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The Graduates of 2015

30 January 2015 | people

Here's what our previous graduates are saying about their front-line experience in research, investment banking, trading and sales.

Our graduate recruitment programme for this year is now open.

(Left-to-right below) Robert Johnson, Jamil Miah, Ciaran Donnelly and Carole Madjo.

Gards Photo 2015

What was the recruitment process like?

“It was clear to me from the outset that Liberum has a very clear view of what it is looking for. This is a product of the flat organisational structure of the firm. I felt it has a very clear understanding of what kind of candidates are going to be successful in the company, which is reflected in how many graduates have gone on to be an important part of the company.” - Ciaran

“I really enjoyed the recruitment process because it took place in a positive and non-stressful environment which made me feel at ease during the interviews.” – Carole

Describe the business

“At Liberum, there is a great togetherness about the firm. I believe this comes from being a 100% employee owned business. There is a personal feel to it and you can see it in how much people care about the success of the firm.” – Ciaran

“The work is challenging and the standards are extremely high. I feel like I am learning to work to a high standard and great level of attention to detail.” – Robert

“People are also really nice to each other and most importantly know each other. It is really pleasant to work in a place where everybody knows your name.” - Carole 

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Does the rotation experience work?

“Rotating into four departments really gave me a better understanding of the equity market. Graduates gain a lot of experience, more than what would be achievable in a larger company, so you can discover which position suits us the most.” - Carole

“Other banks’ graduates get a textbook awareness of these things through the CFA curriculum. At Liberum, graduates learn the job and its pressures for themselves. And also have the pleasure of the CFA exams!” - Robert

“Another great thing is how it supports you when taking your exams, either CISI or CFA. You are given a huge amount of support, from study leave to supporting materials, giving you the best chance to gain these qualifications.” - Ciaran

What are you currently doing?

“I’m in Investment Banking which has been fantastic. You are supporting multiple projects, giving you exposure to exciting projects from day one. Most recently, I have worked on a project advising a client on their options on how to raise capital in order to make a possible acquisition.” – Ciaran

“I’m assisting in the preparation of a research report on the housebuilding sector, working with financial models and using the data to present emerging themes and trends in the industry. With a General Election approaching, it also involves looking at political research and polling data to present.” - Robert

“I’m currently supporting with a key publication for the Small & Mid-Cap Sales team, which involves publishing our thoughts on select emerging companies. This involves meeting with a diverse range of company management to understand their business model and key themes affecting their industry sector, whilst identifying unique investment ideas for the companies.” – Jamil

“I am currently working in the Trading desk. My current tasks include updating and optimizing spreadsheets for the Small & Mid Cap trading team and calling clients to update them on the company’s recent achievements.” - Carole

And your best bits so far?

“The one that really stands out was the day the potential merger between Glencore and Rio Tinto broke. I was working in the mining research team and within seconds everything was turned up a notch. The phones were buzzing, everyone wanted to know what was going on. It just typifies for me what working in this industry is about, everything can change in a second and you have to be ready for anything because everything can change on any given day.” – Ciaran

“Working on an IPO in Investment Banking. It was really interesting to see the process from end to end and learn the different pressures and stresses along the way – most of which are different to what a textbook will teach you.” - Robert

“When I worked on a value-add piece of research on the currently topical Liquefied Natural Gas (LNG) market whilst working with the Oil & Gas team. It supported the Analysts on the team to understand the future growth of the LNG market given the volatile macroeconomic conditions.” - Jamil

“I was the first graduate to host the Sales morning meeting - a really good experience.” - Carole 

Where are they now?

Ciaran joined the Media Equity Research team permanently.

Jamil and Robert both joined the Investment Banking division permanently.

Carole joined the Consumer Equity Research team, and subsequently has pursued opportunities elsewhere.

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Liberum advises on Matchtech’s £58m recommended cash, share offer for Networkers International

28 January 2015 | Mentions of Liberum

Matchtech Group plc (Ticker: MTEC) announced today a £58m recommended cash and share offer for Networkers International plc (Ticker: NWKI).

Liberum is acting as Rule 3 Independent Adviser to Networkers International and is now its nominated adviser, or Nomad. 

Both companies operate in the professional staffing sector and the combined Group will be a leading specialist recruiter in engineering and technology markets in the UK and internationally. 

The offer of 34p in cash and 0.63256 Matchtech shares for each Networkers International share represents an implied premium of 22.5% to last night’s close of 55p. 

Networkers website: http://www.networkersplc.com/ 

Matchtech website: http://www.matchtechgroupplc.com/investors

The Liberum Investment Banking Team 

Tom Fyson

Steve Pearce

Robert Morton

Josh Hughes

Natalia Lipecka

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Press Enquiries: Redleaf Polhill

Emma Kane 
George Parrett
Karl Wiseman 

+44 (0)20 7382 4747

Summit Germany names Liberum joint corporate broker

16 January 2015 | Corporate Brokerships

German commercial real estate company Summit Germany Ltd (Ticker SMTG LN) has appointed Liberum as joint corporate broker, our 66th brokership. 

