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Sample cover letter for Full Time position at nomura
FY2013/14 saw the start of a bear market in Fixed Income, while Equities rebounded driven by signs of economic recovery and abundant liquidity from the large central banks. The year ushered in a period of increased market volatility driven first by the announcement by the Bank of Japan of its record quantitative easing (QE) program, followed by the Federal Reserve (Fed) indicating a possible tapering of its QE program in the latter part of the year, and exacerbated by rising geopolitical tensions. This set of events dampened investor sentiment, and, in particular, affected Rates, Emerging Markets, and Securitized Products.
In Fixed Income, the overall industry fee pool declined due to uncertain macroeconomic conditions driven by central bank policies and instability in Emerging Markets. Despite these conditions, Nomura Fixed Income remained firm driven by the strength of our client franchise and effective risk management, and delivered revenues at the same level as in FY2012/13. Among regions, Japan led revenue growth while overseas business remained steady amid market headwinds.
In Equities, revenues increased over the previous year, and we expanded our market share. Both Japan and overseas regions delivered growth, with Japan taking the lead in monetizing opportunities from Abenomics. Our client franchise strengthened further, generating nearly 20% higher client revenue over the previous year. We consolidated our execution capabilities with our subsidiary Instinet, offering our clients a seamless execution platform and associated services.
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