Welcome to GYone’s new careers series. To help our readers find out more about the wide variety of jobs available in Guernsey and what different roles are really like, each issue we interview someone with a different career. First up is CARL PUGH, securities dealer at Butterfield Bank (Guernsey) Limited
I had already been working for Butterfield for a year before the role of securities dealer became available and the thought of working in a fast-paced and ever-changing environment certainly enthralled me. I also liked the fact I would get more screens at my desk.
I did not have any specific financial qualifications when I started so I had a lot to learn on the job. Shortly after starting in the investment department, however, I began studying for the Level 4 Investment Advice Diploma; the qualification level compliant with the GFAS and the first step on the CISI’s wealth management pathway.
It gave me a really good grounding in some of the basics, such as the different types of investment products, portfolio management theories and of course rules and regulations. Thereafter, I undertook the Level 6 Private Client Investment Advice Module, recognised by the FCA and RDR-compliant, which built on these theories and how I might apply them to real-life scenarios.
My main responsibility is placing trades on behalf of the bank’s various clients. I think this is one of the most enjoyable aspects of the role since the bank’s variety of customers means that no day is ever the same.
One day you could be placing an order to sell gold bullion for a high net worth individual, the next trading a newly listed hedge fund for a trust company, as well as your more run-of-the-mill blue chip equity trades.
The main benefit I have personally derived is being afforded the time to develop in the role.
Retaining high standards in your own area of responsibility remains a pre-requisite, but there is also an eye on long-term progression and I have always been encouraged to take on other tasks and challenges outside of my day-to-day role – I was recently seconded to the Treasury department, for example – to help further my understanding of the workings of the bank.
I would say that it involves a fair amount of both. Unsurprisingly, the role involves working with numbers so a keen eye for detail is important, especially when scrutinising the minutiae of a company’s filings.
On the other hand a flair for the creative shouldn’t be overlooked, for example my history degree has been unexpectedly applicable at times when I have had to structure a compelling argument for a particular investment thesis.
There are several paths one could take from the role but my preferred next step for my own career is to become an investment manager, a route, in fact, that I have quite recently embarked upon.
I am looking forward to taking all that I have learned from my exams, from working on the trading desk and from my time around the bank into managing discretionary clients’ investment portfolios.
I try at all times to keep a neat and tidy desk, which I believe makes for neat and tidy work.
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