Alumni Profile - Ben Bugg

Durham University Business School Alumnus Ben Bugg (MSc Finance, 2010) joined Legal & General in September 2010 as a Graduate Trainee. Here, he offers advice to Durham graduates and explains how his MSc helped him be successful in obtaining his current role.

1. Firstly, tell us a bit about your role as a Graduate Trainee at Legal & General Investment Management. How long have you been in the position and how did it come about?

I have been working as a Graduate Trainee at Legal & General Investment Management for just over 1 year now. As a graduate in the company the first point of call was training in order to learn how the City works and to understand the securities and tools used by asset managers. I also had to pass the IMC (Investment Management Certificate) which is conducted by the CFA Society of the UK and designed to demonstrate competence for regulatory purposes. Training lasted for 7 weeks after which the real fun began. I have had 4 rotations within the front office spending 3 months in each of the Active Fixed Income, Index Funds, Active Equities and SIRM (Strategic Investment and Risk Management) departments. I shall be finishing my time in the SIRM department in the next 5 weeks before moving back to my home department of Active Fixed Income.

I found the position on Milkround.com and the process is very similar to that of other graduate programmes; online application and tests, and an assessment day which of course included an interview. What stood out for me with LGIM, compared to other graduate positions, was the opportunity to spend time in a number of front office divisions.

2. How do you feel your Durham postgraduate degree in MSc Finance prepared you for/helped you obtain your current role?

The MSc from Durham certainly made me stand out from the crowd. Nowadays it seems that everyone entering the world of finance has a bachelors' degree; a masters was a way of distinguishing myself further. However, I would say that completing a masters only shows your academic ability; there are a number of other skills which you need to acquire to help you get ahead in the world of work. My advice would be to get involved with all aspects of university: sports teams, societies, SCR/MCR elections and work experience. Whilst at Durham I joined St. Chad's Boat Club, led the CFA Investment Research Team, won Investor of the Year on StockTrak and achieved the highest academic performance for the MSc in Finance, all of which helped me to get where I am today.

The MSc was useful as soon as I started my role at Legal & General as the knowledge and skills I had gained enabled me to engage in conversations with colleagues (albeit they did know far more than I did but at least I could understand what they were saying). The MSc also gave me a strong advantage whilst studying for the CFA level 1 which I took (and passed) in June this year after receiving a scholarship from Durham University Business School. CFA Partnership universities are awarded 5 scholarships each for the CFA level 1 exam to be awarded to the students of their choice. I had to submit an application to DUBS and Dr Thomas Renstrom chose who they were awarded to. (You can find more information on the scholarships on the CFA’s website.)

3. Can you describe your typical day?

I don’t really have a ‘typical day’ as I have been changing departments every 3 months, but I’ll usually start the morning reading about new research on the markets and the economy. Depending on the rotation, this is then followed by a meeting to chat about current affairs. After this, things can be rather ad-hoc. Some days I'll spend my time modelling on excel, others prepping to meet CEO's of some of the biggest companies to discuss their latest results and future operations. Throughout the day I keep an eye on the activity of the markets. It’s amazing watching the impact a highly topical news flash has on the world’s markets.

4. What would you say has been the most satisfying aspect of your career so far?

Working with some of the country’s most recognised fund managers has been a truly unique and exciting experience. Learning how these great minds tackle the decisions of where to invest and gaining  their thoughts of the investment world has been invaluable.

5. Where do you envisage your career might take you in the future?

I imagine I shall stay within investment management, with the long term aim of running a Global Credit Alpha Fund.

6. What are your fondest memories of your time in Durham?

Without a doubt, croquet in the summer at St. Chads. A past time I am very fond of… and a rather large distraction from writing my dissertation! I also thoroughly enjoyed formals and getting up at 5am to row on the River Wear. It was early but our spirits were alive.

7. Do you keep in contact with many people you met at Durham?

I certainly do. In fact I only today received a letter from my friend Katie who's studying her Law degree in America. I also meet with many other alumni for drinks and/or dinner, as many of them work here in the City too.

8. What do you do to unwind?

I enjoy travelling. I particularly enjoy short city breaks as they're a great way to experience new foods, new wines and meeting new people – but there’s no time to get bored.

9. Lastly, if you had one piece of advice for current Durham students, what would it be?

Play hard as well as work hard! Ensure you enjoy and make the most of your university experience as you don’t get this time again!