From intern to analyst at DCM

Having recently commenced an internship at Debt Capital Markets, I am very much inspired by those who have already completed their journeys as interns and advanced to become analysts. For my first post, I have had the opportunity to interview Magnus Westman, currently an analyst at Corporate Debt.

Tell me a bit about yourself

I am currently an analyst at Corporate Debt within Debt Capital Markets, 28 years old and from Stockholm. During my spare time I enjoy spending time with my friends and my girlfriend, watching movies is a pastime I enjoy very much in particular. Since I started working at Nordea, I have started playing squash in the afternoons with my colleagues and it is my aim to improve my serve this year.

When did you do the internship at DCM and how was it?

My internship was during the autumn of 2013. At this time, I was the only intern at Nordea DCM which meant I had a rotating program spending time at both corporate debt and leveraged finance. The advantage of this was that I had the opportunity to experience highly rated corporate credits as well as work with our PE sponsors at the leveraged side. Investment Banking was a drastic change to my previous student life, but it was a great experience to finally apply theoretical knowledge in practice. In the beginning, I spent a lot of time trying to understand how DCM works and how all the stakeholders interact with each other. Not only did I learn about banking as an intern, but one of the main takeaways was working with driven, goal oriented colleagues in a very stimulating environment. It may sound like a cliché, but every day here is different from the other which I find very exciting.

Having completed your degree, why did you come back?

After the internship I had one term left at Copenhagen Business School. During this time, I maintained a close dialogue with DCM and was encouraged to apply for a position as a full time analyst. Having worked on many cases with Corporate Debt during my time as an intern, it felt only natural to apply for their analyst position. I travelled back to Stockholm during January and February 2014 for some interviews with team members I did not know so well, and presented a 48h case to some senior members of the team. I was excited at the prospect of being an analyst having had such a good experience from DCM as an intern. It is a very dynamic environment with great people; of course I wanted to come back.

How do your tasks as an analyst differ from those as an intern?

As an intern you spend a lot of time doing research, producing slides and modelling the numbers for different cases in excel. You usually have an analyst or associate who delegates specific tasks to you and you do not perhaps always have time to get immersed in the entire project. As an analyst on the other hand, I am part of the team from start to finish and get a very thorough understanding of each case and the ability to grow within the analyst role and the level of responsibility.

You were part of the group educating us interns the first week – what tips do you have for us and those aspiring to get here?

For those who are applying for internships, I think it is important that you have a basic understanding of what DCM is and how it differs from M&A or ECM and why it appeals to you. It is also beneficial to know why you want to go into Investment Banking in general and why you would fit into this environment. For those already interns, you are here to learn and should therefore seize every opportunity to participate in different cases to understand the breadth of what we do at DCM. Make sure to ask questions to gain insight into the work process and gain as much knowledge and experience as possible to take back to your studies or into your future careers in Investment Banking.

 

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