SG Cowen ² Case Overview Investment Banking Industry
in 2001
Consolidation. Targeted the custody business 50% of revenue was paid as employee salary Societe Generale started operations in 1864, nationalized in 1945, privatized in 1987 and purchased Cowen & Company in 1998 for $600 million. Cowen - bond brokerage firm - started in 1918 Dedicated to research, equity sales and trading. SG Cowen President and CEO is Kim Fennebresque 1,500 professionals Main focus on health care and technology Believes in the philosophy of not only growing worldwide but also attracting the right people for the right job fit.
SG Cowen ² Hiring Process Promoting analysts (no business school experience) to associates after 3 years Hiring interns as full
time associates after they graduate
New associates - hired
in fall through campus recruitment Company presentations in core business schools (top 10) Resumes received from non core business schools ³Informational interviews´ conducted before actual interviews to understand potential candidates and give them an overview of company goals and requirements.
Team Captains - given the task of promoting the company in one business school.
SG Cowen ² Hiring Process New Strategy by Rae Go to the top 25 schools and pick up top level students. Focus on advantages of SG Cowen - fast movement in careers, less bureaucracy, small deal teams and larger exposure to clients. High Interaction between alumni and potential candidates
On Campus Rounds 2-3 schedules of interviews - one open, rest closed interviews.
Super Saturday Candidates, interviewers and CEO have an interactive night out CEO gives a presentation which peaks the interest of the candidates. Interviews - next day - 5 and half hours with short breaks
Recommendations Fairness and Uniformity in the selection procedure Certain recruiters are tough and some are lenient. High Interaction
between Team Captains and
Candidates Psychological tests Effective way of gauging the person¶s character Enables the company to estimate the maximum performance level of an individual rather than his typical performance level
Recommendations Natalya Godlewska Positive feedback from her last employer Impressive analytical
knowledge
Good understanding of Finance
Andy Sanchez Extremely successful entrepreneur Cognitive Abilities-High GMAT and SAT scores Genuine Interest in Investment Banking
Multi-linguistic Outstanding Interpersonal Skills Determined, ambitious, hardworking Perfect Job Fit Ambitious and radiated positive energy Low Academic Performance Not Proficient in spoken English
Recommendations - Reject Martin No
Street
Ken Goldstein
relevant work experience
Lack of genuine Interest
and
commitment to join SG Cowen High maintenance employee
