Benjamin Mahdavi

Transcript

Why did you join Barclays Wealth?

I knew I wanted to go into Wealth Management. I didn’t know enough about the firms out there, but after going through the interview process and meeting with a bunch of investment managers, managing directors, and people in HR, I quickly realized that the type of people at Barclays Wealth were the type of people I wanted to work with.

I wanted to go to a place that would enable me to be an entrepreneur, but with the resources of a big bank. Again going back to the character of the people, I wanted to go to a place where the personalities of the people were contagious and I saw that quickly during the process. And I wanted to go a place that valued team work.

Can you describe what your internship entailed?

Every morning, everyone would update themselves on the market and market-related topics, and spend a few hours doing that. Then, after that, we would go and learn about all the resources of the bank and all areas of the bank, and how wealth management is able to leverage those resources and provide services for their clients. We would go through mock interviews and mock phone calls. I was able to sit in on real client meetings, which was an experience. And I was able to work on projects for the teams that I worked for in both the New York and San Francisco offices. By the end of the program, I was able to walk away with an understanding of what this life would be like, what this career would be like, and the program does a really good job of painting a picture of what this job would be like. And that’s the reason why I decided to come back.

What support and training did you receive?

On day one, I was given a peer mentor and a senior mentor. The peer mentor was someone who was around my age, who had been in the business for a few years and told me what to expect from the job in the beginning – the ups and downs, the ins and outs of the job.

I had a senior mentor who I became close friends with, and who allowed me to sit in on projects with him, to participate in projects, and to be very involved in some client interactions. He just really showed me how the business works. When I was with my senior mentor in New York, I had a project that was a little over my head and he just said, “make a phone call to the bond desk and see if you can get the answer”. So I made one phone call and it rang maybe twice and I got the answer in a few seconds. That was a real life, hands-on example of how valuable the resources are and how quickly you can gain access to them.

Typically, what areas of the business did you work with?

I would say we worked with a lot of areas of the business and worked a lot with the trust and estate attorneys in both New York and San Francisco, cash management, and investment bankers. I also worked closely with the portfolio managers that were in the office to find the right asset allocation for certain clients.

What qualities do you need to be a successful Summer Sales Associate?

A passion for the markets, a good financial acumen and an outgoing personality. You need to be empathetic to clients – this really is a real life, face-to-face interaction with people who have goals and needs, and you want to help them accomplish them. So if you have those traits then I think you could be successful as a Summer Sales Associate and also as a Full-Time Sales Associate.

People who are doing well in this job really enjoy what they’re doing, but they also understand the work that needs to go into it. So I understand there’s going to be a hurdle in the first few years that I have to get over. But I’ve lived my life by trying to challenge myself and create goals.

What did you learn during your internship?

I learned more about the markets than I had known before. I learned that I wanted to be in Wealth Management and that I wanted to work for Barclays Wealth. What did I want to do for a living? Where did I want to work? Those were all questions I had going in.  All these questions were answered quickly during the internship and that’s why I’m here today.

Why come to Barclays Wealth for your summer?

Barclays has 300 years of experience and a great track record, but they don’t have a big imprint in the US, so the opportunity to work for Barclays in the United States is an opportunity that’s not out there anywhere else.

What advice do you have for people thinking of interning at Barclays Wealth?

During the internship there will be times during the day when you can do what you want. You can work more on a project or read more about the markets, but a lot of people around the bank suggested that we reach out to people in other divisions and other areas of the bank. So I took that to heart and walked all over the bank. I met a lot of different people from the trading floor to the investment bankers and the portfolio managers. I talked with the trust and estate attorneys. By the end of it, I had a lot of names, I’d had some great conversations, and I’d learned more about the resources than I’d known before – but you have to be proactive to do that.

So the advice I would have would be for people who are interested in going into this job, or going into the Summer Sales Associate program, is to really take it upon themselves to reach out to people in the bank to learn as much about the people and the resources as they can, in the amount of time they have. That way you can walk away from the summer program with an idea of what to expect if you’re fortunate enough to come back.

Why did you decide to return to Barclays Wealth full-time?

I decided to return to Barclays Wealth full-time for the same reasons why I decided to intern at Barclays Wealth. All the reasons why I decided to intern were reaffirmed over the summer – the ability to be an entrepreneur, the opportunity to work on a team and the character of the people that are in the office. People from top to bottom genuinely enjoy what they’re doing on a daily basis. It’s nice to be in an office with people that you can call your friends, and after the summer I made a lot of friends. I’m still close to my peer mentor and my senior mentor, and I’m fortunate enough to be back.

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