(Cash) Bond Sales is an area of many banks and boutique investment houses. Sales teams around the world maintain relationships with investors who buy (or sell) bonds for their own investment strategy or on behalf of private investors. Bonds are instruments usually issued by a government or corporate entity for a variety of financing reasons. At the stated bond maturity, the investor receives their initial capital plus a fixed or floating rate return.
Examples of investors would be pension funds, insurance companies, private banks, family offices and hedge funds. The sales persons normally speak to their clients hoping to earn an order which will pay them a commission for each transaction. The bank or investment house will either have an inventory of bonds or will be able to source the bonds from other houses.
A typical bond salesperson will have a broad understanding of fixed income markets as well as some experience in either dealing to retail, high net-worth and or institutional clients. A salesperson needs to be both pro-active and reactive as they will market ideas to clients as well as take client orders. Ticket sizes can be very large and trading days can be intense and instantly gratifying. In volatile market conditions, staying cool and calm are paramount attributes.