Introduction to Debt Capital Markets

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BUILDING TOMORROW™

Introduction to Debt Capital Markets

Craig Rydqvist

rbs.com/gbm

Introduction

My background
Finance sector focussed education and experience but not ‘traditional’ IB route Education

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First degree – BSc in Management Studies; Postgraduate – MSc Masters in Finance (part-time).

Work Experience

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KPMG – Financial Sector Audit and Consulting (ACA); Barclays Capital – Finance followed by Trading and Structuring; RBS – Finance followed by DCM Origination.

Current Role

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Director – Conduit Origination; Sell side origination, execution and structuring; Buy side transaction analysis as RBS is ultimate risk taker; Line Manager for Global Banking Analyst Programme.

Mature
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(EURm) (%) 4,161 35 11.11 3,518 23 9.40 2,922 18 7.80 2,909 20 7.77 1,820 16 4.86 37,441 88 100 2013 Target Position: Top 5

Amount (EURm) 2,398 1,360 1,335 1,300 1,095
15,638

No. 13 9 8 9 6
37

Share (%) 15.34 8.70 8.54 8.31 7.00
100

● ● ● ● ●

Source: Dealogic Analytics

2013 Target Position: Top 5

RBS is a market leader in all the major DCM products
RBS00000

8

Major differences between DCM and ….
Corporate Finance

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Corporate Finance has lower execution volume As a result lots of time spent pitching strategic ideas DCM is more transaction focussed DCM bankers have more respect for your private life

Markets Markets covers, sales, trading, research and other areas so it’s a little hard to generalise Markets work more driven by market psychology and sort-term trends and relative value DCM generally more macro-economic focus so interaction is with the client C-suite

Equity Capital Markets DCM bankers are pessimists, ECM bankers are optimists DCM involves more ‘definite’ maths – bond maths is

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