Investment Banking

Saturday, 05 January 2013

What do investment banks actually do? - MoneyWeek Investment Tutorials

Cityboy - Secrets of Investment Bankers exposed (Geraint Anderson)

How much do investment bankers earn? How large can a bonus get?

Goldman Sachs: Trends in Investment Banking with David Solomon

Is the CFA useful for getting into investment banking?

Investment Online. Easy and Intuitive Way to Trade. The Best Stock Trading Platform!

The Intruders crash the Investment Banking Awards in Mayfair

People in Investment Banks are all the same

50 Investment Banking Interview Questions

Open Collage in a new Window

Email the Collage

Loading suggestions ...

City of London
The City of London is an area in central London, England. In the medieval period it constituted most of London, but the conurbation has grown far beyond it. As the City’s boundaries have remained almost unchanged since the Middle Ages, it is now only a tiny part of the metropolis, though it remains a notable part of central London, holds city status in its own right, and is a separate ceremonial county.
It is often referred to as the City (often written on maps as "City") or the Square Mile, as it is just over one square mile (1.12 sq mi/2.90 km²) in area. These terms are also often used as metonyms for the United Kingdom's financial services industry, which continues a notable history of being based in the City.
The term London now refers to a much larger conurbation roughly corresponding to Greater London, a local government area which includes 32 London boroughs including the City of Westminster as well as the City of London. The local authority for the City, the City of London Corporation, is unique in the United Kingdom, and has some unusual responsibilities for a local authority in Britain, such as being the police authority for the City. It also has responsibilities and ownerships beyond the City's boundaries. The Corporation is headed by the Lord Mayor of the City of London, an office separate from (and much older than) the Mayor of London.

wn.com/City_of_London
Credit Suisse
Coordinates: 47°22′11″N 8°32′22″E / 47.369602°N 8.539449°E / 47.369602; 8.539449
The Credit Suisse Group AG (SIX: CSGN, NYSE: CS) is a Swiss multinational financial services company headquartered in Zurich, with more than 250 branches in Switzerland and operations in more than 50 countries.
Credit Suisse was founded by Alfred Escher in 1856 under the name Schweizerische Kreditanstalt (SKA, English: Swiss Credit Institution).
In 1942, it opened its first branch outside of Switzerland, in New York City.
In 1988, it gained a controlling stake in The First Boston Corporation and in 1993, Credit Suisse Group bought Schweizerische Volksbank (English: People's Bank of Switzerland). In 1996 the two retail banks were merged and renamed Credit Suisse.
In 2000, it acquired the investment bank Donaldson, Lufkin & Jenrette (DLJ) and, with it, an e-commerce software portfolio, including DLJ Direct, that it later sold to the Bank of Montreal.
In 2009, Credit Suisse was recognized as "Bank of the Year" by the International Financing Review.

wn.com/Credit_Suisse
Deutsche Bank
Coordinates: 50°6′50″N 8°40′7″E / 50.11389°N 8.66861°E / 50.11389; 8.66861
Deutsche Bank AG (literally "German Bank"; pronounced [ˈdɔʏtʃə ˈbaŋk]) is a global banking and financial services company with its headquarters in the Deutsche Bank Twin Towers in Frankfurt, Hesse, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia-Pacific and the emerging markets. In 2009, Deutsche Bank was the largest foreign exchange dealer in the world with a market share of 21 percent.
Deutsche Bank has offices in major financial centres including London, Madrid, Frankfurt, New York, Paris, Moscow, Amsterdam, Dublin, George Town, Cayman Islands, Toronto, São Paulo, Singapore, Hong Kong, Tokyo, Sydney, Dubai, Riyadh, Mumbai, Bangkok and Belgrade.
The bank offers financial products and services for corporate and institutional clients along with private and business clients. Services include sales, trading, research and origination of debt and equity; mergers and acquisitions (M&A); risk management products, such as derivatives, corporate finance, wealth management, retail banking, fund management, and transaction banking.

wn.com/Deutsche_Bank
Hong Kong
Coordinates: 22°16′42″N 114°09′32″E / 22.27833°N 114.15889°E / 22.27833; 114.15889
Hong Kong (Chinese: 香港) is one of two special administrative regions (SARs) of the People's Republic of China (PRC), the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is known for its expansive skyline and deep natural harbour. With a land mass of 1,104 km² (426 sq mi) and a population of seven million people, Hong Kong is one of the most densely populated areas in the world. Hong Kong's population is 95 percent ethnic Chinese and 5 percent from other groups. Hong Kong's Han Chinese majority originate mainly from the cities of Guangzhou and Taishan in the neighbouring Guangdong province.
Hong Kong became a colony of the British Empire after the First Opium War (1839–42). Originally confined to Hong Kong Island, the colony's boundaries were extended in stages to the Kowloon Peninsula in 1860 and then the New Territories in 1898. It was occupied by Japan during the Pacific War, after which the British resumed control until 1997, when China resumed sovereignty. The region espoused minimum government intervention under the ethos of positive non-interventionism during the colonial era. The time period greatly influenced the current culture of Hong Kong, often described as "East meets West", and the educational system, which used to loosely follow the system in England until reforms implemented in 2009.

wn.com/Hong_Kong
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. The city is referred to as New York City or The City of New York to distinguish it from the State of New York, of which it is a part. As a global power city, New York exerts a significant impact upon commerce, finance, media, art, fashion, research, technology, education, and entertainment. The home of the United Nations Headquarters, New York is an important center for international diplomacy and has been described as the cultural capital of the world.
Located on one of the world's largest natural harbors, New York City consists of five boroughs, each of which comprises a state county. The five boroughs—The Bronx, Brooklyn, Manhattan, Queens, and Staten Island—were consolidated into a single city in 1898. With a Census-estimated 2011 population of 8,244,910 distributed over a land area of just 305 square miles (790 km²), New York is the most densely populated major city in the United States. As many as 800 languages are spoken in New York, making it the most linguistically diverse city in the world. The New York City Metropolitan Area's population is the United States' largest, with 18.9 million people distributed over 6,720 square miles (17,400 km²), and is also part of the most populous combined statistical area in the United States, containing 22.1 million people as of the 2010 Census.

