Corporate Finance at Paine Webber offers an exceptional mix of a small firm’, entrepreneurial environment. With all of the resources a large firm can provide in order to successfully compete in today’s increasingly competitive environment.
Paine Webber’s capital base exceeds $710 million. Our strengths in distribution are due to Paine Webber’s excellent institutional sales and trading capabilities (over 70 institutional salespersons.
covering 2300 institutional accounts), as well as to a large and highly trained retail operation (almost 4,000 account executives in 287 locations worldwide serving over one million customers).
Paine Webber’s top ranking research further enhances the service investment banking can offer clients.
The firm’s new world headquarters has served to bring together, into one building, all of Paine Webber’s New York producing professionals.
This move has given Paine Webber the opportunity to upgrade our computer and telecommunications capabilities, streamline operations and improve communication and interaction amongst the firm’s professionals.
Paine Webber is an independent, publicly held. New York Stock Exchange listed company.
Typically Paine Webber hires 10 – 12 Summer Associates from the top business schools. Summer Associates work closely with senior bankers on a variety of transactions.
They have an opportunity to rotate through various client and product banking groups during the three month summer program.
Typically, what percentage of your permanent and summer MB hires in investment banking have had prior experience in investment banking either as summer associates or two pear analysts? Of the 20 new full time Associates who joined Paine Webber in September, 1985. 15% had two year analyst positions and 25% worked between years on Wall Street as summer associates of the remaining, almost half had exposure to the financial community via positions in equity research, commercial banking consulting, law or leveraged buyout firms.
One third of Paine Webber’s 1985 Summer Associates were Corporate Finance analysts, and another third were commercial bankers. The remainder came to the firm with experience in a variety of fields, including education, law, public accounting and general industry.
What are the outstanding personality traits of new hires in the investment banking division?
New hires to Paine Webber’s Corporate Finance generally share personality traits which characterize the rest of our investment banking team.
First, they possess exceptional ambition to succeed in a fast paced and competitive environment. They are dedicated to continuing to learn and grow, while constantly improving upon their last best performance
High levels of intelligence and creativity are prerequisites for joining Paine Webber’s Corporate Finance Division. We are characterized as innovative investment bankers.
Therefore, new hires are expected to understand and contribute to complex financial problem solving, as well as react to each new situation they encounter in a professional manner.
Because investment banking at Paine Webber is uniquely entrepreneurial, we look for those individuals who are highly energetic, who seek responsibility early in their career.
Perhaps most importantly, new hires to Paine Webber have character and integrity which distinguish them from their classmates. They have the ability to effectively market themselves and the firm to clients, as well as to interact successfully with the other members of the Division.
How has the business emphasis in the Investment banking division changed over the past three years?
Paine Webber’s Corporate Finance has recently adopted an aggressive Marketing Plan, aimed at properly positioning the Division for continued growth and profitability.
Our Marketing Plan focuses on a broad. But select group of domestic and international companies we perceive as the greatest long term users of Paine Webber’s services.
Over the past year we have dedicated resources to various product and client areas within Corporate Finance where we are committed to maintaining and strengthening Paine Webber’s presence.
Our commercial paper, high yield and LBO areas, as well as our transportation group, are examples of this growth. We expect to continue to emphasize M&A and equity financing activity.
What is the typical career path in investment banking at your firm and how much mobility is there among the various factions in Investment banking?
MBA’s enter Paine Webber’s Corporate Finance Division as a First Year Associate. Depending upon performance as an Associate, an individual is generally promoted to Vice President within three to four years.
During the initial training program, new Associates are asked to express their interests in working with a particular client or product banking group.
Every attempt is made to place an individual into the group he or she selects. The opportunity does exist to move between areas of investment banking. As well as to other departments within the firm
Do Investment bankers interface with capital markets professionals such as salespeople and traders?
Corporate Finance Associates will usually work closely with professionals across the firm on a wide variety of transactions, Interaction between Corporate Finance and our sales and trading areas is highly encouraged. Piper, Jaffray & Hop wood Inc.