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mattistotlemattistotle Registered User Posts: 1,743 Senior Member
Hey I got an internship at Legal and Compliance in Blackrock. I'm a department hire, so I'll be staying on after the summer. Has anyone worked there and can tell me anything about how it is there? The people seem nice, but I have very little idea what it will be like/what I'll even have to do, I've just heard it's a lot of Excel.
Post edited by mattistotle on

Replies to: Blackrock

  • mattistotlemattistotle Registered User Posts: 1,743 Senior Member
  • CalcruzerCalcruzer Registered User Posts: 4,832 Senior Member
    Well, I haven't worked at Blackstone, but if it's like most investment banking firms (where I have worked in the past), it's all about the computers. You'll spend most of your time putting together pitchbooks. This means you'll be reviewing company comps. (comparable ratings). In your case, you will also be comparing their risk ratings and compliance with governmental regulations, such as Sarbanes-Oxley and pollution rules and patent agreements, etc.

    You might also end doing the updates on what's called league table data--which means updating how many deals the I-banks have completed. You might also be reviewing possible IPOs (Initial Public Offerings).

    Just out of curiosity, what kind of background do you need nowadays to get an internship in Legal and Compliance at Blackstone? My son is a freshman seeking a joint finance and business law major at a top 10 finance program (Indiana Univ), and I'm sure in another year or two he'll be seeking an internship similar to the one you have now.
  • theFireballKidtheFireballKid Registered User Posts: 161 Junior Member
    mattistotle has an internship with BlackRock, not Blackstone. BlackRock is not an investment bank but rather an investment management firm who acquired Merrill Lynch Investment Management last year.
  • CalcruzerCalcruzer Registered User Posts: 4,832 Senior Member
    Thanks for the clarification--I just presumed he wrote the name wrong--I haven't heard of BlackRock before.
  • holla9holla9 Registered User Posts: 76 Junior Member
    I think they have over a trillion dollars under management. Pretty big firm to have never heard of ;). I think originally it actually was part of Blackstone.

    I've heard good things about their corporate culture. It's a prestigious place, lots of really smart people there. But I honestly couldn't have less of an idea of what I'm talking about.
  • wisewallstwhizwisewallstwhiz Registered User Posts: 15 New Member
    While I don't kno what you will be doing at Blackrock, I can tell you that another poster's description as to your duties are incorrect given you're working in the Legal and Compliance Department. You're not either in the equity research arm of Blackrock, so while you obviously will be asked to do some number crunching here and there, I doubt you will be asked to do much given your assigned department. Most of compliance is actually in place to make sure the firm (i.e. Blackrock) is fulfulling regulation of their investment funds as it relates to their trading, management, custody, transfers and investor rules.

    Hope this helps! :)
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