Clearstream
Germain Lefebvre
01 October 2024
Every day is different for Germain Lefebvre, a securities finance trader at Clearstream, who speaks with Daniel Tison about “the beauty of securities lending”
Image: Germain Lefebvre
Can you tell me about your journey into the securities finance industry?
I graduated with a double master’s degree in financial engineering and economics. Following that, I had the opportunity to dive into various market finance projects, combining both data and my economics knowledge. What initially attracted me to finance was the complex and dynamic nature of markets, as well as the opportunity to apply quantitative skills.
After an internship at Eurex, I started an 18-month graduate programme within Deutsche Börse Group focused on risk and strategy. I worked in the derivative product field, which provided a comprehensive introduction to this industry. During my weekly networking calls, I connected with Alexandre Roques, head of the securities lending desk at Clearstream, who was seeking new talent for his team. I seized the opportunity and promptly applied to the rigorous recruitment process. A few months later, I was thrilled to join the team in London!
What aspects of your role or the industry do you find most exciting?
As a young professional in securities lending, I find the dynamic nature of the role most exciting. Every day is different, based on market conditions and demand. I find it particularly rewarding when you manage to close a deal successfully, especially after a series of tough negotiations. The beauty of securities lending is that you see a direct impact from the actions you took and the decisions you made during the same trading day.
Many companies offer various training and development opportunities for their employees. How has your company supported your growth?
My 18-month graduate programme at Deutsche Börse Group was an amazing experience, allowing me to work and learn across different teams and departments. In the past year, my main focus was on the Clearstream securities lending desk ecosystem and business-driven tasks.
I have no doubt that I will be able to leverage this knowledge and share it with colleagues at one of the initiatives that Deutsche Börse Group provides internally, as well as at external training sessions or programmes.
What misconceptions about working in the financial industry have you encountered, and how do you address these challenges?
One view is that all jobs exist in silos and that it is impossible to move from one line of industry to another. However, with a large and diverse group such as Deutsche Börse, I find that there is a lot of space for people to move between industries. I also think it is a great opportunity to use knowledge from different areas to bring innovative ideas and create links across markets!
Looking ahead, where do you see yourself in the next five years in terms of your career goals and aspirations?
I see myself advancing into a leadership role within the securities finance industry, where I can drive strategic initiatives and mentor junior team members. Over the next five years, my career goals include deepening my expertise in the securities finance environment and expanding my knowledge of emerging technologies, such as blockchain and AI, to stay at the forefront of industry trends.
I aspire to gain more experience across teams, which would involve collaboration with different departments and stakeholders. The securities finance and repo industries are still at an early stage when it comes to digitisation. I cannot wait to see what the future holds and to play a part in it!
What advice do you have for other young professionals aspiring to pursue a career in your industry?
Be proactive in seeking mentors and actively learn from their experiences! Curiosity is key — constantly ask questions and explore different roles to understand where your interests and strengths lie. Stay updated with industry trends, and never stop learning, as the financial industry is always evolving. Do not hesitate to call people!
Germain Lefebvre bio
Germain Lefebvre grew up in a countryside village of less than 200 people (about half the number of inhabitants of the building he now lives in) near Clermont-Ferrand in France. He spent his childhood between the classroom and the basketball court, where he played at a national level for Stade Clermontois for 4 years.
After graduating with a double master’s degree in financial engineering and economics in Marseille, he started a graduate programme with Deutsche Börse Group in Frankfurt focused on risk and strategy. In April 2023, he joined Clearstream’s securities lending desk in London, where he is responsible for the corporate and supranational bond lending book, negotiating loans and fees with clients.
During his free time, Lefebvre enjoys a wide range of sports, including basketball and freediving, reading (he is almost done with ‘The Count of Monte Cristo’), and politics.
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