Quote:
Originally Posted by Unregistered
The term "Middle Office" in BBs is a functional/team thing -> Strictly, it refers to the team that supports trading desks by booking trades, either on the street side or client side.
In other words, it is a matter of nomenclature for that one team. But as long as you do not generate revenue or bring in clients, you are "not FO". The traders/sales/bankers don't see a difference in MO/BO, neither does the company nor the employees in "MO/BO". The distinguishment doesn't make sense, especially in an investment bank, because you have scenarios where what you call as "traditional" BO teams, speaking to FO/clients, and what you call "MO" teams, that don't.
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Fair point. Would just like to point out that there is actually a slight distinction not just in terms of title, but also salary and prospects for MO via-a-vis BO. Think about roles like risk, client services and trade support as opposed to settlements/clearing, technology, compliance and HR.
Not a great difference in pay (pretty minimal), but still noticeable. It is also more likely (although still low) for MO folks to lateral to FO as they are closer to the revenue generating side of the business as compared to those in BO (which are typically situated outside the country or CBD).