wn.com/New_York_City
Tokyo
Tokyo (東京, Tōkyō^?, "Eastern Capital") [toːkʲoː], English /ˈtoʊki.oʊ/; officially Tokyo Metropolis (東京都, Tōkyō-to^?), is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of the world. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family. Tokyo is in the Kantō region on the southeastern side of the main island Honshu and includes the Izu Islands and Ogasawara Islands. Tokyo Metropolis was formed in 1943 from the merger of the former Tokyo Prefecture (東京府, Tōkyō-fu^?) and the city of Tokyo (東京市, Tōkyō-shi^?).
The Tokyo Metropolitan government administers the 23 special wards of Tokyo (each governed as a city), which cover the area that was the city of Tokyo, as well as 39 municipalities in the western part of the prefecture and the two outlying island chains. The population of the special wards is over 8 million people, with the total population of the prefecture exceeding 13 million. The prefecture is part of the world's most populous metropolitan area with upwards of 35 million people and the world's largest urban agglomeration economy with a GDP of US$1.479 trillion at purchasing power parity in 2008, ahead of New York City metropolitan area, which ranks second on the list. The city hosts 47 of the Fortune Global 500 companies, the highest amount of any city.

wn.com/Tokyo
United Kingdom
The United Kingdom of Great Britain and Northern Ireland (commonly known as the United Kingdom, the UK, or Britain) is a sovereign state located off the north-western coast of continental Europe. The country includes the island of Great Britain, the north-eastern part of the island of Ireland and many smaller islands. Northern Ireland is the only part of the UK that shares a land border with another sovereign state—the Republic of Ireland. Apart from this land border the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel and the Irish Sea.
The United Kingdom is a unitary state governed under a constitutional monarchy and a parliamentary system, with its seat of government in the capital city of London. It is a country in its own right and consists of four countries: England, Northern Ireland, Scotland and Wales. There are three devolved administrations, each with varying powers, based in Belfast, Edinburgh and Cardiff, the capitals of Northern Ireland, Scotland, and Wales. Associated with the UK, but not constitutionally part of it, are three Crown Dependencies. The United Kingdom has fourteen overseas territories. These are remnants of the British Empire which, at its height in 1922, encompassed almost a quarter of the world's land surface and was the largest empire in history. British influence can still be observed in the language, culture and legal systems of many of its former territories.

wn.com/United_Kingdom
United States
The United States of America (commonly abbreviated to the United States, the U.S., the USA, America, and the States) is a federal constitutional republic comprising fifty states and a federal district. The country is situated mostly in central North America, where its forty-eight contiguous states and Washington, D.C., the capital district, lie between the Pacific and Atlantic Oceans, bordered by Canada to the north and Mexico to the south. The state of Alaska is in the northwest of the continent, with Canada to the east and Russia to the west, across the Bering Strait. The state of Hawaii is an archipelago in the mid-Pacific. The country also possesses several territories in the Pacific and Caribbean.
At 3.79 million square miles (9.83 million km²) and with over 312 million people, the United States is the third or fourth largest country by total area, and the third largest by both land area and population. It is one of the world's most ethnically diverse and multicultural nations, the product of large-scale immigration from many countries. The U.S. economy is the world's largest national economy, with an estimated 2011 GDP of $15.1 trillion (22% of nominal global GDP and over 19% of global GDP at purchasing-power parity). Per capita income is the world's sixth-highest.

wn.com/United_States
University of Iowa
The University of Iowa (also known as UI, or simply Iowa) is a public state-supported research university located in Iowa City, Iowa, United States. It is the oldest public university in the state. The university is organized into eleven colleges granting undergraduate, graduate, and professional degrees. UI is categorized as RU/VH Research University (very high research activity) in the Carnegie Classification of Institutions of Higher Education. The university is a group member of the Association of American Universities, the Big Ten Conference, Committee on Institutional Cooperation, and the Universities Research Association. Additionally, UI is considered a Public Ivy according to Howard and Matthew Greene's "The Public Ivies: America's Flagship Public Universities".
The University is home to the University of Iowa Hospitals and Clinics. It is one of the largest university-owned teaching hospitals in the nation. Iowa was the first American institution of higher learning to accept creative work for academic credit, and developed the Master of Fine Arts degree.

wn.com/University_of_Iowa

Bill Clinton
William Jefferson "Bill" Clinton (born William Jefferson Blythe III; August 19, 1946) is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation. Clinton has been described as a New Democrat. Many of his policies have been attributed to a centrist Third Way philosophy of governance.
Born and raised in Arkansas, Clinton became both a student leader and a skilled musician. He is an alumnus of Georgetown University where he was Phi Beta Kappa and earned a Rhodes Scholarship to attend the University of Oxford. He is married to Hillary Rodham Clinton, who has served as the United States Secretary of State since 2009 and was a Senator from New York from 2001 to 2009. Both Clintons received law degrees from Yale Law School, where they met and began dating. As Governor of Arkansas, Clinton overhauled the state's education system, and served as Chair of the National Governors Association.

wn.com/Bill_Clinton
Chuck Grassley
Charles Ernest "Chuck" Grassley (born September 17, 1933) is the senior United States Senator from Iowa, serving since 1981. A member of Republican Party, he previously served in the served in the United States House of Representatives (1975–1981) and the Iowa state legislature (1959–1974). He was chairman of the Senate Finance Committee from January to June 2001 and from January 2003 to December 2006. He is currently the ranking Republican on the Judiciary Committee.
Grassley was born in New Hartford, Iowa, the son of Ruth (née Corwin) and Louis Arthur Grassley, and graduated from the town high school. At Iowa State Teachers College (now the University of Northern Iowa), he earned a B.A. in 1955 and an M.A. in 1956. Also during the 1950s, Grassley farmed and worked in factories, first as a sheet metal shearer and then as an assembly line worker. He studied toward a Ph.D. in political science at the University of Iowa. In 1967-1968 Grassley taught at the now-defunct Charles City College.

wn.com/Chuck_Grassley
Financial Times
The Financial Times (FT) is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world.
Along with FT.com, it has an average daily readership of 2.1 million people worldwide (PwC audited figures, November 2011). FT.com has 4 million registered users and 250,000 digital subscribers, as well as 585,681 paying users. FT Chinese has more than 1.7 million registered users. The Financial Times in print format has an average daily circulation of three hundred and five thousand copies worldwide (the British edition has a daily circulation of eighty eight thousand and a combined Saturday and Sunday, weekend, circulation of one hundred and thirteen thousand copies), as of April 2012.
Founded in 1888 by James Sheridan and Horatio Bottomley, the Financial Times competed with four other finance-oriented newspapers, in 1945 absorbing the last, the Financial News (founded in 1884). The FT specialises in UK and international business and financial news, and is printed as a broadsheet on light salmon paper.

