New Traders Wanted

Standard Chartered is going to hire 1,800 traders over the next three years.

Their goal is to increase revenue to $US 10 billion by 2014 from $US 4.4 billion last year. “We’re just scratching the surface on what the opportunities are,” Stan-C honcho Feder said. “Offshore yuan-denominated products are probably number one on our list.”

How are you going to prepare for this opportunity?

How are you going to differentiate yourself and detail the fact that you can trade any market on your resume?

GPAs don’t matter, nor do your MBA or CFA designation. Everyone has those. What’s different about you?

Read: Standard Chartered to hire 1,800 For Trading Division.

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  • tt

    what is the criteria for hire, do you guess. the real answer?

  • Anonymous

    self-awareness and high level of emotional intelligence. No one wants to be
    the next Barings.

  • Kshitijkgupta

    I am obviously not upto date. I thought they were trying to discourage banks from speculating with public money?
    These are traders or market makers? 1,800 ?? !! Are we talking about traders – is this talent so commoditized now?
    This bank may be next in line to get nailed in the coming 2 decades in the next recession. Better if top bosses took fatest salaries till retirement and left the next generation of managers to cook new ideas like this one to milk customer assets for their fat salaries….and run

  • Anonymous

    Not sure what role the traders will play. My guess is they are hiring both
    agency and principal traders/market makers. You’ll probably have some Sales
    Traders and Prop Traders in there too, as well as some product specialists.

    If you take 1,800 new hires over 3 years, you get 600 per year. With
    attrition, that might be a lower net number as well.

  • Manuelbravochico

    Prop trading isn’t as much a commodity as corporate finance, mergers,etc. Sales trading probably is a little more if you rub out the fiascos at SocGen {kerviel} , Barrings, etc. Add to it the blur between what constitutes Sales/Prop trading and I’m not so sure how they going to pull it off. 000’s of traders interview at biggest funds every year. They hire just a few. I don’t see a major difference here.

    Basically, if this was a stock, I’d short it.

  • Anonymous

    Good points. I think that the funds are looking for established traders
    though. If you can get hired as a prop trader at an IB or wirehouse, they’d
    pay for the training…if you can get in (a big “if”). That was the point of
    my post…how do you differentiate yourself.