StatsName: Helvecio Borges Guimaraes
Club Affiliation: Emerging Markets Association
Position Held: President
Club Mission: Provide educational and professional opportunities in emerging markets
Major: Finance and Accounting
Favorite Classes/Electives? Financial Accounting and Reporting; Managing Investment Funds; Decision Models; Development of Financial Institutions and Markets
Summer Experience
What industry did you work in this summer?
I was in the financial services industry, and did sales & trading at Merrill Lynch in London.
What was your function and how did you like it?
I took part in the Global Markets rotational program, and went through interest rates sales; emissions trading; and agriculture commodities. I think the rotational feature of the program is interesting since it gives the intern broad (though short) exposure to different sales and trading areas.
Anything you did not like?
I was placed at the interest sales desk almost at random, I never asked to do that. While I appreciated the experience, it had nothing to do with me or what I could potentially want to do.
What was the mood like in the workplace?
Tense, to say the least. With the worst days of the financial crisis looming and with Merrill Lynch announcing humongous losses, everyone was wondering whether they would be in their jobs in the coming weeks.
What was your most important lesson learned from the experience?
I am not an S&T person!
Opinion
What is your view on the current economy and how do you think interest in emerging markets is affected by it?
My view on the economy… I guess I can't see anything, is that reasonable? In fact, signs of recovery seem to be present sometimes, while at other times things seem to get worse. The other day the Wall Street Journal published a report indicating that lending was slowly taking pace again. The headline in the Financial Times today (February 14) is that the Eurozone's economy has experienced the worst slump in 50 years, with the recession steeper than feared.
There is an antagonizing aspect of this crisis when it comes to emerging markets. On the one hand those markets have been hit harder than expected, and the decoupling theory was proved to be completely wrong. Chinese exports, for instance, dropped 17.5 percent in January from the same month in 2008. On the other hand, however, those same emerging markets are the hope for a big push in global output once the crisis is managed, due mainly to their growing internal demand as their middle classes enlarge. The Economist Intelligence Unit wrote about Brazil's economy on February 11: "Brazil's ability to withstand the global downturn and perhaps avoid negative GDP growth for the year as a whole is enhanced by the sheer size and dynamism of its domestic market, and by the fact that its economy remains relatively closed—with the exports/GDP ratio at below 15%, compared with the median for emerging markets of around 40%."
What is your view of NYU Stern?
Ours is a great school in a wonderful city. You can't beat the experience of top-notch education in what is certainly one of the most interesting cities in this planet. I believe the administration is doing a great job to foster necessary changes in our infrastructure and physical environment. These investments will make the school even more attractive in the near future. The school's professional clubs have been working diligently to prepare its members for tough job market selection processes. These are efforts that take some time to mature, but results are starting to appear. Consulting firms have made a big push at Stern this year, with some recruiting full-scale for the first time and sponsoring MCA to the highest level. When students are well-prepared for interviews and excel at their job assignments, be those summer or full-time ones, the word spreads quickly and a reputation is built. I believe this is currently happening in many professional areas for the Stern community.
What are some of the resources for students interested in knowing more about opportunities in emerging markets?
We have worked this year to give students the opportunity to get in touch with firms that have businesses in emerging markets and may be looking for talent focused on those areas. For instance, in the Fall semester we organized corporate visits to Standard Chartered and the New York Fed, both with strong emerging market practices. We also brought Endeavor, the not-for-profit emerging market entrepreneurship organization, to speak to students on campus and present summer internship opportunities. We are already starting to work on visits for the Spring semester. Also, our study trip traditionally takes a group of students and significant others to an emerging market for a cultural and business experience. During next Spring break 85 people will visit South Africa on a trip organized by EMA.
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