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Semin Soher Power, Senior Inflation Trader
Banking & Financial Services

Semin Soher Power, Senior Inflation Trader

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What were the main 'career decision' milestones in your life so far?

Semin Soher Power, Senior Inflation Trader

Growing up in Istanbul, I always wanted to know why rents were advertised in US Dollars and why economic crises were happening so often. I was interested in economics and financial markets from a young age because it was affecting my life on a daily basis. For example, when I had to pay a few million Liras every time I was buying a commuter bus ticket in an economy suffering from hyperinflation. A major career milestone was when my former macroeconomics professor mentioned a specialised masters programme in Italy, while I was already working as a portfolio manager in Istanbul.

It was a difficult decision at the time but winning a scholarship for my masters degree and relocating to Italy changed my career path. Working in an international environment in Italy, in Ireland and in Turkey allowed me to build a multinational network.

Who are the people who most influenced your career direction?

Semin Soher Power, Senior Inflation Trader

My grandmother has always been a strong role model for me. She had to raise her two sons by herself, after my grandfather, who was a pilot in the military, died in a plane crash at a young age. She always encouraged me to pursue opportunities and carve my own path

How did you go about getting your current job?

Semin Soher Power, Senior Inflation Trader

My current job was a leap of faith as I switched to the sell side after 18 years on the buy side. It is a challenge to set up a new business line from scratch, but also a learning opportunity. But of course, the first challenge was to convince my new boss and my new company to hire me and provide me with resources to set up inflation trading. Luckily our visions were similar, and I convinced them. I'm happy that we beat our targets three years in a row now.

Describe a typical day?

Semin Soher Power, Senior Inflation Trader

I'm in the office at 7:30 while the Asian market is still open, work throughout European trading hours and the US morning session and leave around 18:30. Every day is different, depending on the market price action, data releases, political events and our client meetings. The themes we follow change from macroeconomics to geopolitics to commodities and lately even epidemiology!

What are the main tasks and responsibilities?

Semin Soher Power, Senior Inflation Trader

I'm a senior trader contributing to the profit targets of the global markets group at Bank of Ireland. I share our views on the financial markets at industry events and the media and also support the hedging activities of our client base.

What are the main challenges?

Semin Soher Power, Senior Inflation Trader

The financial markets always move on to the next theme once the current outlook is priced in, so one always needs to be ahead of the market, keep an eye on potential risks and anticipate how the market would react to them. I guess this explains the long hours on the desk.

What do you like most?

Semin Soher Power, Senior Inflation Trader

I like it that my job is always challenging and never boring. Throughout the economic cycle, change is constant within financial markets. Interacting with our clients, hearing what it is that they are mostly focused on, allows us to tailor our solutions and be relevant.

Currently as economies are recovering from the pandemic, we are hearing more on how to hedge inflation risks, if house prices are reflecting asset price bubbles and on ESG investing. We have the opportunity to offer guidance and use our expertise to support our customers.

Is there anything that isn't great?

Semin Soher Power, Senior Inflation Trader

I don't have the best work-life balance at my current job, but since the pandemic I'm working from home as well as the office and trying to introduce more flexibility around my working hours.

What particular skills do you bring to your workplace?

Semin Soher Power, Senior Inflation Trader

I have a strong work ethic and follow my core values. I also learned to be resilient over the years. Setbacks do happen, one has to recover from them and not take it personal.

What subjects did you take in school and how have these influenced your career path?

Semin Soher Power, Senior Inflation Trader

I enjoyed studying macroeconomics and political science. Still enjoy reading about both, on and off work. But it is not a prerequisite to have a background in economics and finance. Many people in Investments have different backgrounds from physics to engineering, history and arts. We welcome diversity and believe different points of view contribute to a better decision making as a team.

What aspects of your education have proven most important for your job?

Semin Soher Power, Senior Inflation Trader

I highly recommend students to do internships and gain work experience. Working as an intern allowed me to join different teams in different countries and supported my career.

What have been the most rewarding events in your career so far?

Semin Soher Power, Senior Inflation Trader

I am mentoring junior traders since the beginning of the lockdowns. It's been a tough period for new joiners to build their trading skills while working from home. Sharing my views, exchanging ideas and looking at things from a different perspective has been a rewarding experience. I'm planning to continue taking part in mentoring projects.

What personal qualities do you have that helps you in your career?

Semin Soher Power, Senior Inflation Trader

Seeing challenges as learning opportunities, using them to improve your thought process and actions, helps. I also believe in the importance of authenticity, honesty and transparency communicating with colleagues and clients.

Does your job allow you to have a lifestyle you are happy with?

Semin Soher Power, Senior Inflation Trader

Yes, I do my own research, generate trade ideas ahead of the market and have the opportunity to be in contact with policy makers, academics, thought leaders and of course our clients.

What advice would you give to someone considering this job?

Semin Soher Power, Senior Inflation Trader

For people thinking about joining investment banking and asset management industries, do not get put off by the masculine, ego driven representation of it in the media. That representation is far from reality. Trading and investing in financial markets can be stressful and challenging at times but so are most jobs. Be resilient, informed, believe in yourself and don't be afraid to take risks.

What are the three most important personal characteristics required for the job?

Semin Soher Power, Senior Inflation Trader

Being curious, resilient and a good team player.

What is your pet hate at work?

Semin Soher Power, Senior Inflation Trader

Receiving mail sent to Mr Semin Soher Power. People can make some effort and check the gender of the mail recipient, instead of automatically assuming it's a man, when they see a name they don't recognize.

Have you undertaken, or do you plan to undertake any further training as part of your job?

Semin Soher Power, Senior Inflation Trader

Yes, I believe in continuous learning and seeking new challenges. There are always industry events, projects, trainings as well as online education opportunities.

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