By David Stowell
This description of the symbiotic relationships between funding banks, hedge cash, and personal fairness enterprises indicates scholars how businesses concurrently compete and cooperate. the writer has captured the methods those corporations are reinventing themselves within the post-crash regulatory atmosphere and, via ten vast instances, the ways that they're expanding their strength and influence.
* Emphasizes the wishes for capital, resources of capital, and the method of having capital to those that desire it.
* Integrates into the chapters ten situations approximately fresh transactions, in addition to case notes and questions
* Accompanies situations with spreadsheets for readers to create their very own analytical frameworks and think about offerings and possibilities.
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Additional info for An Introduction to Investment Banks, Hedge Funds, and Private Equity: The New Paradigm
As a result, some client coverage bankers may be assigned to cover clients based on a geographic coverage model rather than through an industry coverage model. Each investment bank attempts to coordinate the activities of industry coverage and geographic coverage bankers in an effort to meet client preferences and achieve operating efficiency for the bank. 1 At some investment banks, these two groups coordinate their activities and report to the same person, who oversees all capital markets transactions.
As a result, a more formal version of investment banking developed to intermediate between firms needing capital and individuals desiring to build wealth. By underwriting securities, investment banks made it possible for many investors to pool their wealth to meet the great capital needs of a growing nation. Industrial growth created a new class of wealthy industrialists and bankers who helped finance their empires. During this period, investment bankers operated in a regulatory vacuum and were largely free to respond as they saw fit to changing market forces.
As is the case in FICC, individuals who work in the clientrelated area of Equities are either traders or sales professionals. Investment banks typically have a Prime Brokerage business that provides bundled services such as securities borrowing and lending, financing (to facilitate leverage), asset custody, and clearing and settlement of trades to hedge fund clients and other money managers. Prime brokers provide fund managers with a centralized location for the clearing of securities, reporting, and financing, while also allowing them to trade with other brokers.
An Introduction to Investment Banks, Hedge Funds, and Private Equity: The New Paradigm by David Stowell