The Business of Investment Banking: A Comprehensive Overview, 3rd Edition
The investment banking industry has changed dramatically since the 2008 financial crisis. Three of the top five investment banks in the United States have disappeared, while Goldman Sachs and Morgan Stanley have converted to commercial banking charters. This Third Edition of The Business of Investment Banking explains the changes and discusses new opportunities for students and professionals seeking to advance their careers in this intensely competitive field.
The recent financial regulation overhaul, including the Dodd-Frank legislation, is changing what investment banks do and how they do it, while the Volcker rule has shaken up trading desks everywhere.
- This new edition updates investment banking industry shifts in practices, trends, regulations, and statistics
- Includes new chapters on investment banking in BRIC countries, as Brazil, Russia, India, and China now account for a quarter of the global economy
- Explains the shift in the listing of securities away from New York to various financial centers around the world, and how major exchanges compete for the same business
This new edition, reflecting the current state of the investment banking industry, arrives in time to better serve professionals wanting to advance their careers and students just beginning theirs.
Introduction to Investment Banking: How the Financial Crisis and Reforms Changed the Industry 1
New Investment Banking Structure: Financial Holding Companies, Full-Service, and Boutique Investment Banks 9
The Structure of Investment Banks: Divisions and Services 21
Investment Banking Strategies: How They Compete and Profit 37
Employment Opportunities in Investment Banking 49
Venture Capital and Private Equity: Direct Investing in Companies 77
Mergers and Acquisitions 99
Equity Underwriting and IPOs 117
Debt Underwriting: Issuing Bonds 141
Asset Securitization: Turning Income Streams into New Investment Vehicles 173
Listing in New York, London, and Other Markets 195
Trading: Market Making, Arbitrage, and Brokering 213
Repurchase Agreements and Prime Brokerage 237
Derivatives and Financial Engineering: Foreign Exchange, Commodities, and Interest Rates 257
Investment Management for Pension Funds, Endowments, and Wealthy Families 279
Securities Regulation and Ethics: The Dodd-Frank Bill and Other Key Laws 297
The BRICs: Investment Banking in Brazil, Russia, and India 323
The BRICs: Investment Banking in China 339
Investment Banking Trends and Challenges 359
Buy Both and Save 25%!
The Business of Investment Banking: A Comprehensive Overview, 3rd Edition (US $85.00)
-and- The Complete Guide to Portfolio Construction and Management (US $92.00)
Total List Price: US $177.00
Discounted Price: US $132.75 (Save: US $44.25)