Nick Webb, CFA
Associate Director, Credit Trading, Financial Markets
Westpac Institutional Bank
What are some of your career highlights so far?
My first year in markets was pretty remarkable. I was a grad in interest rate trading at BNZ in 2008, just a gentle 550bp range in 2 year swap that year. It was an incredible introduction to the market and terrific training. From there the move into Credit trading and to Westpac were both really formative, learning to trade a highly illiquid long only market through various cycles is tough but prepares you for a lot.
Very recently I was fortunate enough to act as industry mentor the University of Canterbury team who won the NZ leg of the CFA Institute Research Challenge. The team did a cracking job and I’m looking forward to them taking on the Asia Pacific regional competition in Seoul, March 2020.
What do you like most about your job/industry?
Trading credit is great in that you have to stay on top of all kinds of macro and micro features of the market, from global sentiment down to the individual metrics of a company. Because we’re a small market you can’t specialise too much, there’s always more to learn and that helps to keep variety in the day to day. Working in a lively dealing room environment where you’re constantly challenged on your view & often laughing is great too.
What are your interests outside work?
Before markets I largely supported myself playing poker, which has a bit of an overlap with trading in terms of skill set. I still enjoy a game but play far less nowadays. Also I’m helpful on my semi-serious pub quiz team. My priorities and free time outside of work have changed plenty this year though, as it’s my first year as a father.
Make a prediction for 2024
NZ will follow the global lead and passive investment will have grown rapidly over the past five years. Plus we’ve already seen a negative Official Cash Rate by that year.