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 to public investors in order to raise this cash. These securities can come in the form of stocks or bonds, which we will discuss in depth later.
ABOUT THE AUTHOR(S)
is a professor at the University of Sussex, UK. He is author of numerous books and articles on investment banking, the international financial system and international financial centres, especially London.
Tom Lott, born in Dallas, Texas, graduated from Vanderbilt University in 1993. He started in the investment banking business upon graduation, joining Raymond James & Associates, an investment bank in St. Petersburg, Florida. His work experience includes a
brief stint in research and four years in corporate finance. He obtained his MBA from the J.L. Kellogg Graduate School of Management (Northwestern), where he served as chairman of the investments club. He now works in fixed income trading at Merrill Lynch
in New York City.
Derek Loosvelt is a graduate of the Wharton School at the University of Pennsylvania. He’s a Brooklyn-based writer and editor and has worked for Brill’s Content and Inside.com. Previously, he worked in investment banking at CIBC and Duff & Phelps.
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