A Comprehensive Ground-Floor View of Investment Banking
Everything from key terms to advanced strategies
Investment Banking Explained provides a clear overview of this complex
industry. It covers the history, key terms, structures, and strategies of investment
banking and breaks the business down into its respective specialties--from traders,
brokers, and analysts to relationship managers, hedgers, and retirement
planners--illustrating how each contributes to the industry as a whole.
Written by a high-level investment-banking veteran, this comprehensive
guide examines the operations of the world's most successful firms and their shifting
approach to risk. It then travels to capital markets around the world to explain how
investment banks are forging their international strategies.
Investment Banking Explained is the first step to gaining a clear and complete
understanding of one of the most complicated, rapidly expanding, and critically important
industries in the world today.
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.
Table of Contents
Ch. 1 The Origins of Investment Banking 1
Ch. 2 The History of Some Key Financial Products 19
Ch. 3 The Business of Investment Banks 33
Ch. 4 Charting the Course 57
Ch. 5 The Global Reach 69
Ch. 6 The Strategy of Relationship Management 85
Ch. 7 Trading and Capital Markets Activities 101
Ch. 8 The Strategies in Trading 117
Ch. 9 Equity Research 135
Ch. 10 The Business of Equity Offerings 157
Ch. 11 Strategies in IPOs 173
Ch. 12 Fixed-Income Businesses 191
Ch. 13 Strategies in Fixed Income 209
Ch. 14 Mergers and Acquisitions: Getting the Deal 221
Ch. 15 Synergies in M&A 241
Ch. 16 Getting the Deal Done 265
Ch. 17 The Business of Asset Management 291
Ch. 18 Alternative Investments and the Strategy of Investment Banks 311
Conclusion 329
Bibliography 331
Index 335
352 pages, Hardcover