PRIVATE BANKING COMPETITION

COMPETITION CLOSED

PROJECT FIREFLY offers you the opportunity to travel to Switzerland and be part of the prestigious "White Turf" event in St. Moritz, Switzerland on February 3rd, 2013. Visit Zurich, the heart of Swiss Finance, and meet the CEO of Private Banking at Credit Suisse, network and showcase your potential, gain real insights into the Private Banking world and be part of it for four days, sponsored by Credit Suisse. The competition is open to all university students and recent graduates to share their insights and opinions. Project Firefly will publish your essay if it receives a positive review by our distinguished Academic Review Board.

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SUBMISSION START: 8TH OCT 2012

DEADLINE FOR SUBISSIONS: COMPETITION CLOSED

RESULTS ANNOUNCEMENT: 10TH DEC 2012

FACILITATION EVENT: 4 DAYS BETWEEN 31 JAN 2013 & 5 FEB 2013

SUBMIT AN ESSAY BETWEEN 800 AND 1,500 WORDS ON ONE OF THE FOLLOWING TOPICS FOR A CHANCE TO WIN.

1. WHAT ARE THE KEY QUALITIES OF A SUCCESSFUL 21ST CENTURY PRIVATE BANKER? WHY?

Although the focus here is on the principal positive attributes of a private banker, before writing the essay it may be worth reflecting on the role of private bankers in the 21st century and the contemporary circumstances that face private bankers and are likely to face such bankers in the years ahead. Moreover, it might be worth considering the extent to which being a successful private banker involves attributes brought to the job or that can be learned on the job. Does the answer to this question depend on the approach taken to creating value in private banking in the first place? Where possible, use this essay to demonstrate your understanding of private banking, drawing upon any relevant material covered in the courses taken at university.

2. THE STALLED GLOBAL RECOVERY: IS THIS TIME DIFFERENT?

Recessions are normally over faster than the most recent experienced by the industrialised economies. This underperformance has coincided with a slowdown in growth in the larger emerging markets, giving rise to the view that the world economy is stagnating. This question asks you to reflect on whether and why the growth dynamics are so different now, compared to before the global financial crisis of 2007-9. The subtitle of the question contains a subtle hint—it refers to the title of Reinhart and Rogoff’s well-known book that draws upon lots of historical data to examine the factors that determine the rate of recovery from financial crises. This essay is a fine opportunity to demonstrate your understanding of macroeconomics and on the factors that determine government reactions to financial crises and recessions.

3. SIMPLICITY VERSUS COMPLEXITY: WHAT ARE THE LIMITS OF STRUCTURED FINANCIAL PRODUCTS?

Once seen as a means to combine financial instruments in ways that deliver higher returns or better manage risks, structured financial products have had a bad press in recent years. This question encourages you to reflect on the reasons for this adverse commentary and whether those reasons were and remain valid. It might also be worth considering whether it makes sense to lump all structured products together in the same category or whether classes of structured products should be viewed differently. To provide a solid foundation for your answers, you may want to draw upon the concepts and tools developed in university finance and banking courses.

4. "ALL WEALTHY PEOPLE SHOULD GIVE BACK TO SOCIETY". DO ANY PHILANTHROPISTS FROM EARLIER ERAS PROVIDE A MODEL FOR GIVING BY THE WEALTHY IN THE 21ST CENTURY?

This question can be readily answered by talented analysts with a wide range of backgrounds, reflecting the fact that ethical, historical, economic, political, and even anthropological perspectives might have plenty to offer in formulating an essay on this topic. Don’t forget that the essay question has two related parts—a statement at the beginning to react to plus an inquiry as to whether past practice offers much of a guide to future behaviour. Including the temporal dimension offers a number of intriguing ways to write this essay and you want to consider which line of argument is most compelling, original, and of relevance to the 21st century.

WINNER (ONE PARTICIPANT)

1. Flights accomodation and living allowance attendance of event
2. Scholarship Fund or academic debt payment of 2,500 CHF

1ST RUNNER UP (ONE PARTICIPANT)

1. Flights accomodation and living allowance attendance of event
2. Scholarship Fund or academic debt payment of 1,500 CHF

2ND RUNNER UP (ONE PARTICIPANT)

1. Flights accomodation and living allowance attendance of event
2. Scholarship Fund or academic debt payment of 1,000 CHF

HONORABLE MENTIONS (TEN PARTICIPANTS)

1. Cash 250 CHF