wn.com/Financial_Times
Henry Paulson
Henry Merritt "Hank" Paulson, Jr. (born March 28, 1946) is an American banker who served as the 74th United States Secretary of the Treasury. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.
Paulson was born in Palm Beach, Florida, to Marianna (née Gallauer) and Henry Merritt Paulson, a wholesale jeweler. His recent ancestors immigrated from Norway, Germany, and Canada. He was raised in Barrington Hills, Illinois, as a Christian Scientist. Paulson attained the rank of Eagle Scout in the Boy Scouts of America and is a recipient of the Distinguished Eagle Scout Award.
A star athlete at Barrington High School, Paulson was a champion wrestler and stand-out football player, graduating in 1964. Paulson received his A.B. in English from Dartmouth College in 1968; at Dartmouth he was a member of Phi Beta Kappa and Sigma Alpha Epsilon and he was an All-Ivy, All-East, and honorable mention All American as an offensive lineman.
He met his wife Wendy Judge, a Wellesley College graduate, during his senior year. The couple have two adult children, sports-team owner Henry Merritt Paulson III, more commonly known as Merritt Paulson, and journalist Amanda Paulson. The Paulsons became grandparents in June 2007. They maintain homes in both Barrington Hills and Chicago.

wn.com/Henry_Paulson
Matt Taibbi
Matthew C. "Matt" Taibbi (pronounced /taɪˈiːbi/; born March 2, 1970) is an American author and journalist reporting on politics, media, finance, and sports for Rolling Stone and Men's Journal, often in a polemical style. He has also edited and written for The eXile, the New York Press, and The Beast.
Taibbi grew up in the Boston, Massachusetts suburbs. He attended Concord Academy in Concord, Massachusetts, and Bard College at Annandale-on-Hudson, New York, then spent a year abroad at Saint Petersburg Polytechnical University in Russia. His father is Mike Taibbi, an NBC television reporter.
Taibbi joined Mark Ames in 1997 to co-edit the controversial English-language Moscow-based, bi-weekly free newspaper, The eXile. Of Exile, Taibbi said, "We were out of the reach of American libel law, and we had a situation where we weren’t really accountable to our advertisers. We had total freedom."^{[citation needed]} In the U.S. media, Playboy magazine published pieces on Russia both by Taibbi and by Taibbi and Ames together during this time.

wn.com/Matt_Taibbi
Robert Rubin
Robert Edward Rubin (born August 29, 1938) served as the 70th United States Secretary of the Treasury during both the first and second Clinton administrations. Before his government service, he spent 26 years at Goldman Sachs eventually serving as a member of the Board, and Co-Chairman from 1990-1992. His most prominent post-government role was as Director and Senior Counselor of Citigroup, where he performed ongoing advisory and representational roles for the firm. From November to December 2007, he served temporarily as Chairman of Citigroup and resigned from the company on January 9, 2009. He received more than $126 million in cash and stock during his tenure at Citigroup.
He is currently engaged actively as a founder of The Hamilton Project, an economic policy think tank which produces research and proposals on how to create a growing economy that benefits more Americans. He is Co-Chairman of the Council on Foreign Relations and sits on the board of the Harvard Corporation, Harvard University’s executive board. Mr. Rubin is chairman of the board of the Local Initiatives Support Corporation, the nation’s leading community development support organization, and he serves on the Board of Trustees of Mount Sinai-NYU Health. He also serves as Counselor at Centerview Partners, an investment banking advisory firm based in New York City.

wn.com/Robert_Rubin

What do investment banks actually do? - MoneyWeek Investment Tutorials

Tim Bennett looks at what investment banks actually do, how they operate and how they mana...

published: 04 Apr 2011

author: MoneyWeekVideos

Cityboy - Secrets of Investment Bankers exposed (Geraint Anderson)

Geraint Anderson tells the dirty secrets of how the London City works. For 12 years he wor...

published: 05 Feb 2011

author: metrak

Investment banking

Dr Kathy Walsh from the School of Banking and Finance at the Australian School of Business...

published: 30 Nov 2007

author: UNSW

19. Investment Banks

Financial Markets (2011) (ECON 252) Professor Shiller characterizes investment banking by ...

published: 05 Apr 2012

author: YaleCourses

How much do investment bankers earn? How large can a bonus get?

ToBecomeAnInvestmentBanker.com http @GirlBanker: twitter.com In this video you find out: -...

published: 16 Jul 2012

author: GirlBanker

Goldman Sachs: Trends in Investment Banking with David Solomon

David M. Solomon, co-head of the Investment Banking Division at Goldman Sachs, discusses m...

published: 05 Oct 2012

author: GoldmanSachs

Is the CFA useful for getting into investment banking?

ToBecomeAnInvestmentBanker.com http @GirlBanker: twitter.com In Sep-2006, as a second-year...

published: 08 Jun 2012

author: GirlBanker

Investment Online. Easy and Intuitive Way to Trade. The Best Stock Trading Platform!

CLICK HERE -- a.cedarfinance.com -- Start Making Money Every 60 Seconds Right NOW ! Invest...

published: 30 Oct 2012

author: Kewin Aston

The Intruders crash the Investment Banking Awards in Mayfair

The Investment Banking Awards are the Oscars of the financial world. Dished out for so-cal...

published: 08 Oct 2012

author: WeAreTheIntruders

People in Investment Banks are all the same

Agile minds see the difference. Senior Management and Graduates talk about diversity....

published: 03 Jan 2013

author: DeutscheBankCareers

Investment Banking - Careers advice

Dan Hardyman talk to bright sparks training about becoming an investment bank...

published: 17 Jun 2011

author: Mybrightsparks

50 Investment Banking Interview Questions

insideinvestmentbanking.com - Free Banking Recruiting tutorials If you are looking to laun...

published: 31 Oct 2011

author: BreakIntoBanking

Investment Banking Basics Overview Explained - Part 1

Welcome to Corporate Bridge YouTube Channel. This video clealy explains you about Overview...

published: 24 Mar 2012

author: corporatebridge

Career Advice - Finance and Investment Banking

Rick Sopher, Managing Director of LCF Rothschild Asset Management, shares his advice on ho...

published: 10 Jun 2010

author: InnovateCV

<li class="playlistitemli thumbnail border_color">
        <div class="video_facebook">
            <a href="http://web.archive.org./web/20130105220815/http://www.facebook.com/sharer.php?u=http://wn.com/Investment_Banking&t=<%= title %>" title="Share this video" data-title="Share this video" target="_blank" style="target-name: new; target-new: tab;"></a>
        </div>

photo: AP / Juan Karita

File - Argentina's President Cristina Fernandez, front, gestures during a ceremony honoring Bolivia's Independence heroines in Cochabamba, Bolivia, Wednesday, July 18, 2012.

