Capital markets

You spend a summer helping bankers who advise companies on deals and raise the money those companies need. The seat is a summer analyst in Banking at Wells Fargo in London, a 10 week placement for students in their penultimate year. Banking here covers two things. Investment Banking advises companies on mergers and acquisitions, which is buying and selling companies, and on raising debt and equity capital, which means borrowing money or selling shares. Corporate Banking lends to companies and runs their everyday banking. You join one of these teams for the summer.

The teams sit in a group called Banking and Capital Markets, which is split into coverage and product teams. Coverage teams own the relationship with a set of clients. Corporate Banking covers companies and Financial Institutions covers banks and insurers. Product teams each run one kind of work. Fund Finance lends to investment funds, Debt Capital Markets and Advisory arranges bonds and loans, and M&A runs the buying and selling of companies. Coverage brings the client in and the product team builds the deal.