Tag Archives: banking

Wesley Milillo ’18 at Global Investment Bank, Societe Generale

By: Wesley Milillo ’18

I currently work in Prime Services at Societe Generale. Societe Generale is a French-based, global investment bank with branches and offices around the world. Prime Services is a division within Global Markets that helps clients borrow, sell, and trade financial products. Clients ranging from hedge funds, to other banks, to mutual funds, seek to engage in execution services—i.e. trading, as well as clearing and settling which consists of updating and reconciling the accounts between two parties. Prime Services helps them to do this efficiently.

IPED student Wesley Milillo ’19 works at Societe Generale.

At Society Generale, I am a Transition Manager. Transition Management is a consultative, project-management team that helps clients come into the bank and do business with us. After a Salesperson ‘makes the sale,’ and the client agrees to terms and prices, there is still a lot that goes into getting the client up and running. There is a lot of documentation that is involved, ‘Know Your Customer’ (KYC) procedures to ensure our clients have compliant backgrounds, Credit terms negotiation, customer due diligence, and technology and reporting set ups. I work with our clients to help them through all these processes with our internal teams, and get the client “live” and trading in a timely manner. Through this, we help build long-term partnerships with our clients and ensure that all necessary checks and balances necessary for a good relationship are in place.

Being an IPED student has helped me to see the big picture with respect to the much internationalized financial services sector. Aside from the holistic international economics courses I’ve taken, I’ve also taken some coding classes as well as data and modeling courses as well. Having a background in data and quantitative skills are highly regarded in the financial services sector, so having learned this while working has allowed me to better contribute my skills on a daily basis.

Societe Generale is the global investment bank where Wesley works.

As a student in IPED, I am much more exposed to others who also have a background in developing countries. Hearing their perspectives, and learning about the interactions between both the political realm and economic realm, helped me to understand not only the developing world more clearly, but also our economy and background. Gaining an understanding of global capital flows and markets has given me a much deeper appreciation for our global economy and has helped me better contextualize our place in it.

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Student Spotlight: Gary Tuorto at Morgan Stanley

Gary Feature

Gary Tuorto (IPED 2017) currently serves as an intern at Morgan Stanley, specifically in the Finance Department within the Transfer Pricing Group. Morgan Stanley is a financial company engaged in the provision of investment banking products and services to its clients and customers including corporations, governments, financial institutions, and individuals. The Transfer Pricing Group at Morgan Stanley is a back office support role within company management at the firm. Transfer pricing is a method used by multinational companies to determine where and how profits are taxed and allocated to appropriate government authorities.

As an intern, Gary is responsible for determining the transfer price that Morgan Stanley uses to markup inter-firm transactions, mainly for tax purposes. He performs comparable company searches and uses statistical analysis to determine a range of markup prices to use for each business division within Morgan Stanley. Additionally, Gary is working on calculating the reserve requirements of Morgan Stanley, which is the amount of money it needs to hold to cover for adverse circumstances when transfer pricing strategies employed turn out to be reversed.

Gary learned of this internship opportunity from Jordan Radovan (IPED 2016), who interned at Morgan Stanley in 2015. He shares that Jordan was able to pass on his resume directly, and he would be happy to do the same to anyone who may be interested in interning at Morgan Stanley, particularly in their transfer pricing division.

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