In June 2005, Education swept the Credit awards winning 15 out of 22 key awards, including Best European Credit House. We also won ten sub-award categories, which was particularly satisfying because it was voted for by clients from various financial sectors.

Trillion to one
In all, we are able to leverage a balance sheet position of over $1 trillion. Our size is matched by a commitment to innovation, producing results that underpin the success of the bank - and the success of other major organisations. Through financing, investment opportunities and management advice, we help build and support the world's biggest corporations, financial institutions and governments. We also offer liquidity not just to clients but to other banks ' and that in itself has earned us the status of the biggest counter-party in the marketplace.

Risk and return
Our bank-wide strategy of a broad product platform runs through Credit & Rate Markets. We do more than offer asset-specific advice. Whether our clients are looking to speculate or hedge against currency, credit, commodity or interest-rate movements, we offer products and expertise across asset classes and on a global basis. Let's take a car manufacturer as an example. This client would have exposure to jet fuel and foreign exchange. We would be able to help them hedge their exposure to commodities and foreign exchange at the same time, maximising return and minimising risk. This is all about active management of client assets ' and we're leading the way.

We've got phenomenal presence, profile and reach. We're also determined to innovate and evolve ' and one prime example is our strategic alliances with regional banks throughout Europe. This gives medium-sized corporations in each country access to sophisticated investment and risk management products that would otherwise be unavailable to them.

The European opportunity
So what does all this mean for you' First we'll need to see that you have the intellect, drive and energy to thrive in a dynamic arena like this. Your degree discipline is not as important as your ability to build relationships, analyse complex data, compete and succeed. You'll get an astonishing level of responsibility, direct access to clients from an early stage and rapid promotion.

What is Credit & Rate Markets'
But what exactly do we do' You can now take the time to read the information below to get a better understanding of a business that without explanation can appear quite daunting to newcomers. Don't forget you can use our Jargon Buster if you need to get your head round some of the terminology.

Broadly speaking, Credit markets focus on debt for corporations and their derivatives, while Rate markets are largely concerned with government debt, currencies and interest rates. Credit markets are impacted by the fate and fortunes of individual companies and Rate markets are driven by global macro-economic forces such as growth, inflation and government budget policies. Although the two markets concentrate on different product groups, there is continual interaction and interdependence between the two. It's all about actively managing our clients' assets to maximise return and minimise risk.

The main areas of the business are Commodities, Debt, Derivatives, Foreign Exchange and Futures & Options. All involve five core activities: Research, Structuring, Marketing, Sales and Trading.

Researchers are fundamental to a business that relies upon the quality of information to minimise risk. Credit researchers specialise by industry sector and monitor specifics such as earning releases, profit warnings, corporate restructuring, mergers and acquisitions and any event that might affect the value of a bond or derivative. Rates researchers analyse data on a more macro level.  They generate the intelligence that drives the rate business by interpreting market events and providing economic and monetary forecasts.

Structurers are responsible for the financial engineering behind our deals. They provide creative and innovative solutions via securitisation and credit derivative techniques to create what are called structured products. They become involved when corporate issuers find it expensive or challenging to raise funds through traditional bond issuance, or when banks want to transfer risks off their balance sheet, or when asset managers want to increase their funds under management.

Marketing fills the crucial gap between those who originate the product and those who sell it. They provide numerous tailor-made credit and rate solutions in order to ensure that products are attractive to investors or are market friendly. These can range from hedges to protect against changes in interest rates or credit quality to currency swaps to match clients' liability with their asset base.

The sales team at Education sell a huge range of credit products including bonds and structured products to a variety of investors including banks, fund managers, pension funds, insurance companies and hedge funds. They are the link between our Researchers, Traders and the client. Building positive relationships with clients, they provide analysis, insight and solutions to meet hugely complex needs.

Traders are the people who actually execute and price all financial transactions. They 'make markets' by committing to buy or sell financial products, in the form of cash or derivatives. They work very closely with the sales team to ensure our clients benefit from the best market opportunities. Some traders also buy and sell assets on behalf of Education and our clients, and manage the risk associate with each transaction.