What are some of the specific businesses of investment banking?

Businesses are as follows:

1. Securities underwriting. Securities underwriting is the most original and basic business activity of investment banks. The terms of reference of the investment bank's underwriting are very wide, including bonds issued by the country's central government, local governments, government agencies, and stocks and bonds issued by corporations.

2. Securities brokerage transactions. Investment banks play the triple role of market makers, brokers and traders in the secondary market and carry out activities such as risk-free arbitrage and risk arbitrage in the secondary market.

3, private placement of securities. The issuance of securities is divided into two types of public and private issuance, the front of the securities underwriting is actually a public issuance. Private offering, also known as private offering, that is, the issuer does not sell the securities to the public, but only to a limited number of institutional investors, such as insurance companies, **** with the fund.

4, mergers and acquisitions. Mergers and acquisitions have become the most important part of the business of modern investment banks in addition to securities underwriting and brokerage business.

5, project financing. Investment banks in project financing, the main work is: project evaluation, financing program design, drafting of relevant legal documents, relevant credit ratings, securities price determination and underwriting.

6, corporate finance. Corporate finance is actually an investment bank as the customer's financial adviser or business management consultant and provide advice, planning or operation.

Currently there are four main types of investment banks in the world:

Independent investment banks

This form of investment banks in the world widely exists, the United States of America's Goldman Sachs, Merrill Lynch, Morgan Stanley, the first Boston, Japan's Nomura Securities, Yamato Securities, Nikko Securities, Yamanashi Securities, the United Kingdom's Warburg Company, Treasure Source, etc. all belong to this type, and, they all have their own specialties.

Merchant banks

This form of investment banking is mainly commercial banks on the existing investment banks through mergers, acquisitions, shareholdings, or the establishment of their own subsidiaries to engage in the form of merchant banking and investment banking business. This form of investment banking in Britain, Germany and other countries is very typical.

All-round banks

This type of investment bank is mainly found in continental Europe, where they engage in investment banking as well as general merchant banking.

Multinational finance companies

With the onset of the financial crisis in 2008, Merrill Lynch and Lehman fell, while Goldman Sachs and Morgan Stanley transformed themselves into financial holding companies.

Baidu Encyclopedia-Investment Banking