Corporate Investment Banking Division of IMI - Intesa Sanpaolo

In this article, Andrea ALOSCARI (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – 2024-2025) shares his professional experience as a Summer Intern in the Corporate & Investment Banking Division of IMI – Intesa Sanpaolo.

About IMI – Intesa Sanpaolo

IMI – Intesa Sanpaolo is one of the largest and known banking groups in Italy, standing at the forefront of the Italian financial system and among major international banking groups. Based on the creation by the merger of two historic Italian banks, IMI – Intesa Sanpaolo stands today for innovation and sustainability as a leader in financial services. It operates a variety of services ranging from retail to corporate and investment banking, serving a vast clientele of millions of individuals and companies worldwide. It is committed long-term to creating value for its clients through sustainable performance combined with social responsibility.

Market Hub is Intesa Sanpaolo Group’s specialized department within IMI Corporate & Investment Banking Division. It is a business unit covering advanced trading and investment solutions for institutional and corporate clients. The Market Hub, in this regard, combines capital markets services with advanced technology in the said business unit to offer financial solutions that are efficient, transparent, and reliable. Thus, Market Hub acts as one of the leaders in the capital market world, offering everything from advanced electronic trading platforms to custom-designed investment solutions. It is here that I got an opportunity to work as a summer intern and hence acquire so much insight into the world of modern financial markets, working alongside some of the brightest brains in the industry.

Logo of IMI – Intesa Sanpaolo.
Logo of IMI - Intesa Sanpaolo
Source: the company.

My internship at IMI – Intesa Sanpaolo

In the Market Hub team of Intesa Sanpaolo, I was assigned diverse responsibilities that gave me a wide view of capital markets. Among the main tasks I carried out each day, I prepared reports summarizing and analyzing the results of the activity of my team in the previous day on fixed income, derivatives, and bonds. These reports were crucial in providing the proper overview of how the market was performing, how the team was doing, and whether it was hitting its goals. These reports required me to distill complex financial data into clear, concise, actionable insights for internal stakeholders and more senior bankers. It was there that I learned to present findings to both senior and peer colleagues.

Another important responsibility was to analyze the performance of Market Hub on different platforms such as Bloomberg, Tradeweb, BondVision, and MarketAxess. This included analysis of trading data and platform-specific metrics for market trend analysis and efficiency of performance. In the process, I gained significant knowledge of how technology fits into financial operations and how different trading platforms are designed in today’s investment banking world.

Every day, I actively participated in morning calls, where I discussed the most relevant market news with Milan, New York and London branches teams, regarding the current trends and the Market Hub results. This role called for being informed on all current global financial events and sharing the most relevant information that could have an impact on the team’s activity. Furthermore, I supported the sales team with client contract preparation, making sure everything was accurate in the paperwork, and facilitating smooth coordination with both sales and trading teams.

Finally, I received theoretical and practical training from Bloomberg, both at Intesa Sanpaolo and at its Milan headquarters. These really helped to boost my knowledge of the Bloomberg Terminal, from a basic to upper-intermediate level and hence to navigate market data more effectively.

The fast-paced environment of a trading desk.

Source: StockCake.

My missions

My internship responsibilities were diverse and challenging, reflecting the dynamic nature of the Market Hub’s operations. My missions included:

Preparing Analytical Reports: I have collected and analyzed data in order to prepare reports on market trends, trading performance, and product evaluations. These reports were of utmost importance for internal strategy discussions and client presentations, requiring precision and a keen understanding of financial concepts. Producing these also helped me build a stronger command of data visualization techniques and financial storytelling.

Supporting Trading Desk Operations: I analyzed real-time market data to assist traders in making informed decisions. This entailed monitoring key indicators, assessing liquidity conditions, and identifying opportunities for optimizing trade execution strategies. The depth of analysis required for this role provided me with a strong foundation in market mechanics and trading dynamics.

Collaborating with the Sales Team: I worked with the sales team where I analyzed client needs, helped the sales to prepare tailored financial solutions, and ensured effective communication between the sales and trading teams. This experience has allowed me to learn how to manage client relationships and how product offers must be made, in order to meet clients’ expectations and consequently establish important partnerships.

Required skills and knowledge

The internship required technical expertise, analytical acumen, and interpersonal skills. From a technical point of view, it engaged my knowledge of financial instruments such as derivatives, bonds, and fixed-income products. Knowledge of data analysis and data visualization by tools such as Excel, Bloomberg and Power-BI has been fundamental in the execution of data analysis. Proficiency in Excel allowed me to go through big spreadsheets of data and extrapolate for the team important information. Similarly, Bloomberg Terminal was helpful to access market data, monitor trading activity, or conduct deep research on any financial security.

