Investment banking

investment bankinvestment bankerinvestment banksinvestment bankersinvestmentinvestment firmsbankerback office systemsBankingbanks
An investment bank is a financial services company or corporate division that engages in advisory-based financial transactions on behalf of individuals, corporations, and governments.wikipedia
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Financial capital

capitalfinance capitalfinancial
Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of securities.
Financial capital is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services to the sector of the economy upon which their operation is based, i.e. retail, corporate, investment banking, etc.

Corporate finance

financial managementbusiness financefinance
Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of securities.
The terms corporate finance and corporate financier are also associated with investment banking.

Prime brokerage

prime brokerbrokerage networkprime brokers
Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses.
Prime brokerage is the generic name for a bundled package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.

Underwriting

underwriterunderwritersunderwrite
Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of securities.
Securities underwriting is the process by which investment banks raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt capital).

Boutique investment bank

boutique marketBoutique Investment Banks
As an industry it is broken up into the Bulge Bracket (upper tier), Middle Market (mid-level businesses), and boutique market (specialized businesses).
A boutique investment bank is a non-full service investment bank that specializes in at least one aspect of investment banking, generally corporate finance, although some banks are retail in nature, such as Charles Schwab or Allen & Co.

Commercial bank

corporate bankingcommercial bankingcommercial banks
Unlike commercial banks and retail banks, investment banks do not take deposits.
It can also refer to a bank, or a division of a large bank, which deals with corporations or large/middle-sized business to differentiate it from a retail bank and an investment bank.

Gramm–Leach–Bliley Act

GLBAGramm-Leach-Bliley Act1999 repeal
From the passage of Glass–Steagall Act in 1933 until its repeal in 1999 by the Gramm–Leach–Bliley Act, the United States maintained a separation between investment banking and commercial banks.
It repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company.

Glass–Steagall legislation

Glass-Steagall ActGlass-SteagallGlass–Steagall Act
From the passage of Glass–Steagall Act in 1933 until its repeal in 1999 by the Gramm–Leach–Bliley Act, the United States maintained a separation between investment banking and commercial banks.
The Glass–Steagall legislation describes four provisions of the U.S.A Banking Act of 1933 separating commercial and investment banking.

Buy side

buy-sidebuy-sidesbuyside
The "buy side" involves the provision of advice to institutions that buy investment services.
Buy-side is a term used in investment firms to refer to advising institutions concerned with buying investment services.

Security (finance)

securitiessecuritydebt securities
Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of securities.
Important institutional investors include investment banks, insurance companies, pension funds and other managed funds.

Initial public offering

IPOwent publicpublic
Investment banking has changed over the years, beginning as a partnership firm focused on underwriting security issuance, i.e. initial public offerings (IPOs) and secondary market offerings, brokerage, and mergers and acquisitions, and evolving into a "full-service" range including securities research, proprietary trading, and investment management.
Initial public offering (IPO) or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors; an IPO is underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges.

Goldman Sachs

Goldman, Sachs & Co.Goldman Sachs InternationalGoldman Sachs Group
In the 21st century, the SEC filings of the major independent investment banks such as Goldman Sachs and Morgan Stanley reflect three product segments: (1) investment banking (mergers and acquisitions, advisory services and securities underwriting), (2) asset management (sponsored investment funds), and (3) trading and principal investments (broker-dealer activities, including proprietary trading ("dealer" transactions) and brokerage trading ("broker" transactions)).
The Goldman Sachs Group, Inc., is an American multinational investment bank and financial services company headquartered in New York City, and also offers services in investment management, securities, asset management, prime brokerage, and securities underwriting.

Morgan Stanley

Morgan Stanley & Co.Morgan Stanley Dean WitterMorgan Stanley & Co
In the 21st century, the SEC filings of the major independent investment banks such as Goldman Sachs and Morgan Stanley reflect three product segments: (1) investment banking (mergers and acquisitions, advisory services and securities underwriting), (2) asset management (sponsored investment funds), and (3) trading and principal investments (broker-dealer activities, including proprietary trading ("dealer" transactions) and brokerage trading ("broker" transactions)).
Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in the Morgan Stanley Building, Midtown Manhattan, New York City.

JPMorgan Chase

JP MorganJPMorganJ.P. Morgan
Notable large banks with significant investment banks include JPMorgan Chase, Bank of America, Citigroup, Credit Suisse, Deutsche Bank, UBS, and Barclays.
J.P. Morgan Chase & Co. is an American multinational investment bank and financial services company headquartered in New York City.

Broker-dealer

broker-dealersbroker dealerdealers
An advisor who provides investment banking services in the United States must be a licensed broker-dealer and subject to U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulation.
Although many broker-dealers are "independent" firms solely involved in broker-dealer services, many others are business units or subsidiaries of commercial banks, investment banks or investment companies.

Bank of America

BankAmericaBank of America Corp.Bank of America Corporation
Notable large banks with significant investment banks include JPMorgan Chase, Bank of America, Citigroup, Credit Suisse, Deutsche Bank, UBS, and Barclays.
The Bank of America Corporation (abbreviated as BofA) is an American multinational investment bank and financial services company based in Charlotte, North Carolina with central hubs in New York City, London, Hong Kong, Minneapolis, and Toronto.

Citigroup

CitiCiticorpCitiFinancial
Notable large banks with significant investment banks include JPMorgan Chase, Bank of America, Citigroup, Credit Suisse, Deutsche Bank, UBS, and Barclays.
Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York City.

Retail banking

consumer bankingRetailretail bank
Unlike commercial banks and retail banks, investment banks do not take deposits.
Retail banking is also distinguished from investment banking or commercial banking.

Credit Suisse

Credit Suisse Group AGCredit Suisse First BostonSchweizerische Kreditanstalt
Notable large banks with significant investment banks include JPMorgan Chase, Bank of America, Citigroup, Credit Suisse, Deutsche Bank, UBS, and Barclays.
Credit Suisse Group AG is a Swiss multinational investment bank and financial services company founded and based in Switzerland.

Deutsche Bank

Deutsche Bank AGDeutscheDB Capital Partners
Notable large banks with significant investment banks include JPMorgan Chase, Bank of America, Citigroup, Credit Suisse, Deutsche Bank, UBS, and Barclays.
Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany.

UBS

UBS AGUBS Investment BankUBS Group AG
Notable large banks with significant investment banks include JPMorgan Chase, Bank of America, Citigroup, Credit Suisse, Deutsche Bank, UBS, and Barclays.
UBS Group AG is a Swiss multinational investment bank and financial services company founded and based in Switzerland.

Universal bank

universal bankingfull-service
The repeal led to more "universal banks" offering an even greater range of services.
A universal bank participates in many kinds of banking activities and is both a commercial bank and an investment bank as well as providing other financial services such as insurance.

Barclays

Barclays BankBarclays plcBarclays Bank Plc
Notable large banks with significant investment banks include JPMorgan Chase, Bank of America, Citigroup, Credit Suisse, Deutsche Bank, UBS, and Barclays.
Barclays plc is a British multinational investment bank and financial services company headquartered in London.

Foreign exchange market

foreign exchangeforexcurrency exchange
An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, and FICC services (fixed income instruments, currencies, and commodities).
At the top is the interbank foreign exchange market, which is made up of the largest commercial banks and securities dealers.

Chinese wall

Chinese wallsclean teamsethical walls
An investment bank can also be split into private and public functions with a Chinese wall separating the two to prevent information from crossing.
A Chinese wall is most commonly employed in investment banks, between the corporate-advisory area and the brokering department in order to separate those giving corporate advice on takeovers from those advising clients about buying shares.