An Introduction (and Survival Guide) to Wholesale Global Banking, Trading Desks and the World Capital Markets

About the Book

The book is about big banks, stockbrokers and the capital markets of the world. It covers the 'why', 'who', 'where' and 'how' questions. This should allow you to understand the jargon which global banks and stockbrokers function. I concentrate on the monetary aspects - borrowing, lending, buying and selling securities and derivatives.

As to who should read it: well anyone wanting to get up to speed with the subject. It assumes no prior knowledge. It is written in simple language with many diagrams to explain what is happening. Jargon is broken down into plain English which is regularly defined is section Glossaries. No formulae are used beyond simple arithmetic since I believe they can intimidate some readers. I have tried to capture something of the motivation, personality, mindset and humor of the players involved with some personal anecdotes. Whether you are thinking of joining a bank, needing background to extend your job prospects or in an academic setting the book should help get you over that initial block. The book covers basic trading principles, market practices, products and support functions. The last section covers IT, Projects and data modeling.

The book reflects my working life in senior management positions mainly in and around Trading Desks. In a varied career I have been an investment manager, bond salesman, a trader, invented tax efficient financial products, a computer programmer and latterly a management consultant. Many of these roles have had training as an important secondary aspect.

About the Author

William Rollet is the pen-name of a Brit who has spent most of his working life as a senior manager in or around the trading rooms of large banks and international stockbrokers. In a varied career I have been an investment manager, bond salesman, a trader and inventor of specialist capital market products. Additionally I have worked as a money broker, a commercial banker, wrote some of the first serious yield analysis software of the PC era, been a computer programmer and for last few years - a management consultant to large banks advising on management accountancy issues and new trading systems. Training new personnel was usually an integral but secondary part of the job. The range of jobs I have done is wide. This is not because I am prone to getting sacked, but because I have been around for a very long time; a relic of a time when bank managers thought that appointing managers from outside of the immediate job specification would bring better and wider overall experience to the task in hand.

Central to my career has been the big global banks in one way or another. Although I have always been based in London the job frequently called for extensive long-distance commuting. This has meant I am very familiar with US, UK and European practice. I hope this will add depth to the book's text and help readers understand that it does not need to be an intimidating subject.