COMMENTS
Good luck although it can't be that bad if you are working at the Atlantis.
Why not just open a margin account and still trade?
if you are as good as you say you are, you could do reasonably well and keep with the market/ Read all comments »
This is my story. It was only four months ago, I was looking at multiple computer screens, in the largest dealing room in New Zealand, trading the largest credit trading book in New Zealand, managing the largest fixed-income sales accounts in the country and running a proprietary trading book. My new office is the tennis courts of a top hotel in Dubai. I’ve voluntarily swapped the computer and tie for a tennis racket and tan, temporarily.
I started playing tennis at a young age and competing seriously by the age of 11. All my hard work paid off and I was selected as part of a three man New Zealand under 18 tennis team. It was my dream to see how far I could get in tennis, so decided a tennis scholarship in the USA was my best option. Given my ranking, I was courted by a number of schools and finally decided to attend University of Portland, Oregon – studying business, majoring in finance. I thoroughly enjoyed my time in Portland. At times it was tough – balancing five hours of tennis training a day, classes, homework, social life and missing approximately 30% of school days due to travelling and playing tournaments. I learned a lot about myself.
Whilst the principal reason for attending the University of Portland was for the Tennis Scholarship, during my senior year I was drawn to financial markets. I signed up for a margin trading account, read books, and began compiling a 200 page plus booklet with my own personal technical analysis, analysis on why I entered trades/exited trades and my future predictions.
I applied for the financial markets graduate programme at an international bank, armed with my booklet and was accepted. I worked in Wellington for approximately three years. During this time I worked as an interest rate dealer, credit trader, credit sales dealer and ran a proprietary trading book. Over my time, I excelled at my job and developed a strong financial track record. I believe the discipline that I learned in the USA, and my competitive sporting background gave me the edge in the workplace.
I resigned from the bank in May and relocated to Dubai
However, earlier this year I was given an opportunity that was to good to pass up. I was offered the chance to be a professional tennis coach at a major hotel based in Dubai. The timing was ideal, I resigned from the bank in May and relocated here.
So far, my impression of Dubai is mixed. It’s like the computer game Sim City, where a select few are designing their fantasy metropolis. The flipside is that there’s a huge division in wealth. There are the rich; there are the very poor. The poor wear identical pyjama-like suits, work in extreme heat, crammed into housing in the desert, and are paid very poorly.
Dubai has been hit hard by the global slowdown. Talking to a client who is a leading architect here, he believes new building projects has slowed down by approximately 80% on eighteen months ago. The landscape is living proof of this: it looks like a non-stop construction site as far as the eye can see. The projects which have been finished are absolutely amazing. The Palm, various hotels, Dubai mall and the world's tallest building - the Burj Dubai are beyond the imagination. To enjoy yourself in Dubai you need to be on the right side of the coin - you either love it, or you hate it.
I’m excited at the prospect of returning to a banking role. I really enjoy the aspect of being "plugged in" to global current events, and the diverse range of views that are debated on a daily basis from anything ranging from the US 2s/10s curve to the latest technology in golf drivers. Coaching tennis in Dubai is a great lifestyle, but I do not see it as a long term career. I am using it to gain international experience while giving me the flexibility and selectivity to plan my next move in banking.
To continue my career in the financial markets arena, my next aim is to work in a major financial hub. I’m actively looking for employment in a trading-sales role in financial markets. If anyone is interested in reviewing my CV or talking to me further you can contact me at jimredbanker@gmail.com.