This course reviews the basic structure of an investment bank. It focuses on the basic activities of the different functional areas including sales and trading, corporate finance, compliance etc.

Learning Outcomes:

• Understand the different parts of the investment bank or Investment Banking Division (IBD) and how they interrelated
• The roles of research, sales and trading
• Know key terms like Chinese wall, LIBOR, derivatives, leveraged finance, Financial Sponsors Group (FSG), Financial Institutions Group (FIG)
• Understand the capital structure of companies, the split between debt and equity and how leverage increases returns to equity
• Understand the roles of bonds and Eurobond markets and the purpose of Debt Capital Markets (DCM)
• Understand what convertible bonds are, as well as asset backed securities such as Mortgage Backed Securities (MBS) and Collateralized Debt Obligations (CDO and CDOs)
• Understand equities (stocks or shares) and the work of the Equity Capital Markets (ECM) – in both primary issues (Initial Public Offering or IPO) as a book runner or lead, and in secondary offerings (rights issues)
• Understand mergers and acquisitions.

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