Argentina reasserts claim over Falklands

Al Jazeera

04 Jan 2013

Argentine President Cristina Fernandez de Kirchner has released a public letter urging the United Kingdom to relinquish its control over the disputed Falkland Islands. ... The veterans delivered a letter addressed to the British Ambassador in Argentina, John Freeman, criticising the British government for refusing to discuss the sovereignty of the islands with the Argentine government ... 508 Source .. Al Jazeera and agencies. Share....(size: 19.6Kb)

photo: WN / Imran Nissar

Youth Brigade of Kashmir carry out a protest demonstration in Srinagar, India, on Monday 24, December 2012. As solidarity with Delhi gang-rape case. The protesters were demanding action against people involved in rape incidents across the country.

Indian gang rape: suspects to appear in court

The Daily Telegraph

03 Jan 2013

A gang of men accused of repeatedly raping a 23-year-old student on a moving bus in New Delhi in a deadly crime that repulsed the nation are to appear in court today for the first time. A British tourist join others in a candlelight vigil to mourn the death of a gang rape victim, in Kolkata, India Photo. AP. 3.52AM GMT 03 Jan 2013 ... Police have ordered a bone test to determine his age and whether he can stand trial in an adult court....(size: 11.3Kb)

photo: US Navy / HMC Josh Ives

U.S. Army Lt. Col. Mark Martin, right, civil affairs team lead for Provincial Reconstruction Team (PRT) Farah, shakes hands and laughs with Mawlawi Guhlam M. Ruhaani, director of Hajj and Endowment, at the conclusion of a key leader engagement in Farah City, Dec. 29, 2012.

US working hard to have support for Afghan reconciliation

Zeenews

03 Jan 2013

Washington. Aiming to get cooperation through dialogue, the US said that it is working hard to create an environment within Afghanistan and also in the region to have support for Afghan-Afghan reconciliation ... Responding to questions, Nuland said the US supports an Afghan-led process of reconciliation ... Saying that Pakistan needs to engage with Afghanistan directly, Nuland said the US supports dialogue between the two ... PTI ... First Published....(size: 2.3Kb)

photo: WN / Bhaskar Mallick

Chatraparishad Supporters participate in a Candel Light to protest against Delhi gang rape case and for reviewing “ Women Protection Law “ in kolkata on Friday 28 December 2012

Friend of Delhi gang-rape victim calls for protests to continue

Newstrack India

05 Jan 2013

Tweet. New Delhi, Jan 5 (ANI). The male friend of the 23-year-old medical student, who was gang-raped and left unclothed and bleeding in the street and later died in hospital two weeks after she was attacked on December 16 on a private bus in New Delhi, has said that things would have gone differently if someone had stopped to help ... "It would have been a very different scenario today, had even one person come to our help that day ... (ANI)....(size: 3.8Kb)

photo: AP / Yadana Htun

Kachin refugees wait for rations by Kachin Independence Army at Je Yang IDP camp, the biggest and closest camp to Laiza, northern Myanmar, Friday, Jan. 4, 2013.

Myanmar Refugees Fearful After Fighting Escalates

The New York Times

04 Jan 2013

LAIZA, Myanmar (AP) — Ethnic Kachins living in makeshift camps in Myanmar described their terror at the army's use of air power during fighting with Kachin rebels seeking more autonomy as the government said Friday that it has exercised maximum restraint. Connect With Us on Twitter. Follow @nytimesworld for international breaking news and headlines. Twitter List. Reporters and Editors ... Are We Becoming Cyborgs?. IHT Magazine ...   ... ....(size: 10.1Kb)

timeline:
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001

China Minsheng Bank to Set Up Investment Bank Unit in Hong Kong

Bloomberg

04 Jan 2013

China Minsheng Banking Corp. (1988), the nation’s first privately owned lender, will open an investment banking arm in Hong Kong, as Chinese banks seek to take advantage of the yuan’s increased use in global trade ... approval, the bank said in a statement to the Shanghai stock exchange today ... (3988) all have an investment banking unit in the city....(size: 1.9Kb)

Banco do Brasil may spin off investment banking unit-report

Reuters

04 Jan 2013

SAO PAULO Jan 4 (Reuters) - State-controlled Banco do Brasil SA, the country's largest bank by assets, wants to expand its investment banking unit, either through a listing or merger with a private sector rival, Valor Econômico newspaper reported. The newspaper quoted a senior executive as saying that while the plan is preliminary, Banco do Brasil aims to form Brazil's largest wholesale and investment bank....(size: 2.1Kb)

First in print: Deutsche Bank planning to expand investment banking services in Jacksonville

The Business Review

03 Jan 2013

Michael Drexler is head of Deutsche Bank’s investment banking and trading in Jacksonville ... 30 edition of the Business Journal features a cover story about Deutsche Bank's plans to expand its investment banking services in Jacksonville. In 2010, the bank brought 10 investment bankers to work out of its back-office support center in Jacksonville — by the end of 2012 it had about 200 and it is planning to further expand its services here....(size: 7.8Kb)

Think-tank calls on the Government to split retail and investment banks to cut fees

The Daily Mail

03 Jan 2013

The Government has been 'too timid', the ......(size: 0.2Kb)

Jonathan Taylor is appointed Member of the Management Committee (EIB - European Investment Bank)

noodls

03 Jan 2013

(Source. EIB - European Investment Bank) Date. 03 January 2013 ... The written procedure inviting the Board of Governors to vote on this proposal was launched on 19 November 2012 ... This noodl was issued by EIB - European Investment Bank and was initially posted at www.eib.org ... (noodl....(size: 1.8Kb)

Why JPMorgan Is The Only Investment Bank To Own In 2013

Seeking Alpha

03 Jan 2013

Another breed of financials, the investment banks, looks a little more interesting to me. After considerable investigation into the matter, I believe the only investment bank to own for 2013 is JPMorgan Chase & Co ... This includes their very well-known Investment Bank segment (IB), and also other segments such as Retail Financial Services (RFS), ......(size: 3.9Kb)

Mesirow Financial Investment Banking Wins The M&A; Advisor 2012 “Deal of the Year Award”

StreetInsider

03 Jan 2013

CHICAGO--(BUSINESS WIRE)-- Mesirow Financial is pleased to announce that our Investment Banking group has been named the winner of the 2012 “Deal of the Year Award” (Between $250mm and $500mm) by The M&A; Advisor for our role as financial advisor to Oliver Products Company (“Oliver Products” or the “Company”) in its sale to Berwind Corporation ... About Mesirow Financial Investment Banking....(size: 4.9Kb)

