Delegation is an essential and tremendous part of the interdealer broker market. The main ingredient to building this business is having the top employees delegate power to quickly and efficiently expand. Planning also comes into play in the long scheme of efficiently delegating power in the interdealer market. In the next few paragraphs I will explain the interdealer broker market, the way in which the company uses delegation, and how delegation could be used more effectively in planning.
The interdealer broker market is made up of all the major banks in the world that mainly trade off the back of hedge funds and corporate orders. We operate as the middleman in matching up major banks. The majority of the business I built on relationships between the broker and the client. Successful desks are composed of knowledgeable brokers who are highly experienced, well managed and have stellar client relationships. You could be the most efficient broker there is but if you do not have excellent client relationships you will not succeed. Both factors together will guarantee true success in this business.
The company utilizes delegation in many different ways. For example, if delegation is properly executed it will help to expand the business significantly. When I first started working, the company was in its early stages of building and depended greatly on its managers properly delegating responsibilities. The top managers would start up various trading desk across the company, they would work on them until they were fully developed and turning a profit. Once the desks are developed the managers delegate power to another employee on the desk to run and over see day–to-day operations. This would allow the manager to start up a new desk and help expand the company. If done properly it will increase revenue in the long run for the company.
There are times in the past in which managers have slacked off which causes a domino effect. Employees can observe that a... [continues]
The interdealer broker market is made up of all the major banks in the world that mainly trade off the back of hedge funds and corporate orders. We operate as the middleman in matching up major banks. The majority of the business I built on relationships between the broker and the client. Successful desks are composed of knowledgeable brokers who are highly experienced, well managed and have stellar client relationships. You could be the most efficient broker there is but if you do not have excellent client relationships you will not succeed. Both factors together will guarantee true success in this business.
The company utilizes delegation in many different ways. For example, if delegation is properly executed it will help to expand the business significantly. When I first started working, the company was in its early stages of building and depended greatly on its managers properly delegating responsibilities. The top managers would start up various trading desk across the company, they would work on them until they were fully developed and turning a profit. Once the desks are developed the managers delegate power to another employee on the desk to run and over see day–to-day operations. This would allow the manager to start up a new desk and help expand the company. If done properly it will increase revenue in the long run for the company.
There are times in the past in which managers have slacked off which causes a domino effect. Employees can observe that a... [continues]
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