The AIM-listed company with a market capitalisation of €350m manages a diversified €600m German commercial property portfolio. Its 50-strong team seeks to identify value-added investment opportunities. 

Below: Rahmhof. Schillestrasse 5, Frankfurt

 Sf191 Rahmhof Shillestrasse 5 Frankfurt 2

It has been in the German commercial property market since 2004 and its investments are focused on multi-let commercial office, retail and logistics properties situated mainly in the country’s financial centres. It generates its income letting to commercial, governmental/public sector and industrial tenants. 

Summit Germany website: http://www.summitgermany.com/

The Liberum Team

Investment Banking: Chris Bowman and Jill Li

Sales: James Bouverat and Anastasia Mikhailova

Research: Rob Jones

Corporate Access: Regan Connor

Follow or Contact Liberum

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Press Enquiries: Redleaf Polhill

Emma Kane 
George Parrett
Karl Wiseman 

+44 (0)20 7382 4747

Liberum named Joint Corporate Broker to 4imprint Group plc

12 January 2015 | Corporate Brokerships

4imprint (Ticker: FOUR LN), a £225m-market capitalised direct marketer of promotional products in the USA, Canada, the UK and Ireland, has named Liberum as Joint Corporate Broker.

It is the No.1 direct marketer in the North American promotional products market, with its direct marketing business headquartered in Oshkosh, Wisconsin, USA and with 96% of its revenue generated in the USA and Canada. The business serves UK and Irish customers out of its base in Manchester, England.

The business supplies an extensive range of customised promotional products to individual customers in a variety of businesses and organisations, using targeted direct mailing and a strong internet presence.

> 4imprint website

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Head of Content: Adam Smallman @LiberumSmallman

Press Enquiries: Redleaf Polhill

Emma Kane 
George Parrett
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Shortlisted in UK Stock Market Awards

09 January 2015 | Mentions of Liberum

(LONDON) THE initial public offering of GAME Digital plc in 2014, on which UK independent investment bank Liberum acted as joint bookrunner, is among the nominations for the 2015 UK Stock Market Awards. 

Liberum is broker to four companies on the shortlist: Workspace, Ted Baker, Manx Telecom and GAME Digital. 

It is also nominated as Best Adviser – Corporate Sponsors.

The nominations are made by the public and “is testament to the huge value that UK PLC brings to Britain”, according to Awards co-sponsor KPMG. 

Judges meet in February to chose the winners in 23 categories and the Awards take place on March 26 in London.

http://www.stockmarketawards.com/

Follow or Contact Liberum

Twitter: @LiberumToday

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Head of Content: Adam Smallman @LiberumSmallman

Press Enquiries: Redleaf Polhill

Emma Kane 
George Parrett
Karl Wiseman 

+44 (0)20 7382 4747

UK energy policy: Atherton's 10 thoughts after 10 years

28 November 2014 | Mentions of Liberum

Liberum Utilities Analyst Peter Atherton will speak Monday at The Spectator Energy Forum where political leaders, investors, analysts and advisors involved in energy policy and business will meet to explore how to fix Britain’s energy market. Those wishing to attend can click on the image below to book tickets.

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Here's Peter's overview in advance of the event.

IN 2003 the EU, including the UK, decided to lead the world in decarbonising its economy in an attempt to combat climate change. To achieve this, the UK has adopted a radical energy policy that seeks to move from a power system that is today overwhelmingly based on fossil fuels, with some nuclear and a small amount of renewables, to one overwhelmingly based on renewables and nuclear power. 

What’s more this transformation is to be achieved by the year 2030 – a breakneck pace for an industry such as power generation.
 
The UK’s climate change-focused energy policy has now been in place for over a decade and there are 10 conclusions that can be drawn from the experience.

  1. UK/EU policy makers grossly underestimated the engineering, financial, and economic challenges posed by the drive to de-carbonise the electricity sector by 2030.
  2. Policy makers have failed to take into account the huge changes in the economic, commodity and financial environments since 2003 and adjust policy accordingly.
  3. The policy framework does not, and cannot, take proper account of security of supply and energy affordability.
  4. The gigantic £350bn investment needed by 2030 cannot be financed at a cost that the public is willing to bear.
  5. The policy requires the building of fundamentally uneconomic assets and therefore the government has had to intervene in the market in ever-more aggressive ways. Intervention has begotten intervention.
  6. It is now impossible for any power station to be built unless government underwrites the economics.
  7. The economic case for being in the vanguard of decarbonisation looks very poor and was based on two false premises, namely a) that fossil fuels prices would rise to unaffordable levels, b) being first mover would result in considerable industrial benefits. Both of these assertions have been found to be wrong so far.
  8. The worst effects of the policy lie in the future.
  9. A client state of rent seekers has been created by the over-€50bn per annum of largely renewable subsidy stream across the EU. The lobbying power of the rent seekers greatly outweighs that of the consumer, meaning that necessary policy corrections are not made.
  10. To deal with the affordability issue, either the policy needs to be restructured to lower costs, or the British public need to be convinced this is a price worth paying."

 © Liberum Capital Limited, 2014

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Press Enquiries: Redleaf Polhill

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