Rate-rigging scandal could be a threat to bonuses at RBS investment bank and boardroom

The Daily Mail

31 Dec 2012

... of the investment banking division....(size: 0.2Kb)

EIB provides a further EUR 50 million via Piraeus Bank under the Guarantee Fund for Greek SMEs (EIB - European Investment Bank)

noodls

28 Dec 2012

EIB - European Investment Bank) EIB provides a further EUR 50 million via Piraeus Bank under the Guarantee Fund for Greek SMEs. The European Investment Bank (EIB) signed today with Piraeus Bank a EUR 50 million line of credit for small and medium-sized enterprises (SMEs) in the fields of industry, tourism and services in Greece....(size: 2.3Kb)

Banca Intesa and European Investment Bank have signed the Agreement on the New Credit Line (Intesa Sanpaolo SpA)

noodls

28 Dec 2012

Banca Intesa and European Investment Bank have signed the Agreement on the New Credit Line 30 Million Euros for Corporate Segment. Belgrade, 28th December 2012 - Banca Intesa has signed the agreement with the European Investment Bank on the new credit line in the value of 30 million euros, intended for credit financing of business entities....(size: 2.7Kb)

Nick Goodway: Barclays boss must try to argue that investment banking is good for us

The Independent

28 Dec 2012

For once Barclays could have done without the headline that proclaimed it the top bank in terms of UK investment banking revenues in 2012 ... Barclays also enjoyed its biggest slice of the investment bank wallet, at 9.4 per cent – its highest ever share ... Surely no coincidence that all three men came solidly from investment banking backgrounds....(size: 4.8Kb)

Five Wall Street investment banks fined for using bond sale proceeds to pay California lobbyist ...

Sacramento Bee

27 Dec 2012

In a case involving California municipal bonds, five Wall Street investment banks were fined today for using proceeds of bond sales to pay their California lobbyist ... FINRA said the banks improperly used bond proceeds to pay fees to the ......(size: 1.2Kb)

Societe Generale Corporate & Investment Banking joins EurexOTC Clear for Interest Rate Swaps (Deutsche Börse AG)

noodls

27 Dec 2012

Eurex Clearing.One of the largest European banks, Societe GeneraleCorporate & Investment Banking, has become a clearing member of EurexOTC Clear for Interest Rate Swaps (IRS) ... Societe Generale Corporate & Investment Banking is committed to bringing liquidity and support to key IRS OTC Clearing platforms", said Amaury d'Orsay, Global Head of Long Term Rates at Societe Generale Corporate & Investment Banking....(size: 5.4Kb)

timeline:
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001

Banking A series on financial services
File:National Bank Oamaru.jpg
Types of banks Central bank Advising bank · Commercial bank Community development bank Cooperative bank · Credit union Custodian bank · Depository bank Export credit agency Investment bank · Industrial bank Merchant bank · Mutual savings bank National bank · Offshore bank Postal savings system Private bank · Retail Bank Savings and loan association Savings bank · Universal bank more...
Bank accounts Deposit account · Savings account Transactional account Money market account · Time deposit
Bank cards ATM card · Credit card · Debit card
Electronic funds transfer Automated Clearing House Electronic bill payment · Giro Wire transfer · Cheque
Banking terms Loan · Money creation Automatic teller machine Bank regulation · Anonymous banking Islamic banking · Private banking Ethical banking
Finance series Financial market Financial market participants Corporate finance · Personal finance Public finance · Financial regulation
v t e

An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities. An investment bank may also assist companies involved in mergers and acquisitions, and provide ancillary services such as market making, trading of derivatives, fixed income instruments, foreign exchange, commodities, and equity securities.

Unlike commercial banks and retail banks, investment banks do not take deposits. From 1933 (Glass–Steagall Act) until 1999 (Gramm–Leach–Bliley Act), the United States maintained a separation between investment banking and commercial banks. Other industrialized countries, including G8 countries, have historically not maintained such a separation.

There are two main lines of business in investment banking. Trading securities for cash or for other securities (i.e., facilitating transactions, market-making), or the promotion of securities (i.e., underwriting, research, etc.) is the "sell side", while dealing with pension funds, mutual funds, hedge funds, and the investing public (who consume the products and services of the sell-side in order to maximize their return on investment) constitutes the "buy side". Many firms have buy and sell side components.

An investment bank can also be split into private and public functions with a Chinese wall which separates the two to prevent information from crossing. The private areas of the bank deal with private insider information that may not be publicly disclosed, while the public areas such as stock analysis deal with public information.

An advisor who provides investment banking services in the United States must be a licensed broker-dealer and subject to Securities & Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulation.^[1]

1 Organizational structure
- 1.1 Main activities
2 Core investment banking activities
3 Size of industry
- 3.1 Vertical integration
  - 3.1.1 2008 Financial crisis
4 Criticisms
- 4.1 Possible conflicts of interest
- 4.2 Obscurity
5 Top 10 banks
6 External links
7 Further reading
8 See also
9 References

Organizational structure [link]

Main activities [link]

Investment banking is split into front office, middle office, and back office activities. While large service investment banks offer all lines of business, both sell side and buy side, smaller sell side investment firms such as boutique investment banks and small broker-dealers focus on investment banking and sales/trading/research, respectively.

Investment banks offer services to both corporations issuing securities and investors buying securities. For corporations, investment bankers offer information on when and how to place their securities on the open market, an activity very important to an investment bank's reputation. Therefore, investment bankers play a very important role in issuing new security offerings.

Core investment banking activities [link]

Front office [link]

Investment banking (corporate finance) is the traditional aspect of investment banks which also involves helping customers raise funds in capital markets and giving advice on mergers and acquisitions (M&A). This may involve subscribing investors to a security issuance, coordinating with bidders, or negotiating with a merger target. Another term for the investment banking division is corporate finance, and its advisory group is often termed mergers and acquisitions. A pitch book of financial information is generated to market the bank to a potential M&A client; if the pitch is successful, the bank arranges the deal for the client. The investment banking division (IBD) is generally divided into industry coverage and product coverage groups. Industry coverage groups focus on a specific industry, such as healthcare, industrials, or technology, and maintain relationships with corporations within the industry to bring in business for a bank. Product coverage groups focus on financial products, such as mergers and acquisitions, leveraged finance, public finance, asset finance and leasing, structured finance, restructuring, equity, and high-grade debt and generally work and collaborate with industry groups on the more intricate and specialized needs of a client.

