2027 Financial Resources & Strategy Industrial Placement Internship (London)

Financial Resources & Strategy (FRS) Industrial Placement Programme

Since 1935, Morgan Stanley has been known as a global leader in financial services, continuously evolving and innovating to better serve clients and communities in more than 40 countries worldwide.

Placement and Duration

The Financial Resources & Strategy (FRS) Industrial Placement Programme offers an opportunity to experience the culture and atmosphere of Morgan Stanley. Interns will take on some of the responsibilities and functions of a Full-time Analyst for a one-year internship.

Interns will join FRS and complete rotations throughout the program, experiencing a range of roles while gaining exposure to the Institutional Equities and Fixed Income divisions.

The program is a one-year internship beginning with classroom training, followed by rotations across the FRS business areas: Resource Management, Margin & Capital Optimization, and Funding & Collateral Optimization. The program includes senior management speaker series, networking events, volunteering, performance review, and a mentorship program. Analysts will receive continued on-the-job training and work with experienced professionals on meaningful projects. In addition to day-to-day responsibilities, Analysts will be assigned projects presented to the entire division.

The program begins in June with one week of intensive classroom training, including an introduction to Morgan Stanley and division-specific training. In addition to rotations within FRS, Interns will gain broader exposure across all of Sales & Trading through individual and group project assignments, senior management speaker series, and networking events. Each Intern is assigned a dean and a buddy for support.

Responsibilities

Within the Institutional Securities Group (ISG), there are four primary businesses: Investment Banking, Global Capital Markets (GCM), Sales & Trading, and Research. Within Sales & Trading, Financial Resources and Strategy (FRS) operates alongside the Institutional Equities Division (IED), Fixed Income Division (FID), and ISG Risk Management.

FRS is a centralized function responsible for secured funding, collateral management, margin optimization, CCP (Central Clearing Counterparty) relationship management, and managing capital, balance sheet, and liquidity across ISG. Because FRS works with business heads to develop near- and medium-term strategy for growth and the optimal use of the Firm’s financial resources, team members work on projects across divisions, asset classes, and regions—delivering direct and meaningful impact on ISG and the Firm’s strategic direction.

Resource Management

• Closely integrated with FID, IED, and GCM to enable/pricing/deploy resources and partner to structure transactions to maximize returns and support strategic business initiatives globally.
• Manage front-to-back ISG Financials to ensure efficiency and optimal resource usage and operating leverage across balance sheet, capital, liquidity, and expense base.

Margin and Capital Optimization

• Responsible for margin and capital optimization for both cleared and uncleared Firm trading activity for all cash, derivatives, and securities financing transactions across all asset classes.
• Partner with traders in executing derivatives trades by pricing funding and capital impacts, and supporting execution of post-trade optimization.
• Engage with CCPs to establish new clearing services, often with capital/liquidity efficiency.

Funding and Collateral Optimization

• Finance ISG using repurchase agreements, total return swaps, and securities lending products.
• Responsible for ISG’s secured funding framework, including impacts to liquidity and capital requirements, and assisting trader execution within this framework.
• Optimize collateral margin postings while minimizing cost and pursuing revenue opportunities.

Qualifications, Skills, and Requirements

• Penultimate-year undergraduate student with outstanding academic achievements, on track to achieve a minimum of a 2:1 honours degree (or equivalent).
• All degree disciplines accepted, but applicants must have a keen interest in the financial markets.
• Available from June 2027 for a duration of 12 months.
• Strong analytical, problem-solving, and interpersonal skills.
• Ability to communicate complex ideas clearly and succinctly.
• Ability to thrive under pressure and in ever-changing situations.

What You Can Expect from Morgan Stanley

At Morgan Stanley, the firm raises, manages, and allocates capital for clients to help them reach their goals. Values such as putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back guide daily decisions for clients, communities, and more than 80,000 employees in 1,200 offices across 42 countries.

You will have the opportunity to work alongside talented teams in an environment where you are supported and empowered. Teams are collaborative and creative, drawing on diverse backgrounds and experiences. Morgan Stanley also offers comprehensive employee benefits and perks, and there is ample opportunity to move about the business for those who show passion and grit in their work.

More information about global offices is available at: https://www.morganstanley.com/about-us/global-offices.

Application Information

It is essential to provide accurate details in the application forms, including an up-to-date CV and cover letter, as Morgan Stanley cannot guarantee you will be able to edit your application after submitting. If you are permitted to edit your application, it may cause significant delays to your candidacy.