Supriya Bajoria, Credit Sales, Scotiabank, tells Traders Magazine about the skill sets needed on the buy-side credit trading desk and her transition from buy-side trading to sales.
Please tell us about your current role. What excites you the most in your daily job?
I recently joined Scotiabank as a salesperson on their Investment Grade Credit Desk where I am covering a broad spectrum of clients including pension/insurance, total return funds, and hedge funds. Having been a credit trader for the last 15+ years on the buy- and sell-side, I am very excited to bring my trading skillset and buy-side experience to sales. While I am still new to the role, I think the most exciting aspect of the job is to learn about the varied investment objectives of clients and how to best help them across different strategies in fulfilling those objectives.
How did you get started in financial services?
I interned in a cross-division bank group while pursuing a dual concentration in finance and technology at the University of Michigan, and quickly realized I wanted something more dynamic and market oriented. I proactively reached out to Michigan alumni at the bank and was able to shadow them for a couple of weeks which affirmed my interest in the markets. I took more relevant classes my senior year and was recruited in a full-time sales and trading program.
How broad are the skill sets needed on the buy-side credit trading desk today, relative to say 10 years ago?
Compared to 10 years ago- technology, electronic protocols and data integration have become critical to a trader’s workflow today. Embracing change and technology is important in today’s competitive landscape. These tools allow traders to optimize their workflows, minimize cost of execution, and access better liquidity. The other skillset that has become crucial is to be able to aggregate and process vast amounts of data available in the market for best execution and idea generation. In addition to maintaining close relationships with sell-side, it has become equally important for buy side traders to maintain close relationships with technology and data vendors and collaborate with them to continuously advance their workflow.
We’ve learned that you’ve transitioned from trading on the buy-side to sales at Scotiabank. Can you tell us more? Why Scotia?
With the increasing use of technology and electronic protocols in credit trading, I think the role of a credit salesperson is evolving rapidly and I wanted to transition my trading experience into a sales role leading with idea generation and adding value to my clients’ portfolios leveraging my knowledge and experience on the buy-side.
Joining Scotiabank was appealing for many reasons. First, they gave me the opportunity to move into sales which was a goal of mine. Second, the credit platform is strong and most importantly growing. Scotia has a long-standing strength in Power, Utilities, Energy, REITs and Canadian Banks and have continued to expand into several other sectors. They’ve hired teams of bankers, traders, and research to support the credit expansion and made tremendous strides on the league tables as well as secondary trading, and I am thrilled to be a part of this growing platform. In addition to credit, I am also excited about the opportunity to cross-sell at the bank with Scotia’s recent expansion in Structured Credit and CLO groups.
Who have been the main influences in your career?
I draw my greatest inspiration from my mother. She is a self-taught jewelry designer in India who early on taught me the value of hard-work and perseverance. She made the difficult and very bold decision to send me to America for college. This was not common at the time, especially coming from the small city of Jaipur where I grew up. I am grateful for my mother’s tenacity and forward thinking which has given me the tools to navigate the challenging journey of becoming a first-generation immigrant to the US. It was a great honor that she could come to the U.S. and witness me win the Excellence in Fixed Income trading award at the Women in Finance ceremony last year. I have built a solid network of professional relationships and mentors who continuously guide me and whose professional milestones are an inspiration for me.
How does Scotiabank support women and DE&I in general?
Scotiabank was recognized as 1 of the 4 finalists by 100 Women in Finance for its Industry DE&I award. For the 5th year in a row, Scotiabank also ranked on the Bloomberg Gender Equality Index which allows investors to assess how companies around the world are investing in women at the workplace. In addition to the awards, just in my two months here – I have attended several Women and Diversity, Equity & Inclusion events and received a very warm welcome as a minority woman myself.