Sales and trading: On behalf of the bank and its clients, a large investment bank's primary function is buying and selling products. In market making, traders will buy and sell financial products with the goal of making money on each trade. Sales is the term for the investment bank's sales force, whose primary job is to call on institutional and high-net-worth investors to suggest trading ideas (on a caveat emptor basis) and take orders. Sales desks then communicate their clients' orders to the appropriate trading desks, which can price and execute trades, or structure new products that fit a specific need. Structuring has been a relatively recent activity as derivatives have come into play, with highly technical and numerate employees working on creating complex structured products which typically offer much greater margins and returns than underlying cash securities. In 2010, investment banks came under pressure as a result of selling complex derivatives contracts to local municipalities in Europe and the US.^[2] Strategists advise external as well as internal clients on the strategies that can be adopted in various markets. Ranging from derivatives to specific industries, strategists place companies and industries in a quantitative framework with full consideration of the macroeconomic scene. This strategy often affects the way the firm will operate in the market, the direction it would like to take in terms of its proprietary and flow positions, the suggestions salespersons give to clients, as well as the way structurers create new products. Banks also undertake risk through proprietary trading, performed by a special set of traders who do not interface with clients and through "principal risk"—risk undertaken by a trader after he buys or sells a product to a client and does not hedge his total exposure. Banks seek to maximize profitability for a given amount of risk on their balance sheet. The necessity for numerical ability in sales and trading has created jobs for physics, mathematics and engineering Ph.D.s who act as quantitative analysts.

Research is the division which reviews companies and writes reports about their prospects, often with "buy" or "sell" ratings. While the research division may or may not generate revenue (based on policies at different banks), its resources are used to assist traders in trading, the sales force in suggesting ideas to customers, and investment bankers by covering their clients. Research also serves outside clients with investment advice (such as institutional investors and high net worth individuals) in the hopes that these clients will execute suggested trade ideas through the sales and trading division of the bank, and thereby generate revenue for the firm. There is a potential conflict of interest between the investment bank and its analysis, in that published analysis can affect the bank's profits. Hence in recent years the relationship between investment banking and research has become highly regulated, requiring a Chinese wall between public and private functions.

Other businesses that an investment bank may be involved in [link]

Global transaction banking is the division which provides cash management, custody services, lending, and securities brokerage services to institutions. Prime brokerage with hedge funds has been an especially profitable business, as well as risky, as seen in the "run on the bank" with Bear Stearns in 2008.

Investment management is the professional management of various securities (shares, bonds, etc.) and other assets (e.g., real estate), to meet specified investment goals for the benefit of investors. Investors may be institutions (insurance companies, pension funds, corporations etc.) or private investors (both directly via investment contracts and more commonly via collective investment schemes e.g., mutual funds). The investment management division of an investment bank is generally divided into separate groups, often known as Private Wealth Management and Private Client Services.

Merchant banking can be called "very personal banking"; merchant banks offer capital in exchange for share ownership rather than loans, and offer advice on management and strategy. Merchant banking is also a name used to describe the private equity side of a firm.Merchant Banking: Past and Present Current examples include Defoe Fournier & Cie. and JPMorgan's One Equity Partners and the original J.P. Morgan & Co. Rothschilds, Barings, Warburgs and Morgans were all merchant banks. (Originally, "merchant bank" was the British English term for an investment bank.)

Commercial banking: see commercial bank.

Middle office [link]

Risk management involves analyzing the market and credit risk that traders are taking onto the balance sheet in conducting their daily trades, and setting limits on the amount of capital that they are able to trade in order to prevent "bad" trades having a detrimental effect on a desk overall. Another key Middle Office role is to ensure that the economic risks are captured accurately (as per agreement of commercial terms with the counterparty), correctly (as per standardized booking models in the most appropriate systems) and on time (typically within 30 minutes of trade execution). In recent years the risk of errors has become known as "operational risk" and the assurance Middle Offices provide now includes measures to address this risk. When this assurance is not in place, market and credit risk analysis can be unreliable and open to deliberate manipulation.

Corporate treasury is responsible for an investment bank's funding, capital structure management, and liquidity risk monitoring.

Financial control tracks and analyzes the capital flows of the firm, the Finance division is the principal adviser to senior management on essential areas such as controlling the firm's global risk exposure and the profitability and structure of the firm's various businesses via dedicated trading desk product control teams. In the United States and United Kingdom, a Financial Controller is a senior position, often reporting to the Chief Financial Officer.

Corporate strategy, along with risk, treasury, and controllers, also often falls under the finance division.

Back office [link]

Operations involves data-checking trades that have been conducted, ensuring that they are not erroneous, and transacting the required transfers. Many banks have outsourced operations. It is, however, a critical part of the bank. Due to increased competition in finance related careers, college degrees are now mandatory at most Tier 1 investment banks.^{[citation needed]} A finance degree has proved significant in understanding the depth of the deals and transactions that occur across all the divisions of the bank.

Technology refers to the information technology department. Every major investment bank has considerable amounts of in-house software, created by the technology team, who are also responsible for technical support. Technology has changed considerably in the last few years as more sales and trading desks are using electronic trading. Some trades are initiated by complex algorithms for hedging purposes.

Compliance areas are responsible for an investment bank's daily operations compliance with government regulations and internal regulations. Often also considered a back-office division.

Size of industry [link]

Global investment banking revenue increased for the fifth year running in 2007, to a record US$84.3 billion,^[3] which was up 22% on the previous year and more than double the level in 2003. Subsequent to their exposure to United States sub-prime securities investments, many investment banks have experienced losses since this time.

The United States was the primary source of investment banking income in 2007, with 53% of the total, a proportion which has fallen somewhat during the past decade. Europe (with Middle East and Africa) generated 32% of the total, slightly up on its 30% share a decade ago.^{[citation needed]} Asian countries generated the remaining 15%. Over the past decade, fee income from the US increased by 80%.^{[citation needed]} This compares with a 217% increase in Europe and 250% increase in Asia during this period.^{[citation needed]} The industry is heavily concentrated in a small number of major financial centers, including City of London, New York City, Hong Kong and Tokyo.

Investment banking is one of the most global industries and is hence continuously challenged to respond to new developments and innovation in the global financial markets. New products with higher margins are constantly invented and manufactured by bankers in the hope of winning over clients and developing trading know-how in new markets. However, since these can usually not be patented or copyrighted, they are very often copied quickly by competing banks, pushing down trading margins.

