Investment Banking Explained An Insider's Guide to the Industry

Author: Michel Fleuriet
Publisher: McGraw Hill
ISBN: 9780071497336
Published In: June 2008
Format: Hardback , 352 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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Understand the inner workings of investment banking

One of the most dynamic sectors of finance today, investment banking involves as much innovation and creativity as it does procedure and protocol. With clients ranging from small-business owners and individual investors to governments and multinational corporations, investment banking has enjoyed unprecedented growth in recent years. Nearly every major business venture and civil project requires the services of an investment bank. As a result, investment banking has become an extraordinarily complex business--even for those who work in it!

In Investment Banking Explained, former Wharton professor of global finance Michel Fleuriet provides a comprehensive overview of this exceedingly complicated sector. He begins with a brief history of the industry, whose roots date back to medieval Europe, then provides an inside look at investment banking in its modern form. He defines key terms, identifies structures and strategies, and offers practical advice for operating in various sectors of the industry. Each investment banking specialty is analyzed in detail, including:

- Client relationship management
- Equity research
- Equity and debt capital markets
- Mergers and acquisitions
- Third-party asset management

Investment Banking Explained probes the operations and strategies of the most successful institutions to illuminate the role of investment banks in the global economy.

No longer functioning strictly as intermediaries between issuers and investors, investment banks are taking on much more risk as they trade in more diverse products and invest their own capital. This thorough analysis provides a wealth of information and insight into the ever-evolving business of investment banking.

1. History of Investment Banking

2. The Businesses of Investment Banking

3. Investment Bank Differentiation

4. The Global Reach

5. The Strategy of Relationship Management

6. Strategies in Trading

7. Strategies in Equity Research

8. Strategies in Equity Offerings

9. Strategies in Fixed Income

10. Mergers and Acquisitions

11. Asset Management

12. Conclusion

Michel Fleuriet, Ph.D., was the Harry W. Reynolds International Adjunct Professor of Finance, Wharton School of Finance, at the University of Pennsylvania. He is currently a professor in Paris University's Masters program in investment banking. Prior to his career in academics, Fleuriet served as chairman of HSBC France, chairman and head of investment banking at Merrill Lynch France, CEO of Chase Manhattan France, and director of M&A at Worms & CIE.