投资银行 的分类 及部门 简介 Investment Banks教学文案
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restructuring transactions
• Provide strategic, financial and valuation advisory services
Sales and Trading
• Investment banks
• Provide investing, intermediating, and riskmanagement services to institutional investor clients
• Investment banking • Sales and trading • Asset management
Investment Banking
• Investment bBiblioteka Baidunks
• Help raise capital through the issuance of securities • Advise companies in merger & acquisition and
Security Offerings
• First time debt and equity public issues occur through initial public offerings (IPOs)
• New issues from a firm whose debt or equity is already traded are called seasoned equity offerings (SEOs)
• Offers equity, fixed income, alternative investments, and money market investment products and services to (wealthy) individual and institutional clients
Disadvantage of Going Public
• Must file numerous reports • Operating data must be disclosed • Officers must disclose holdings • Special “deals” to insiders will be more difficult to undertake • A small new issue may not be actively traded, so market-
Financial Markets and Institutions:
Investment Banks and Securities Firms
What is an Investment Bank?
• A financial institution that provides the following financial services
• Act as intermediary between issuers and investors • Provide access to equity and fixed income capital • Create specialized securities and derivatives (e.g.,
• In the primary market, an investment bank serves as an underwriter to help corporations and government issue new securities
• In the secondary market, an investment bank can serve as a broker or dealer
• For alternative investment products, the firm coinvests with clients in hedge fund, private equity and real estate funds
Investment Banking (I)
• Raise capital through the issuance of securities
• Perform research • Participate in nonclient-related investing activities
Asset Management
• Asset Management Division is responsible for managing money for individual and institutional investing clients.
• A private placement is a securities issue that is placed with one or a few large institutional investors
Advantages of Going Public
• Current stockholders can diversify • Liquidity is increased • Easier to raise capital in the future • Going public establishes firm value • Makes it more feasible to use stock as employee incentives • Increase customer recognition
convertibles, trust preferred securities, warrants)
Primary vs. Secondary Markets
• Financial markets can be categorized as those dealing with financial claims that are newly issued, called the primary market, and those for exchanging financial claims previously issued, called the secondary market
• Provide strategic, financial and valuation advisory services
Sales and Trading
• Investment banks
• Provide investing, intermediating, and riskmanagement services to institutional investor clients
• Investment banking • Sales and trading • Asset management
Investment Banking
• Investment bBiblioteka Baidunks
• Help raise capital through the issuance of securities • Advise companies in merger & acquisition and
Security Offerings
• First time debt and equity public issues occur through initial public offerings (IPOs)
• New issues from a firm whose debt or equity is already traded are called seasoned equity offerings (SEOs)
• Offers equity, fixed income, alternative investments, and money market investment products and services to (wealthy) individual and institutional clients
Disadvantage of Going Public
• Must file numerous reports • Operating data must be disclosed • Officers must disclose holdings • Special “deals” to insiders will be more difficult to undertake • A small new issue may not be actively traded, so market-
Financial Markets and Institutions:
Investment Banks and Securities Firms
What is an Investment Bank?
• A financial institution that provides the following financial services
• Act as intermediary between issuers and investors • Provide access to equity and fixed income capital • Create specialized securities and derivatives (e.g.,
• In the primary market, an investment bank serves as an underwriter to help corporations and government issue new securities
• In the secondary market, an investment bank can serve as a broker or dealer
• For alternative investment products, the firm coinvests with clients in hedge fund, private equity and real estate funds
Investment Banking (I)
• Raise capital through the issuance of securities
• Perform research • Participate in nonclient-related investing activities
Asset Management
• Asset Management Division is responsible for managing money for individual and institutional investing clients.
• A private placement is a securities issue that is placed with one or a few large institutional investors
Advantages of Going Public
• Current stockholders can diversify • Liquidity is increased • Easier to raise capital in the future • Going public establishes firm value • Makes it more feasible to use stock as employee incentives • Increase customer recognition
convertibles, trust preferred securities, warrants)
Primary vs. Secondary Markets
• Financial markets can be categorized as those dealing with financial claims that are newly issued, called the primary market, and those for exchanging financial claims previously issued, called the secondary market