For example, trading bonds and equities for customers is now a commodity business,^{[citation needed]} but structuring and trading derivatives retains higher margins in good times—and the risk of large losses in difficult market conditions, such as the credit crunch that began in 2007. Each over-the-counter contract has to be uniquely structured and could involve complex pay-off and risk profiles. Listed option contracts are traded through major exchanges, such as the CBOE, and are almost as commoditized as general equity securities.

In addition, while many products have been commoditized, an increasing amount of profit within investment banks has come from proprietary trading, where size creates a positive network benefit (since the more trades an investment bank does, the more it knows about the market flow, allowing it to theoretically make better trades and pass on better guidance to clients).

The fastest growing segment of the investment banking industry are private investments into public companies (PIPEs, otherwise known as Regulation D or Regulation S). Such transactions are privately negotiated between companies and accredited investors. These PIPE transactions are non-rule 144A transactions. Large bulge bracket brokerage firms and smaller boutique firms compete in this sector. Special purpose acquisition companies (SPACs) or blank check corporations have been created from this industry.^{[citation needed]}

Vertical integration [link]

In the U.S., the Glass–Steagall Act, initially created in the wake of the Stock Market Crash of 1929, prohibited banks from both accepting deposits and underwriting securities, and led to segregation of investment banks from commercial banks. Glass–Steagall was effectively repealed for many large financial institutions by the Gramm–Leach–Bliley Act in 1999.

Another development in recent years has been the vertical integration of debt securitization. Previously, investment banks had assisted lenders in raising more lending funds and having the ability to offer longer term fixed interest rates by converting lenders' outstanding loans into bonds. For example, a mortgage lender would make a house loan, and then use the investment bank to sell bonds to fund the debt, the money from the sale of the bonds can be used to make new loans, while the lender accepts loan payments and passes the payments on to the bondholders. This process is called securitization. However, lenders have begun to securitize loans themselves, especially in the areas of mortgage loans. Because of this, and because of the fear that this will continue, many investment banks have focused on becoming lenders themselves,^[4] making loans with the goal of securitizing them. In fact, in the areas of commercial mortgages, many investment banks lend at loss leader interest rates^{[citation needed]} in order to make money securitizing the loans, causing them to be a very popular financing option for commercial property investors and developers.^{[citation needed]} Securitized house loans may have exacerbated the subprime mortgage crisis beginning in 2007, by making risky loans less apparent to investors.

2008 Financial crisis [link]

The 2007 credit crisis proved that the business model of the investment bank no longer worked^[5] without the regulation imposed on it by Glass-Steagall. Once Robert Rubin, a former co-chairman of Goldman Sachs became part of the Clinton administration and deregulated banks, the previous conservatism of underwriting established companies and seeking long-term gains was replaced by lower standards and short-term profit.^[6] Formerly, the guidelines said that in order to take a company public, it had to be in business for a minimum of five years and it had to show profitability for three consecutive years. After deregulation, those standards were gone, but small investors did not grasp the full impact of the change.^[6]

Investment banks Bear Stearns, founded in 1923 and Lehman Brothers, over 100 years old, collapsed; Merrill Lynch was acquired by Bank of America, which remained in trouble, as did Goldman Sachs and Morgan Stanley. The ensuing financial crisis of 2008 saw Goldman Sachs and Morgan Stanley "abandon their status as investment banks" by converting themselves into "traditional bank holding companies", thereby making themselves eligible^[5] to receive billions of dollars each in emergency taxpayer-funded assistance.^[6] By making this change, referred to as a technicality, banks would be more tightly regulated.^[5] Initially, banks received part of a $700 billion Troubled Asset Relief Program (TARP) intended to stabilize the economy and thaw the frozen credit markets.^[7] Eventually, taxpayer assistance to banks reached nearly $13 trillion dollars, most without much scrutiny,^[8] lending did not increase^[9] and credit markets remained frozen.^[10]

A number of former Goldman-Sachs top executives, such as Henry Paulson and Ed Liddy moved to high-level positions in government and oversaw the controversial taxpayer-funded bank bailout.^[6] The TARP Oversight Report released by the Congressional Oversight Panel found, however, that the bailout tended to encourage risky behavior and "corrupt[ed] the fundamental tenets of a market economy".^[11]

“	The TARP has all but created an expectation, if not an emerging sense of entitlement, that certain financial and non-financial institutions are simply “too-big-or-too-interconnected-to-fail” and that the government will promptly honor the implicit guarantee issued for the benefit of any such institution that suffers a reversal of fortune. This is the enduring legacy of the TARP. Unfortunately, by offering a strong safety net funded with unlimited taxpayer resources, the government has encouraged potential recipients of such largess to undertake inappropriately risky behavior secure in the conviction that all profits from their endeavors will inure to their benefit and that large losses will fall to the taxpayers. The placement of a government sanctioned thumb-on-the-scales corrupts the fundamental tenets of a market economy – the ability to prosper and the ability to fail.	”
—Congressional Oversight Panel, TARP Oversight Report

Under threat of a subpoena by Senator Chuck Grassley, Goldman Sachs revealed that through TARP bailout of AIG, Goldman received $12.9 billion in taxpayer aid (some through AIG), $4.3 billion of which was then paid out to 32 entities, including many overseas banks, hedge funds and pensions.^[12] The same year it received $10 billion in aid from the government, it also paid out multi-million dollar bonuses to 603 employees and hundreds more received million-dollar bonuses. The total paid in bonuses was $4.82 billion.^[13]^[14]

Morgan Stanley received $10 billion in TARP funds and paid out $4.475 billion in bonuses. Of those, 428 people received more than a million dollars and of those, 189 received more than $2 million.^[15]

Criticisms [link]

Possible conflicts of interest [link]

Conflicts of interest may arise between different parts of a bank, creating the potential for market manipulation. Authorities that regulate investment banking (the FSA in the United Kingdom and the SEC in the United States) require that banks impose a Chinese wall to prevent communication between investment banking on one side and equity research and trading on the other.

Some of the conflicts of interest that can be found in investment banking are listed here:

Historically, equity research firms have been founded and owned by investment banks. One common practice is for equity analysts to initiate coverage of a company in order to develop relationships that lead to highly profitable investment banking business. In the 1990s, many equity researchers allegedly traded positive stock ratings for investment banking business. On the flip side of the coin: companies would threaten to divert investment banking business to competitors unless their stock was rated favorably. Laws were passed to criminalize such acts, and increased pressure from regulators and a series of lawsuits, settlements, and prosecutions curbed this business to a large extent following the 2001 stock market tumble.^{[citation needed]}

Many investment banks also own retail brokerages. Also during the 1990s, some retail brokerages sold consumers securities which did not meet their stated risk profile. This behavior may have led to investment banking business or even sales of surplus shares during a public offering to keep public perception of the stock favorable.

