Week 1 – Deep dives and learnings from Macro Research and FX
We spent our first week at the Macro Research desk, where we received our first weekly case of the internship. The assignment was to provide an overview of the financial policy in Germany, France and the UK, which was very interesting, especially considering the elections in France and the UK. We got to really dive deep into the subject, and having the opportunity to discuss it with the Macro Research team was very valuable.
On Thursday, we sat with the FX team during the Riksbanken announcement, and although the outcome was expected and quite undramatic, then watching the market’s reactions and movements of the news was interesting. We also had time to squeeze in a quick ‘after work’ in between making the last preparations for our case presentation.
At the end of our first week, we then presented our Macro Research case, and received feedback on both the content of our presentation and our presentation skills which will be useful for our upcoming cases, and in general going forward. To conclude, our first week was extremely educational meanwhile enjoyable. We’ve had a lot of interesting lunches and meetings throughout the whole week with the Macro Research team and other experts across Markets.
Week 2 – Gaining LC&I insight and pitching FX hedging strategy
We spent our second week with the FX team, and we were excited to learn about their award winning automated FX solution, AutoFX, as well as hear about how they hedge FX risk using several different financial derivatives, such as FX swaps, forwards and options. Seeing how far they have come in terms of automation was an eye-opener for all three of us.
We also got acquainted with other teams within the LC&I organisation with introductions to units like Debt Capital Market (DCM) in Investment Banking. Later that day, we had lunch with Erik Lindblad (Country Lead of Markets Sweden, and Head of FX/Derivatives Sales & Research Sweden), and Staffan Hentze (Head of Equities), who were happy to share their knowledge and experiences, and gave us some very useful advice and Nordea insights.