Asset and Wealth Management Initial Training Programme Edinburgh 2016 London Edinburgh New York Dubai Singapore www.capitalcitytraining.com 1
Introduction Why this programme? In Edinburgh and Glasgow, Capital City has a number of clients all involved in the Fund and Wealth Management industry either directly or in asset servicing. When these clients take on new hires into fasttrack development paths, there is now almost an expectation that a relevant and targeted Initial Training Programme will be offered. It is often on the radar when top candidates are looking at potential employers. For many firms this simply is not economical due to the lower number of new hires they take on. This semiopen programme offers almost all the benefits of those bespoke programmes but on a much more flexible basis. The full 14-day programme includes: Optional 2-day Bootcamp on Financial Intelligence for those from a non-finance background 9 days of technical training in markets, products and client profiling 2 days of soft-skills training to equip delegates with a key interpersonal skillset 1 full day of case study preparation and presentation, tailored around YOUR FIRM s investment products and philosophy A pitch to a panel comprising current investment professionals You will note that, although this is a programme open to a number of clients, the end result will be the delegates being able to pitch a bespoke investment solution based on their own firm s offerings. That is why this programme is different from other public offerings. About Capital City Training Capital City Training is a full-service financial training company focused on the banking, asset /wealth management and broader financial services and accounting industries. In early 2013, Capital City Training acquired MSConsultants, a leading brand in tailored asset and fund management training and consultancy. We provide engaging, challenging, high quality classroom training across the spectrum of hard technical skills needed in asset and wealth management, as well as commercial and investment banking. Capital City also provides elearning and distance learning packages for core skills such as financial maths, discounted cash flow and financial Excel. We combine training expertise and highly credible practical experience together in the classroom to give relevant high impact courses. In 2012, we expanded our range of programmes to cover management development and inter-personal skills training. Technical Financial Training elearning and Distance Learning Management Development 2 www.capitalcitytraining.com
WHAT WE DO AND HOW WE DO IT We provide engaging, challenging, high quality classroom training across the spectrum of hard technical skills needed in asset and wealth management, as well as commercial and investment banking. Capital City also provides elearning and distance learning packages for core skills such as financial maths, discounted cash flow and financial Excel. We combine training expertise and highly credible practical experience together in the classroom to give relevant high impact courses. In 2012, we expanded our range of programmes to cover management development and inter-personal skills training. Capital s style is guided by some basic principles of adult learning, namely: Adults are task focused, they learn by doing; Adults are social, they engage with tasks and assimilate information better when working in a group; Adults are competitive. Our blended approach from experienced ex-practitioners ensures that our programmes deliver relevant technical content in the relevant context. In all areas of our training we stimulate and engage delegates through involving them actively in: Contemporary, real-world case studies Group exercises Excel modelling, where relevant Management simulations Role play Our aim in all areas is to present delegates with the real world problems and challenges that they will face in their jobs and to equip them with practical skills and a commercial perspective from which to make judgements. We are flexible in approach and our emphasis is on how we can maximise value added through our training. Capital Integrated Product Pre-course testing elearning and pre-reading (to establish basic knowledge) Tailored classroom programme Post-course testing and appraisal, on-line case study library www.capitalcitytraining.com 3
WHY CAPITAL CITY Capital s training faculty have over eighty years of experience training at many of the City s leading banks and asset managers, including variously BlackRock, Schroders, Julius Baer, Aberdeen Asset Management, Rothschild; Citigroup; Deutsche Bank, Barclays, HSBC. Our programme feedback is always extremely positive: Probably the best internally organised (sic) course as content was very relevant, well explained. and case- study driven. and Best course attended with best presenters. are two typical pieces of feedback. PRODUCT MANUALS Capital City publishes a number of technical manuals covering credit products; financial modelling; accounting and analysis; and corporate valuation. These manuals are available in book format from Amazon and form the core of our course materials. They are also now available in ebook format for the Kindle/iPad. Our Derivatives and Credit products manuals will be published later this year. CAPITAL-E.CO.UK OUR ELEARNING PLATFORM GRADUATE PRE-TRAINING Capital City has also developed an elearning platform allowing delegates to undertake distance learning and self-study packages as a complement and preparation for classroom sessions. The core package comprises Financial Maths, discounted cash flow and financial Excel skills. Using a combination of video lectures and demonstrations alongside live Excel implementation, the package allows delegates to work at their own pace to build up some core Excel and financial maths competency through a structured programme of exercises and debriefings. The elearning package is designed specifically for the needs of graduates entering banks from non-related degrees and allows them to develop some core skills and knowledge to help them successfully engage with a classroom programme from day one. 4 www.capitalcitytraining.com