Another very useful aspect was the quantitative and statistical knowledge. My comprehension of the main concepts such as regression analysis and time series forecasting, also if not strictly necessary, enabled me to interpret complex datasets and support predictive analysis tasks on Power-BI.

Equally important were the soft skills that enabled me to thrive in a high-pressure environment. Effective communication was extremely important because it called for frequent presentation of the results, on quite a technical level, to the Heads of the team. Adaptability and problem-solving were other critical skills during my internship, especially in periods when the workload was heavy and there was the necessity to reorganize the priorities. Lastly, teamwork ability played a significant role when I was assigned collaborative tasks with other interns and analysts.

What I learned

My internship at Intesa Sanpaolo was really enriching and opened my eyes to the world of financial markets and the strategic relevance of technology in modern banking. One of the most important lessons learned during this experience, if not the most important, is surely the precision and attention to detail that every operation of a financial nature should have. Whether in the analysis of market data or in the preparation of presentations for clients, everything had to be extremely precise and had to respect high standard.

I also learned a lot about how trading and market analysis works. How customer behavior, market dynamics, and technology systems interact allowed me to gain a comprehensive understanding of the variables affecting trading results. The internship has also made clear the importance of teamwork and communication toward the success of an organization. The interpersonal skills developed in working closely with leaders of the sector will undoubtedly help me in the future.

The use of Bloomberg Terminal, a very important tool in researching market data, real-time financial news, and deep research into different asset classes, was another skill I was further refining. Bloomberg allowed me to find instantly relevant information and develop actionable insight, crucial both for the trading strategy and for client presentations. This not only helped me to improve my technical knowledge but also instilled in me the need to use the right tools to perform efficient analysis.

Perhaps, most importantly, this experience allowed me to dive into the transformative impact of technology on the financial industry: from automated trading systems to advanced analytics tools, integration of technology into financial processes changes how institutions operate. Overall, this experience encouraged me to go deeper into the area where finance and technology meet.

Bloomberg Terminal, an essential tool for market analysis and decision-making.

Source: Bloomberg.

Financial concepts related my internship

I present below three financial concepts that were particularly relevant to my internship experience: market liquidity, derivatives and bond pricing, and trade execution algorithms.

Market Liquidity

Market liquidity refers to the ease with which an asset can be bought or sold in the market without causing a significant change in its price. Trading volumes, bid-ask spreads, and other indicators are only a few aspects that must be analyzed in an attempt to assess the depth and stability of markets. I learned that various events in the market such as the decisions made by central banks or geopolitical events, have huge influences on liquidity. This knowledge also underlined timing in trading decisions for maximum efficiency and minimum risk exposure.

Derivatives and Bond Pricing

The internship gave me an opportunity to learn and understand some of the intricacies related to derivatives and bond pricing. I understood, also if not personally performed, the ways of pricing derivatives, options, and futures based on volatility, interest rates, and prices of the underlying assets. I mastered methodologies for bond pricing, including the time value of future cash flows and periodic coupon payments in addition to the face value at maturity. This is based on interest rate dynamics and credit spreads, which affect fixed-income valuation. Although I did not perform the valuations myself, this experience really improved my capabilities to interpret quantitative models and to read complex financial data.

Trade Execution Algorithms

These advanced trading tools are engineered to achieve the best possible outcome in trades at an extremely low market impact and with a low transaction cost. In an electronic trading environment, I was privileged to pick up some concepts on the design and application of these algorithms. Knowledge about how the algorithms were calibrated in a balance between speed, cost, and market conditions gave me valuable insight into technological changes shaping today’s practices of trading.

An example of market liquidity trends analysis.
Bloomberg Terminal, an essential tool for market analysis and decision-making IMI Intesa Sanpaolo
Source: ETFstream.

Why should I be interested in this post?

This article will be really helpful for all students who want to orient their careers in finance, investment banking, and trading. It underlines the importance of practical experience within such a prestigious institution as IMI – Intesa Sanpaolo and the knowledge and abilities necessary for such a career. Understanding how markets and technology interact, in fact, becomes key for every finance aspirant, and this internship is a great illustration of that.

Useful resources

IMI Intesa Sanpaolo – Corporate & Investment Banking Division

Market HUB Intesa Sanpaolo

About the author

The article was written in December 2024 by Andrea ALOSCARI (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – 2024-2025).

My Internship Experience in the Corporate & Investment Banking division of IMI – Intesa Sanpaolo