Deutsche Bank second round, interview 3
(one on one, regional head)
Why banking - what makes you so sure?
The people I have met, and the rewarding, deal oriented nature of the work.
Which senior MDs did you work with at UBS? (I say I have worked with senior MDs on my CV)
Gave names.
Who interviewed you in first round here at Deutsche?
Sorry, I can't remember. [Big mistake]
Would investing in tech be a good idea? Would you invest in techs?
Maybe if I really knew what I was doing.
Why is Ericsson going cheap for it's earnings?
Little perceived growth prospects?
What have you read that interests you?
Safeway, KKR.
Why are private equity firms doing so well?
Management expertise? [actually probably the low 'equity value relative to earnings' of companies at the time means that it is a field day for LBO firms]
Have UBS interviewed you?
Yes
Why would you choose Deutsche instead?
I'm not certain I would. I'm leaning that way - that's why I'm here after all, but I'm not certain [I think this question is one of the major things that lost me this job - if a regional head says I'm no good, then no way]
Where do you think the markets are going?
I think they will remain low for two years before we start to see a recovery [...oops - only a few months later, things are now looking pretty rosy]
What about western markets specifically?
Will face competition from India and tiger economies - cheap labour. Tough for future.
What should Deutsche do to remain competitive?
Cost cutting to improve margins. Focus on long term relationship building - will serve you well when the markets eventually recover.
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