Investment Banking Sales Brokers


Exploring this Job

Read publications such as the Wall Street Journal, New York Times, Financial Times, The Economist, and Bloomberg Businessweek to learn more about the business world, investing, and related topics. Many books provide a good overview of the investment banking industry, including Investment Banking For Dummies (For Dummies, 2014). Other strategies for exploration include joining school business or marketing clubs, conducting information interviews with sales brokers, and participating in sales competitions while in college (the Sales Education Foundation offers a list of competitions at https://salesfoundation.org/events).

The Job

Institutional sales are a core component of any investment bank. Sales brokers manage the bank’s relationships with institutional money managers (such as mutual funds and pension funds), as well as hedge funds, companies, governments, and ultra-high-net worth individuals. Duties for sales brokers include the following:

  • participate in morning meetings with research analysts (who explain their research and new overnight developments) and traders (who provide updates on trading positions and cover deals for brokers to pitch to customers)
  • review financial periodicals, business publications, stock and bond reports, or other material to keep abreast of trends affecting market conditions
  • contact potential clients via telephone or e-mail, or meet with them at industry events, to determine their needs, provide detailed descriptions of investment opportunities, and explain available services
  • advise current clients on available investments and present research to back up their recommendations
  • expand relationships with existing clients by taking them out to lunch, to sporting events, and otherwise schmoozing them
  • relay buy or sell orders to their firm’s trading department
  • assist in the post-trade process by ensuring the accuracy of all trades and to ensure internal risk controls are followed
  • inform and advise concerned parties regarding fluctuations or securities transactions affecting plans or accounts