Programme structure and approach The programme will be based around the client investment cycle, with the Bank s business input at each stage of design and delivery where possible e.g. getting client directors to demonstrate how the RFP and pitch process operates. To support this cycle of business, a solid foundation in product and market knowledge will comprise the first phase of the course. Our philosophy surrounding the course structure is that a solid foundation of technical understanding, together with early exposure to the Bank s investment and selling environment (from the business), will give graduates the confidence they understand the Bank s Global Asset Management business by the time they reach their desk. Macro-economic environment and FX markets Measuring financial health Equity markets, valuation and investment Fixed income markets & products Derivative products Alternative investments 1. The Client Mandate 4. Performance and attribution analysis Benchmarking Measures of return Measures of risk and risk adjusted returns (e.g. Sharpe, information, Alpha) Attribution analysis equity and fixed income The types of clients and their objectives both individual and institutional Client constraints and considerations e.g. liquidity, legal, time horizon, tax, unique e.g. DB pension aspects and LDI Clients attitude to risk Behavioural finance and how it can impact clients 3. Portfolio construction / fund objectives Analysis of existing portfolios Active vs. index, alpha and beta The Bank s philosophy The emergence of ETFs and how they work Use of derivatives Alpha / beta separation 2. Asset Allocation Linking to client objectives and constraints Market cycles and asset rotation Portfolio theory and diversification Equity sector analysis and rotation in bull/bear phases www.capitalcitytraining.com 5
MORNING MEETING An important part of the course is getting delegates to take an active interest in the markets and financial news and helping them to understand the significance of these for their clients and the business they do with the Bank. Delegates will be required to read the FT each morning and each day will begin at 8:45 with a presentation by a group of the class members reviewing the most important news of the day and explaining its significance to the Bank and the Global Asset Management clients. FANTASY ASSET ALLOCATION To encourage immersion in the financial markets and global economics, the delegates will be put into teams for the duration of the programme and will have to make allocations of a notional 10m into various asset classes bonds, equities, commodities, local, global, emerging markets and currencies. To give full flexibility and market opportunity, they will be able to take short positions. The results will be updated on a daily basis. INTERPERSONAL / SELLING SKILLS (1½ DAYS) To bring the delegates technical skills even further into the real world, we have included 2 days of Interpersonal / Selling skills followed by a Final Case (below). The aim of these elements is to optimise the sustainable effectiveness of the hard skills financial training by providing a range of skills and techniques that will lead to more successful negotiation and improved sales results. Specifically we will: 1. Build confidence and enhance presentation techniques 2. Improve the ability to build effective relationships 3. Enhance the probability of successful negotiation through motivational selling 4. Increase the delegates power to influence THE FINAL CASE - CLIENT PITCH The programme will culminate in a pitch to an investment with specific needs, wants and risk tolerance. The pitch will be made in teams to a panel asset management professionals. The aim of this pitch is threefold: to focus delegates throughout on Technical knowledge Client focus Their own firm s investment philosophy and unique offerings as well as a chance to put their selling skills into practise. 6 www.capitalcitytraining.com
Day-by-Day Programme Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Financial Intelligence 1 Importance of financial statements and analysis B/S, Cash Flow, Income Statement Financial Intelligence 2 Key financial metrics Controversial accounting policies impact on clients, analysis and valuation Asset classes, Macro econ and FX markets High level asset class review Macro fundamentals and impact on asset values FX markets and products Equity Markets and Products Equity features Equity market overview Time value and valuation techniques Investing in equity Core Fixed Income Derivatives 1 Derivatives 2 FI features and market segments and recent trends / performance The importance of government bonds in clients core portfolios Valuation Risk credit and duration Indexed Linked Bonds / TIPS TEST 1 What are derivatives? Why do managers use them? Practical portfolio hedging, EPM and leverage Features, risks and process Intro to options Using options to earn income and portfolio insurance Convertibles Rates - FRA and IRS Role of swaps in LDI and duration management Cash products Day 8 Day 9 Day 10 Day 11 Day 12 Day 13 Day 14 Lifecycle of a Trade & Commodities Lifecycle of a trade: The process, parties, roles and risks when the operations hold it together Alternatives Commodities and their position in an efficient portfolio The post Credit- Crunch gold rush The Alternatives Portfolio construction and returns The alternative universe Hedge Fund tools and strategies Private Equity Real Estate The Bank s Offering Portfolio theory and indexing ETFs Indexing and active in practise The Bank s products Using derivatives and Alpha / Beta separation Performance Understanding the clients and how they think Performance measurement and attribution analysis for Equity and FI TEST 2 Clients their needs and objectives Interpersonal / Selling Skills: Presentation Skills The Bank Presentation The Bank experience Can you sell the Bank s value proposition? Behavioural finance and the resistance it causes Building effective relationships Motivational selling Influencing skills Individual presentations Case Day Preparation and final pitch to institutional client. a.m. for preparation p.m. for presentation Delegates will be briefed on the client scenario in advance and will pitch to The Bank s client directors www.capitalcitytraining.com 7
Pricing Early bird price* Regular price 1-2 delegates 4,999 + VAT 5,499 + VAT 3-5 delegates 4,499 + VAT 4,999 + VAT 6+ delegates 3,999 + VAT 4,499 + VAT * booking pre 28th Feb 2016 Note prices are per delegate. Dates and location 19 September - 6 October 2016 Central Edinburgh 8 www.capitalcitytraining.com