Hoare Capital Markets LLP

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jamesr1ley

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Hi,

I have been invited for an interview at Hoare Capital Markets LLP. The website is http://www.hoare-capital.com

The site says:

Hoare Capital Markets Management team comprises of senior executives from firms such as Tullett & Tokyo, HBOS, Credit Suisse, Deutsche and Barclays Capital.

Senior partners Nicholas Hoare and Tony Main each bring 25 years of executive experience sales and trading.

The Hoare Capital Markets Team has been selected to reflect the firm's exacting standards of traditional values, trust and integrity in transaction execution. The team are experts in their field and have direct and immediate access to both wholesale pricing and intelligent market information relevant to our clients.​

However when I search the internet I didn't find get a great deal. Mainly a few job adverts and a few free directory listings. See search results

The website doesn't have a rating in Alexa, suggesting low traffic. see hoare-capital.com - Traffic Details from Alexa


The advert says:


Associate
Hoare Capital Markets LLP

http://www.hoare-capital.com

Description
Ground floor opportunity for hungry, motivated recent graduates who have achieved a 2:1 or above to join our teams arranging institutional transactions, expert training provided.

Salary
£20K+ p.a.​

I was wondering has anyone heard of the company? Have they any recommendations?

The people I have spoken to thus far seem really nice and make the position sound very interesting and lucrative.

It was explained that essentially its a very low basic, with decent commission which can be earned by selling over the counter products such as debt, inflation rates etc.

That sounds a reasonable deal for me.

Any thoughts?
 
That is what I am trying to decipher, or at least trying to work out what they do. ( What is an IDB?)

Their site says :

What do we do?

Hoare Capital Markets provides solution driven services as an independent intermediary at the forefront of arranging transactions in the over the counter markets. We are a provider of precise market intelligence enabling our valued customers to navigate their way in the maze of the wholesale financial markets. Our clients are assured of the anonymity and clean order execution that have the right to expect . Our ultimate aim is to add value. We are forging long-term business relationships with our clients and continue to draw on our years of experience with our existing institutional relationships. Liquidity providers in the wholesale market place continue to support us to seek a more diverse customer base.

We support our function by maintaining traditional values of trust and integrity, using cutting edge technology and by having immediate access to relevant market information through ongoing analytical research.
Click to expand...

They said that they arrange interest rate swaps etc over the counter between various clients. I think its quite sales based.

Should I be worried about the points raised in the original post regarding the lack of information available on the net etc?

Do you think this is a good step towards trading and fund management for someone with no work experience?
 
Last edited:
If they are an 'intermediary...arranging transactions' it sounds like they are an inter-dealer broker (like tullets, bgc, icap etc.). Essentially, matching buyers and sellers in the stock market.

If they are an inter-dealer broker (which it sounds like they are) it's not a bad start at all; it's the area I'm trying to get into! It's not a feeder into fund management but you'll be working with traders every day as they are your clients. Do a search on this type of work as there's been a few good threads on it on here.
 
It can be worse for career development than being on a grad scheme in a property company (where I am now)
 
What are the pros and cons of getting into over the counter dealing, when you really want to be involved in exchange trading. Is it a way in.

Am I just going be doing run of the mill business to business sales?
 
Slightly worried after reading http://www.trade2win.com/boards/trading-firm/19958-interdealer-broking.html

Not sure sucking up to traders will help me learn too much and develop.... Unless the networking would allow me to get a trainee trader role.

Couple of questions if any of you have any ideas:

1.)Would an analyst/research role be worth trying to find? I have an economics degree? Is this a reasonable option.

2.) Would starting CFA Level 1 be worthwhile?

3.) How can I strengthen my cv? I have experience in sales, project management, IT etc? Will this be worth plugging? What should be the focus? Essentially how can I make myself more appealing. My Academic record is mediocre and the financial jobs markets appear quite tight at the moment.

4.) What are the pros and cons of small/large firms?


Sorry about all these questions and sorry if the answers are already out there.

Thanks in Advance! :)
 
I can offer some advice on two of those questions

jamesr1ley said:
2.) Would starting CFA Level 1 be worthwhile?

Doing the CFA is definitely worthwile, having one of the ACA, CIMA & CFA can only be a good thing, CFA even more so in our industry.

4.) What are the pros and cons of small/large firms?

I'm a small firm fan, you get more responsibility quicker and your input matters to the whole organisation rather than being just another individual. Plus if you're any good, you can move up the ladder rally quickly.
Click to expand...


Hope that helps!
 
That's really good! Thank you,

I tend to agree about the smaller firms however wanted to verify the "usual" laws applied in financial companies.

I will begin looking into doing the CFA .
 
Has anyone heard of Hoare Capital markets? got any info on it? I cant find anything anywhere, is that a bad thing in this industry?
 
I went to the interview! First things first, it was a nice location off regents street on Hanover square. They are currently office sharing with OCM capital markets This may shed some light for some of you.

Apparently they are moving into their own office soon. The company is a brand new start up and this is the first recruitment phase. They said they have solid backing and the directors mentioned earlier in the post are well known in the city.

Apparently they are targeting niche markets which are not available for screen trades. The job will be partly about knowing the markets in these niche areas and partly being chummy with traders to close deals.

They confirmed the basic is £20k, which I feel is generous. They also confirmed that if I didn't perform I would be out. Which is expected.

The only slightly worrying thing I would say is they seemed to sell the job too me, which immediately makes me slightly suspicious. However I did meet one of the senior partners Nicholas Hoare which was nice at a first interview.

Generally very impressed.

Any thoughts? Will it be a step in the right direction? ( I might not get through btw)
 
I've stuck an application in also so thanks for the heads up. Waiting to hear back.

Did they say what sort of money was achievable?
 
Thanks GammaJammer, that is good, useful info,

I guess the main thing I keep coming back to is

Do you think this is a good step towards trading and fund management for someone with no financial work experience?

Would doing a masters in finance be better long term.

My current employer, which is non financial offers to give me time off to do a masters. The main reason I took my current job was because they offered to pay for a masters. Turns out they will pay 4k which inst huge in London at top Universities. But could study at a cheaper one ie Westminster or contribute my own cash.

if I chose to do the masters I would be stuck on this awful non financial grad scheme for the next 18 months. But would end up with a masters.

thoughts anyone?
 
Also worth noting. If your career aspirations are to make a ton of money (like me) then broking is a good option. If it's to become an investment professional and makea ton of money there's better starting points.
 
I fall clearly into the lack of knowledge category! sorry I guess I need to do more research! My understanding is below hence why they seem similar to me.

Traders are either professionals working in a financial institution or a corporation, or casual individual investors or speculators. They buy and sell financial instruments traded in the stock markets, derivatives markets and commodity markets, comprising the stock exchanges, derivatives exchanges and the commodities exchanges.
Click to expand...

Fund management is the professional management of various securities (shares, bonds etc) assets (e.g. real estate), to meet specified investment goals for the benefit of the investors. Investors may be institutions (insurance companies, pension funds, corporations etc.) or private investors (both directly via investment contracts and more commonly via collective investment schemes e.g. mutual funds)
Click to expand...

Trading is what I want to do, but I read a thread on here that made "fund management" sound the same. I guess I misunderstood.

I am not interested in money, I just enjoy competitive situations. I like pushing myself, and I like playing on my own trading account.
 
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