the city that never sleeps, but also the city that holds a wealth of job opportunities for people interested in starting a career in finance.

Interested in finding out more about the Finance Major of the Global MBA? Get in touch with Gianluca through ESSEC Talk!

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