Divisions
Thirteen teams sit across four divisions. Every analyst researches something real, presents it, and defends it in front of people who do this for a living. Choose a division to see what that looks like and what you will learn.
Each team specialises in a different market within its division, so your experience will depend on the team you join.
You will
- Research a company end to end and pitch it to the room.
- Build a DCF and a comparables set, and defend every assumption.
- Own a sector and follow its earnings through the year.
- Run live positions in a mock portfolio on Bloomberg or a similar trading platform.
You will learn
- Reading accounts and earnings calls.
- Valuation: DCF, multiples, comparables.
- Turning research into a long or short case.
You will
- Build and defend a relative-value idea across rates, credit, FX or commodities.
- Read a central-bank decision and work out what it does to the yield curve.
- Trade a mock FICC book on Bloomberg or a similar trading platform and explain your P&L.
You will learn
- Yield curves, carry, duration, basis and spreads.
- How inflation and policy move prices.
- The vocabulary trading desks actually use.
You will
- Form a view on a macro theme and write it up as research.
- Express that view across rates, FX, equities and commodities.
- Track the data calendar and react to releases as they land.
- Trade a mock macro book on Bloomberg or a similar trading platform — split across two teams, one per book — and explain your P&L.
- Argue your case in the annual macro debate.
You will learn
- Economic cycles, central banks and policy.
- How a data release feeds through to cross-asset trades.
- Tying geopolitics back to what markets are doing.
You will
- Learn Python for markets: pandas, scikit-learn and the rest of the stack.
- Clean real option-chain data and engineer features from it.
- Backtest a strategy honestly and find where it breaks.
- Ship the result as a dashboard you can show an employer.
You will learn
- Programming and statistics applied to markets.
- Backtesting, and the traps that fool it.
- Pricing options and benchmarking models against Black–Scholes.
Ready to apply?
No prior finance experience is required. Read how we pick people to see what we assess. Applications are reviewed on a rolling basis and a division may close early if we fill our places, so apply sooner rather than later.
Apply to the analyst programme