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Summer Programme 2006

Summer Programme 2006. Breakfast Briefing Session European Equities Cian Fitzgerald, Equity Derivatives . 1 st August 06. Agenda. Who am I? Brief overview of Equities Roles: Sales, Sales-trading, Trading My role: Equity Derivatives Sales Equity Derivatives

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Summer Programme 2006

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  1. Summer Programme 2006 Breakfast Briefing Session European Equities Cian Fitzgerald, Equity Derivatives 1st August 06

  2. Agenda • Who am I? • Brief overview of Equities • Roles: Sales, Sales-trading, Trading • My role: Equity Derivatives Sales • Equity Derivatives • Questions to the Panel

  3. Who Am I? • University of Warwick, BA Politics • Cass Business School, MSc Investment Management • Interned at London Hedge Fund, 2001 • Citigroup Equities Intern, 2002 • Started Full-Time in Equity Derivatives almost 3 years ago

  4. What are Equities? • Equities (shares) are literally a share of ownership in a company. Companies can use equities to raise cash by selling part of the company to investors. In order to make these investments attractive to investors a secondary market where investors can buy or sell these shares is essential. • The Equities division provides this secondary market.

  5. Shares: Confer ownership in a company Give rights to dividends Voting rights Share prices can move down as well as up! What Are Equities?

  6. Where does Equities fit into Citigroup? Citigroup Consumer Corporate & Investment Bank Private Client Services Investment Mgt. & Private Banking Corporate Infrastructure Cards Corporate Banking (GRB) Investment Advice Life Insurance Operations Consumer Finance Global Transaction Services Financial Planning PBG Technology Retail Banking Global Equities Brokerage Asset Management Human Resources Global Investment Banking Global Research Global Fixed Income

  7. Organisation Equity Research Equity Sales & Trading Equity Capital Markets Cash Derivative & Program Trading Convertible Bonds Sales Deriv Sales & Research Convertibles Trading Deriv Trading & Structuring Sales Trading Program Trading International

  8. Roles in Equities In order for Citigroup to deliver the products and services our clients use, we need several types of players on our team: • Sales – Ideas generation and selling • Sales-trading – Order management • Trading – Execution and principal trading

  9. Information! Information! Information! • All those screens?? • Information keeps us up to date… interpretation is what differentiates us from the market • Makes for a truly dynamic and exciting business • Every day is different!

  10. Derivatives Explained? Nothing to be afraid of! • Bit of an image problem… but times are changing! • Rapidly growing business and Client base • The products need not be baffling! • An Equity Option = The right, but not the obligation, to buy/sell an equity at a pre agreed price at some point in the future • Call = ‘right to buy’ • Put = ‘right to sell’ • Leveraged Instruments… Mitigate Risk or Increase it? • Huge scope for innovation!

  11. My Role • Equity Derivatives • Specifically : Selling these products to Institutions and Hedge Funds • Role: • Generate & Execute Client business • To make money for Citigroup

  12. Who does Equities employ? I would describe my colleagues as: • Bright • Motivated • Personable • Creative / analytical • Calculated Risk-takers • Dynamic

  13. The Panel Questions?

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