Bank Management
Bank Management
Bank Management
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1.3 Commercial <strong>Bank</strong>ing vs. Investment <strong>Bank</strong>ing<br />
1.3.1 Introduction<br />
Definition of Investment <strong>Bank</strong>ing:<br />
Very diffuse business – large variety of services<br />
“Investment Investment <strong>Bank</strong>ing is what investmen t banks do” do<br />
“Goldman Sachs’ Investment <strong>Bank</strong>ing DDivision<br />
identifies, structures and executes<br />
diverse and innovative public and privatte<br />
market transactions for corporations,<br />
financial institutions and governments. Transactions include mergers, acquisitions,<br />
divestitures, the issuance of equity or debt<br />
capital, or a combination of these.”<br />
Definition by y areas of business?<br />
(international) issuance of securities<br />
Special financial services (e. g. structurring<br />
and issuance of derivatives, market<br />
making making…) )<br />
Trading activity in various markets (e. gg.<br />
fixed income, commodity and proprietary<br />
trading, hedging…)<br />
AActivities ti iti in i capital it l markets k t ( (e. g. M&A M&A, corporate t finance, fi IPOs…) IPO )<br />
Prof. Dr. Hans-Peter Burghof, University of Hohenheim, <strong>Bank</strong> <strong>Management</strong><br />
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