"James, I want to talk to you."

Unable to get the answer from Wang Feng, Chen Qiaoshan simply went straight into the boss's office.

He had dealt with foreigners a lot in his previous life. In terms of his scrutiny, no one was smarter than anyone else. Even in the most turbulent Democratic Republic of Congo, no one or two domestic businessmen who bought blood sandals were deceived by local black people and lost all their money.

Of course, foreigners also have an advantage. As long as they do not involve personal interests, they will rarely go around with you.

"Chen, what's wrong?" James looked up at Chen Qiaoshan, then put down his work.

Chen Qiaoshan took out the Goldman Sachs account and applied for opening an account and said, "Boss, I am completely familiar with this booklet. What else can I help?"

He didn't mention the assessment, of course, James would definitely understand what he meant.

A hint of surprise appeared on the white VB's face, but it quickly covered it up. He raised his wrist and looked at the table below, and then said, "Chen, sit down and say, I think we really need to talk."

Chen Qiaoshan was not pretentious either. Like an interview, he sat down opposite James' desk.

"Are you sure you are fully familiar with the relevant application terms?" James seemed to want to confirm and asked again.

"It should be no problem." Chen Qiaoshan was so reserved. The application for opening an account for foreign banks was very complicated, or strange. Both sheets of paper from domestic commercial banks were troublesome. The terms here could be bound into a book after printing them, and the rules and regulations were enough to make people dazzled.

Of course, in Chen Qiaoshan's opinion, a lot of content is purely a way to take off your pants and fart. For example, after opening an account, the account and password are given to you separately. If you want to change a password, you have to make an appointment in advance. However, the foreigner recognizes this and he can't say anything.

James seemed to have not noticed his answer. After Chen Qiaoshan sat down, he said, "You have been in our team for three days. Let me ask, what do you understand PWM?"

"Help wealthy people invest and manage their finances." Chen Qiaoshan answered very simply. Private wealth management sounds very high-end, but in fact it is just that.

People often say that money is king in Western society. That's right, but whether in the East or the West, the top of the food chain is always only a small part.

Whether it is a private banking or a PWM, customers must be classified.

The lowest level is that you just meet the account opening requirements. Similar to basic accounts, customers cannot provide too much profit. This is why many private banks try every means not to open a basic account for you. If it is a VIP account, it is another experience.

The most popular ones are of course high net worth customers, which are divided into high net worth and ultra high net worth customers. Further subdivided are Xinfu and Family inheritance Wealth. Different categories have obvious different ways of dealing with them.

Although Europe and the United States boast about equality of all beings all day long, it is another matter when it comes to interests.

When dealing with ordinary customers, private account managers have a high chance of changing each other in three or two months. If they are high-net-worth customers, they will definitely serve one-on-one all year round, 24 hours a day, and will be online and visit them all the time.

As for ultra-high net worth customers, they are basically equivalent to private housekeepers.

From studying for children to seeing a doctor, you can find them whenever you encounter problems, from divorce transfer of property to inheriting death inheritance, you will definitely help you properly, so there is a saying that a private wealth consultant knows you better than your wife because he knows where you put every penny, which is something that ordinary commercial banks cannot provide. Of course, the entry threshold is also quite high.

James did not respond at all, and could not see any satisfaction or dissatisfaction with Chen Qiaoshan's answer. He then asked: "I have nine coins, the appearance is exactly the same, but one of them has different quality. Do you have a balance, how many times can you find that coin at most?"

Chen Qiaoshan was stunned. This happened to have an intelligence test. He had heard before that foreign company interviews would test IQ, and he might encounter all kinds of garbled questions, but he encountered them for the first time.

"three times."

This kind of pediatric problem is naturally not difficult for Chen Qiaoshan, but James did not stop there. He asked again: "It's still these nine coins. I only took two chances to pick out the special one. Do you know why?"

"It's very simple. Just know whether the special one is light or heavy."

Chen Qiaoshan felt insulted. If he couldn't answer such a question, the intelligence test he had done back then would be wasted.

"Good, Chen, you are the smartest person I have ever met." James finally had a smile on his face, but it would be fine for Chen Qiaoshan to listen to his praise. Whoever can enter Goldman Sachs was not a big shot in from thousands of troops. It is basically impossible to crush them by relying on IQ.

"James, you just want to test my IQ, right?" Chen Qiaoshan replied with a smile. Working in an investment banking company actually does not have that high requirements. As long as the IQ is online, it will be done.

Financial dogs, called bankers, are essentially financial migrant workers. They are not comparable to who can achieve constructive results. They are the work of research institutions. It depends on who can avoid making mistakes, and they insist on not making mistakes all year round.

