Investment banking guide pdf

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An investment bank is typically a private company that provides various financial-related and other services to individuals, corporations, and governments such as raising financial capital by underwriting or acting as the client’s agent in the issuance of securities. Unlike commercial banks and retail banks, investment banks do not take deposits. Bliley Act, the United States maintained a separation between investment banking and commercial banks.

Other industrialized countries, including G7 countries, have historically not maintained such a separation. Volcker Rule asserts some institutional separations of investment banking services from commercial banking. The two main lines of business in investment banking are called the sell side and the buy side. The “buy side” involves the provision of advice to institutions that buy investment services.

Private equity funds, mutual funds, life insurance companies, unit trusts, and hedge funds are the most common types of buy-side entities. An investment bank can also be split into private and public functions with a Chinese wall separating 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 U. In other words, the VOC was officially the first publicly traded company, because it was the first company to be ever actually listed on an official stock exchange.