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06.15.2011 / GLOBAL SECTOR GROUPS


Elise Juguet: "The field of structured finance is very creative and requires customised solutions."

Elise Juguet, currently a student intern, explains her role as a Telecom Finance Project Management Assistant assigned to the Global Investment Banking division.


What was your background prior to Crédit Agricole CIB?

After two years of preparatory coursework following high school, I was admitted to the HEC-Paris Business School in 2006. During my gap year, the two internship placements were markedly different and helped shape my interest in the fields of financing and investment. Following an internship with a start-up where my tasks were quite varied, I spent six months in a consulting capacity at Pricewaterhouse Coopers in Rome, then another six months with I&P Etudes et Conseils, a Private Equity fund dedicated to African business ventures. Upon completing my final year of school, my last student internship was oriented towards a finance and investment bank setting, more specifically one specialised in structured finance, an area I was eager to discover.


Why did you apply to Crédit Agricole CIB?

Crédit Agricole CIB is among the best positioned banks worldwide in the structured finance sector and offered me the assurance of learning about this exciting field under the best possible conditions and participating in some large financing projects.


Can you describe your mission with Crédit Agricole CIB?

I've been assigned to assist the Telecom Finance project management team. Telecoms account for roughly 90% of our clientele. We mainly work with foreign operators on a range of diversification strategies, including LBOA leveraged buy-out is the acquisition of all a company's shares financed largely by the borrowed funds., debt restructuring and project financing.

60% of my mission consists of modelling cash flows by designing Excel spreadsheets. Practically speaking, this task involves correlating a client's financial data with corresponding market segment data in order to derive a forecast with several scenarios. Through this forecasting technique, the Bank is able to establish the client's reimbursement capacity, which allows proposing the most appropriate financing solutions. These models serve as a working tool when conducting negotiations with clients and for in-house use, especially during the credit application process.
Another major assignment is to prepare credit applications. I'm heavily involved in conducting clients' financial analyses: balance sheets, income statements, information summaries focusing on the company and its market segment.
 


What do you appreciate most?

I really appreciate the exposure to various types of financing strategies. At my level, I don't participate in negotiating the price of debt or the kind of structure to be implemented on behalf of clients. Yet I'm learning a tremendous amount since my fellow team members always take the time to explain to me what they're doing and why, as well as the stakes involved in the transaction. This willingness to share has provided me with an understanding well beyond the scope of my mission.

We need to propose customised financing solutions that take into account both client and market constraints. Moreover, the sector of structured finance introduces plenty of creativity. Each client is unique, eliminating any possibility of a standard solution and instead developing personalised approaches. This continual reassessment is another appealing aspect.

Last but not least, I'd also like to underscore the excellent coaching the Bank's managerial staff have provided not only to me but all interns. As of the first month, emphasis is placed on training and throughout the internship the team remained available to answer my questions, which has been extremely valuable and no doubt contributed to the great amount of trust I felt during subsequent missions.
 


So what are your plans now?

On the heels of this growing experience with Crédit Agricole CIB, I've accepted a mission in Madagascar through the VIE (Volunteer for International Experience) organisation, on a one-year renewable contract working with the French Development Agency. My assignment will focus on private-sector financing.



Elise Juguet, Telecom Finance Project Management Assistant, Global Investment Banking, Paris

Elise Juguet, Telecom Finance Project Management Assistant, Global Investment Banking, Paris