Investment banks are indeed very high, but if calculated based on the average working hours, Goldman Sachs’ hourly salary may not be much higher than brushing a plate at Golden Arch.

James smiled, "Chan, if you are given a job with an annual salary of $60,000, there are two payment methods. The first is to give you one-time, and the other is $5,000 a month. Which one would you choose?"

Chen Qiaoshan was stumped. If anyone who was a normal person would definitely choose to settle the bill once, and at least he could still earn interest when depositing in the bank. However, in this case, such an answer would definitely not satisfy James.

"Look at the interest rate." Chen Qiaoshan thought for a while, "If the actual interest rate is positive, I will definitely take it all at once. Of course, I also have to consider the opportunity cost. If I encounter a good investment opportunity, even if the interest rate is negative, I will choose to settle it in one go."

"What is the actual interest rate?" James continued to chase after him.

Although Chen Qiaoshan often skips classes, he still has the necessary economic common sense, "The interest rate after inflation is the actual interest rate."

He did not stop there, and continued: "Real interest rates are one of the criteria for judging a country's creditworthiness. The higher the real interest rate, the net capital inflow will be. The most common example is that the exchange rate of the US dollar is to keep a close eye on the real interest rate being adjusted."

James was not satisfied, and he continued to ask: "What is the deposit interest rate in Hong Kong? What was the inflation rate last quarter?"

Chen Qiaoshan was really caught in the question this time. Hong Kong is a bit bigger and he has no hope of speculating in Hong Kong dollars. He is not in the mood to pay attention to these situations. The data must not be nonsense. He had to say: "I'm sorry, I don't know the specific data."

"To be honest, Chen, you really surprised me." James finally calmed down his tone, but in a flash, he asked again: "I really want to hear, what investment opportunities you just mentioned are the very good investment opportunities, which projects do you specifically refer to?"

"For example, stocks, or bonds, and funds are basically normal wealth management." Chen Qiaoshan did not expect to guide PWM's investment managers to trade stocks. It was just showing off his skills and was uncomfortable.

James obviously did not let him go, "But as far as I know, investment is risky, and no product in the world can make a profit without losing money."

Chen Qiaoshan was stunned, but in just a moment, he understood James' intention. This was a trap. "As far as I know, not all investments are risky."

James didn't seem to understand what he meant, "Chan, do you have any ideas?"

"Beyond Markowitz's theory points out that risks are divided into three levels, namely guaranteed risks, market risks and achievement risks."

“According to our PWM investment principles, safeguard risk is the highest priority investment, and even private banking customers should be properly allocated.”

"Even the world's richest man like Bill Gates will buy some insurance in order to deal with the risk of not being able to guarantee the most basic living standards, right?"

Chen Qiaoshan is becoming more and more relaxed the more he talks. Among all investments, insurance should be the safest investment. Of course, this insurance is different from non-investment targets.

In addition to preserving and increasing the value, insurance products provided by private banks are more of long-term and safe risk transfer and asset preservation tools. The lower the risk, the lower the returns. For financial management, a risk assessment will generally be conducted.

Low-risk investment ensures quality of life. The intermediate level is to maintain wealth level and social status. High risk is to break the wealth bottleneck and make a big profit with small profits. However, some people who sell insurance and promote financial derivatives are always high returns. As for risks, they will naturally not mention them.

James really had nothing to say this time. Chen Qiaoshan's performance completely exceeded his expectations. "Chen, I'm very curious, are you really just a freshman?"

Chen Qiaoshan smiled and said, "You don't have to doubt this, you can prove it to me."

"Your performance is perfect. To be honest, I was surprised. You are the most talented intern I have ever met." James was generous. He was indeed surprised. None of the above questions were simple. Even if you find a senior analyst to answer, you may not be able to do this level.

Chen Qiaoshan was also a little proud. No matter what, it is what many interns dream of being valued by VB. Even if they can’t get the opportunity to recommend internally, they can add a lot of points during the internship assessment, which undoubtedly increases the possibility of admission.

"James, I've passed the assessment?"

James's face looked a little weird, "Chan, you should know that you don't have to worry about your future return or offer, and don't be too obsessed with your work."

Chen Qiaoshan was full of doubts. He never thought about getting a re-hire opportunity. Besides, it was still early to graduate and he was not so anxious to find a job. "James, what does this mean?"

James thought about it and said seriously: "Chan, you didn't go to Goldman Sachs through hiring managers, nor did you have formal training. According to convention, you can't hand over the task to you."

Chen Qiaoshan was confused and called him, but he didn't arrange a job for him. What's the point? "James, can I know why this is?"

"You don't know?" James also looked suspicious and paused before he said, "Resource channel employee, don't I explain in detail, right?"
Chapter completed!