Vault Career Guide to Investment Banking, Asia Pacific Edition

这几天碰巧看到一个Vault的资料：Vault Career Guide to Investment Banking, Asia Pacific Edition，虽然比较旧一点，但是有些知识还是值得参考一下。

 

把其中有用的摘录出来：

Investment Banking的定义：

What is investment banking? Is it investing? Is it banking? Really, it is neither. Investment banking, or I-banking, as it is often called, is the term used to describe the business of raising capital for companies and advising them on financing and merger alternatives. Capital essentially means money. Companies need cash in order to grow and expand their businesses;investment banks sell securities (debt and equity) to investors in order to raise this cash. These securities can come in the form of stocks, bonds, or loans, which we will discuss in depth later. Once issued, these securities trade in the global financial markets.

 

详细地分，它主要包括以下一些业务：

Corporate Finance(equity & debt), Mergers & Acquisitions (M&A), Equity/Debt Capital Markets, Equity/Fixed Income Sales, Syndicate (equity/debt), Equity/Fixed Income Trading, Equity/Fixed Income Research

 

一般投行都会定期发个email给全体员工，告诉大家这段时间公司都干了什么，从中你就可以很清楚地了解投行在干什么，具体的职责是什么。比如citi today里面就有很多信息。

 

从中还可以了解很多部门具体的组织结构，比如说投行部（corporate finance）、资本市场部和销售交易部如何协调的。投行部一般按行业会分成很多个小组：

FIG (financial institutions and governments), financial sponsors, healthcare, natural resources (oil & gas, metals & mining, power), TMT (technology, media, telecom), real estate, and transportation.

 

large-cap and small-cap

根据股票的市值划分为large-cap（大于50亿美元）, small-cap（<10亿美元）, 和mid-cap（10亿和50亿之间），有的基金经理会关注其投资在这几个区域内的分布。

 

 

loans分类：

There are three general categories of loans: bilateral, club, and syndicated. Bilateral, the traditional loan, refers to a loan between one lender and one company or individual. These loans usually exist  only for small companies and individuals. "Club" refers to loans between a small group of lenders (usually from two to five) and a company. Like bilateral loans, these loans do not undergo a syndication process and do not usually trade in the markets. Finally, there are syndicated loans, which comprise the vast majority of the loan market. These are loans provided by numerous institutions for a single company.