Sample cover letter for Internship position at Morgan Stanley

I am writing to express my interest for a place on the Institutional Securities Spring Internship in 2016. I am enrolled on an undergraduate degree in economics at the London School of Economics and Political Science (LSE). Having found out about the programme from the website, I was compelled to apply due to the range of departments that the bank provides exposure to, such as Global Capital Markets and trading, which I am particularly interested in. Such a programme will develop my knowledge of the organisational structure of investment banks and the function of various departments, which would enable me to pursue the goal of securing a summer internship at the bank in 2017.

Attending an insight day at the bank in summer 2014 gave me a useful introduction to the bank's culture. While speaking to some of the employees working in equity research and commodities trading, I was briefed about the important role played by Morgan Stanley in facilitating major transactions such as helping clients raise money in the equity capital markets. The fact that even senior employees were willing to give up their time to their roles and experiences suggests that the bank values human capital and has a friendly, supportive culture and this is what mainly attracts me to working at the firm.

Reading about how Morgan Stanley acted as the worldwide coordinator and advisor for AliBaba’s $25 billion equity IPO followed by an $8 billion debt offering 2 months later further interested me in the bank because of the benefits to the company’s profit and brand name. I was particularly impressed by how AliBaba became fourth largest technology company globally after the offering took place, given that the share price had risen to $93 from $68 on the first day of trading. The long standing relationship with AliBaba since the IPO of its website in 2007 demonstrates strong brand loyalty, which can only be the result of a client-focused service of professionals executing the transactions. Furthermore, the bank’s joint venture with MUFG in Japan has further cemented its position as a market leader in global corporate advisory and cross border deal executions; the role that Morgan Stanley plays in enabling firms to grow through strategic foreign acquisitions shows that it has bold leadership and committed teams, which again seems like a culture that an aspiring analyst like myself would want to be a part of.

The Young Investment Banker Programme and the Credit Suisse Insight Day (details on my CV) introduced me to how trading decisions are influenced by fundamental and technical analysis. Following these experiences, I researched further on trading foreign currencies and then opened a demo account with FXCM to actually get involved in placing trades in the forex and oil markets using what I had learnt. This experience, along with the recent events like the fall in oil prices and China's stock market turmoil, have strengthened my interest in trading and capital markets since these are areas where I can apply my knowledge of both maths and economics in the work that I do. I am especially intrigued by candlestick analysis and the use of stochastics to decide whether a trade should be placed or not and would like to develop this understanding further through observing how the bank uses mathematical models combined with macroeconomic indicators like the timing of the US interest rate hike to decide the probability that a trade will be profitable.

As a previous student of Mathematics, Further Mathematics and Physics at A Level and as an economics undergraduate, I have received lots of exposure to numbers and algebra, which will be useful for any quantitative work I undertake in during the internship. Completing an award-winning 13,000 word Extended Project Qualification about the Global Financial Crisis of 2007-8 shows that I have good project management skills such as time management and critical analysis, which will be useful for any project-based work I could undertake at the bank. By delivering a presentation on the causes of the Financial Crisis to a panel of judges, I have developed confidence and the ability to articulate complex ideas, all of which will help me in the group exercises and presentations I might be involved in at Morgan Stanley. In addition, working at an accountancy firm on tasks within finance as well as asset management has significantly developed my knowledge of Excel modelling and financial control, which will assist me in any computer based data analysis projects that I may undertake during the Spring internship.

I hope it is evident from my CV that I am a committed and diligent individual who is well suited as a candidate for the Spring internship programme. I believe that my academic potential and skills will serve me well for success on this internship and I would greatly appreciate it if you offered me a place.

Thank you for reading this.