There’s no working from home, no hot desking and no sign of any Zoom calls. Headsets are on, desk phones are essential – and the floor colour dictates behaviour.
The first thing you need to know about Australia’s biggest and newest trading room is that there are two shades of carpet.
There is no working from home, but there is a mix of stand-up and sit down desks, a subsidised canteen, a couple of sections that are boxed off with five-foot high glass walls, traders wearing headsets while talking on the phone and screens. Lots of screens.And there’s life. Brokers talk to clients or haggle over trades, the syndicate desk yells to traders to check a book message on a live bond deal.
Mike Hendrie has spent 29 years with UBS, and was appointed to run its local markets operations this year.Overseeing it all and with a simple office at the end of the desk is Mike Hendrie, a bond sales trader and 29-year veteran at the Swiss bank. He’s interested in vintage cars , the ocean, Aussie Rules and his kids’ sports. He is personable, proud of his kids and his team at work, and definitely not boring. He is a seasoned sales guy, after all.
He says he’s also highly supportive of helping up-and-comers get experience in offshore markets. He says the most stressed he’s been was when he went to London in 1997, with a wife and two-year-old kid in tow, and discovered what it was like to work in a different culture. But it played a big part in his journey to the top job today.
The sales operatives and traders have their ideas fully baked, having kicked off with the daily equities meeting at 7.30am in the “Bondi” meeting room. The macro markets and rates team meets at 8am. On Wednesday morning, the rates team talked about Australia’s budget, the US debt ceiling and the spate of bond issuance.At the end of the L-shaped floor is Hendrie’s office, which is close to his old stomping ground of rates and FX.
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