Since investment banks engage heavily in trading for their own account, there is always the temptation for them to engage in some form of front running – the illegal practice whereby a broker executes orders for their own account before filling orders previously submitted by their customers, there benefiting from any changes in prices induced by those orders.

Obscurity [link]

Investment banking has been criticised for being so opaque that it is difficult to know what is going on.^[16]

Top 10 banks [link]

Further information: List of investment banks

The ten largest global investment banks as of December 31, 2010, are as follows (by total fees):^[17]

Rank	Company	Fees ($m)
1.	J.P. Morgan	$5,533.85
2.	Bank of America Merrill Lynch	$4,581.59
3.	Goldman Sachs	$4,386.52
4.	Morgan Stanley	$4,055.48
5.	Credit Suisse	$3,379.12
6.	Deutsche Bank	$3,286.80
7.	Citi	$3,238.67
8.	Barclays Capital	$2,864.44
9.	UBS	$2,614.44
10.	BNP Paribas	$1,433.89

World's biggest banks are ranked for M&A advisory, syndicated loans, equity capital markets and debt capital markets.

For more information on investment banking revenues, please visit Financial Times and Wall Street Journal websites or see Bloomberg M&A and Capital Markets League Tables:

External links [link]

References [link]

^ U.S. Securities and Exchange Commission
^ Rachel Sanderson (October 22, 2010). "UniCredit municipal deal nullified". The Financial Times. http://www.ft.com/cms/s/0/0fb16d54-de18-11df-88cc-00144feabdc0,dwp_uuid=eddfd4e0-4bc3-11da-997b-0000779e2340.html. Retrieved October 23, 2010.
^ BANKING City Business Series
^ Morgan Stanley Real Estate Lending
^ ^a ^b ^c Jagger, Suzy (September 22, 2008). "End of the Wall Street investment bank". The Times (London). http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4800550.ece. Retrieved March 7, 2011.
^ ^a ^b ^c ^d Matt Taibbi, "The Great American Bubble Machine" Rolling Stone magazine (April 5, 2010). Retrieved March 7, 2011
^ Erin Nothwehrm "Emergency Economic Stabilization Act of 2008" University of Iowa (December 2008). Retrieved June 1, 2012
^ "The true cost of the bank bailout" PBS/WNET "Need to Know" (September 3, 2010). Retrieved March 7, 2011
^ Samuel Sherraden, "Banks use TARP funds to boost lending – NOT!" The Washington Note (July 20, 2009). Retrieved March 7, 2011
^ "Fed May Keep Rates Low as Tight Credit Impedes Small Businesses" Bloomberg Businessweek (April 26, 2010). Retrieved March 7, 2011
^ Edward Niedermeyer, "TARP Oversight Report: Bailout Goals Conflict, Moral Hazard Alive And Well" (January 13, 2011). Retrieved March 7, 2011
^ Karen Mracek and Thomas Beaumont, "Goldman reveals where bailout cash went" Des Moines Register (July 26, 2010). Retrieved March 7, 2011
^ Stephen Grocer, "Wall Street Compensation–’No Clear Rhyme or Reason’" The Wall Street Journal Blogs (July 30, 2009). Retrieved March 7, 2011
^ "Goldman Sachs: The Cuomo Report’s Bonus Breakdown" The Wall Street Journal Blogs (July 30, 2009). Retrieved March 7, 2011
^ "Morgan Stanley: The Cuomo Report’s Bonus Breakdown" The Wall Street Journal Blogs (July 30, 2009). Retrieved March 7, 2011
^ William D. Cohan, author of House of Cards: How Wall St. Bankers Broke Capitalism, speaking on BBC Radio 5 Live, Up All Night, 13 April 2011
^ Investment Banking Review, Financial Times, December 31, 2010.

Corporate finance and investment banking

Capital structure

Senior secured debt · Senior debt · Second lien debt · Subordinated debt · Mezzanine debt · Convertible debt · Exchangeable debt · Preferred equity · Warrant · Shareholder loan · Common equity · Pari passu

Transactions
(terms / conditions)

Equity offerings	Initial public offering (IPO) · Secondary market offering (SEO) · Follow-on offering · Rights issue · Private placement · Spin out · Equity carve-out · Greenshoe (Reverse) · Book building · Bookrunner · Underwriter

Mergers and acquisitions	Takeover · Reverse takeover · Tender offer · Proxy fight · Poison pill · Staggered board · Squeeze out · Tag-along right · Drag-along right · Pre-emption right · Control premium · Due diligence · Divestment · Sell side · Buy side · Demerger · Super-majority · Pitch book

Leverage	Leveraged buyout · Leveraged recap · Financial sponsor · Private equity · Bond offering · High-yield debt · DIP financing · Project finance · Debt restructuring

Valuation

Financial modeling · Free cash flow · Business valuation · Fairness opinion · Stock valuation · APV · DCF · Net present value (NPV) · Cost of capital (Weighted average) · Comparable company analysis · Accretion/dilution analysis · Enterprise value · Tax shield · Minority interest · Associate company · EVA · MVA · Residual Income · Terminal value · Real options valuation

List of investment banks ·

List of finance topics

This page contains text from Wikipedia, the Free Encyclopedia - http://en.wikipedia.org/wiki/Investment_banking

This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.

Branches of Mathematics

Pure mathematics

Applied mathematics

Related Topics

Make changes yourself !

Contents

Organizational structure [link]

Main activities [link]

Core investment banking activities [link]

Front office [link]

Other businesses that an investment bank may be involved in [link]

Middle office [link]

Back office [link]

Size of industry [link]

Vertical integration [link]

2008 Financial crisis [link]

Criticisms [link]

Possible conflicts of interest [link]

Obscurity [link]

Top 10 banks [link]

External links [link]

Further reading [link]

See also [link]

References [link]

http://wn.com/Investment_banking

Related pages:

http://it.wn.com/Banca d'investimento

http://id.wn.com/Perbankan investasi

http://es.wn.com/Banca de inversión

http://ru.wn.com/Инвестиционный банк

http://nl.wn.com/Investeringsbank

http://pt.wn.com/Banco de investimento

http://pl.wn.com/Bank inwestycyjny

http://fr.wn.com/Banque d'investissement

http://de.wn.com/Investmentbank

http://hi.wn.com/इनवेस्टमेंट बैंकिंग