ETF Capital Markets Specialist - EMEA
We are PIMCO, a leading global asset management firm. We manage investments and develop solutions across the full spectrum of asset classes, strategies and vehicles: fixed income, equities, commodities, asset allocation, ETFs, hedge funds and private equity. PIMCO is one of the largest investment managers, actively managing more than $1.91 trillion in assets for clients around the world. PIMCO has over 2,800 employees in 17 offices globally. PIMCO is recognized as an innovator, industry thought leader and trusted advisor to our clients.
PIMCO is one of the worldâ€™s premier fixed income investment managers with thousands of professionals around the world united in a single purpose: creating opportunities for our clients in every environment. Since 1971, we have brought innovation and expertise to our partnership with the institutions, financial advisors and millions of individual investors who entrust us with their assets. We aspire to cultivate performance and leadership through empowering our people, diversity of thought, and a commitment to an inclusive culture that engages in our global communities. Position Description:
PIMCO is looking for a London-based ETF Capital Markets Specialist to oversee and facilitate efficient trading, liquidity and growth in PIMCOâ€™s EMEA ETF business. PIMCO currently manages over $10B across 9 ETFs in EMEA (and over $39B across 25 ETFs globally) with franchises in Active Fixed Income, Index-Based Fixed Income, and Smart Beta Equities.
The EMEA Capital Markets Specialist will work closely with ETF Portfolio Managers, Product Strategy, ETF Account Management, Trade Support, and Fund Operations to oversee the trading efficiency of our ETF franchise. In addition to providing a high level of surveillance of the trading ecosystem for portfolio managers, the Specialist will work closely with the sales team to educate clients on the benefits of the ETF vehicle and the â€mechanicsâ€ of efficient trading in our suite of products.
As the premier active fixed income manager in the world, PIMCO is especially committed to growing its Fixed Income ETF business and to expanding the firmâ€™s presence in the ETF market globally. This is an opportunity to join an entrepreneurial team in the early stages of expanding PIMCOâ€™s already successful ETF business.
- Oversee management and trading of full suite of EMEA fixed income ETFs while guiding basket optimization and risk management across products. Specific tasks include:
- Rebalancing portfolios on monthly index changes and as needed (experience with index sampling and quantitative optimization a plus);
- Optimizing custom and in-kind basket construction and oversight;
- Handling cash flows, corporate actions, FX and duration hedges, where appropriate;
- Working with traders and market makers to maximize trading efficiency;
- Guide and oversee communication between Active ETF PM teams and market-makers to assist in the creation and redemption process â€" across standard, negotiated/cash, and custom in-kind baskets (develop and oversee processes and documentation around custom baskets in conjunction with global capital markets team)
- Assist in the sales process with prospects and existing clients to ensure superior client experience. Selective travel with Sales Executives to meet with key clients or prospects to discuss secondary/primary market trading of PIMCO ETFs.
- Monitor and provide effective oversight of secondary market trading quality (spreads, execution, and premium/discount analysis)
- Manage relationships with the full ETF trading ecosystem; strong prior relationships with APs and market makers a plus
- Demonstrate initiative in identifying areas of improvement across ETF processes; familiarity with industry and regulatory trends (e.g., non-transparent active ETFs) also quite important
- Minimum 3 yearsâ€™ business experience including direct ETF Capital Markets or ETF Trading experience; equity/program/derivatives trading experience also a plus
- Strong knowledge of ETF mechanics, including the factors that drive ETF pricing, creation/redemption, liquidity and spreads, premiums and discounts, tax efficiency, etc.
- Multi-asset knowledge including commodities, synthetic ETFs, derivatives (futures, swaps, etc.) and FX
- Understanding of the institutional and retail trade flow process as well as the strategies, best practices and electronic platforms each use to execute trades
- Drive technology specifications to support trading
- Strong technical skills (Excel, Bloomberg, etc.) required; experience using Python or similar would be welcome
- Solid organizational skills and ability to work across multiple functions
- Excellent interpersonal, negotiation and conflict resolution skills
- Demonstrated self-starting initiative
- This position may require 10-20% travel
PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and well-being of you and your family. Benefits vary by location but may include:
- Medical, dental, and vision coverage
- Life insurance and travel coverage
- 401(k) (defined contribution) retirement savings, retirement plan, pension contribution from your first day of employment
- Work/life programs such as flexible work arrangements, parental leave and support, employee assistance plan, commuter benefits, health club discounts, and educational/CFA certification reimbursement programs
- Community involvement opportunities with The PIMCO Foundation in each PIMCO office