What are the ECM, ED, CMD, and IBD departments or positions in investment banking? What are their responsibilities?

1. ECM=Equity Capital Market Capital Market Department

Provides market analysis for the investment banking department and its clients, and provides professional advice on a variety of financial derivatives for clients' decision-making in the financing process

2. CMD=Capital Market Department Capital Market Department. Called differently

Assisting IBD's securities underwriting business, assessing and controlling underwriting risks, designing the structure of stock or bond offerings, organizing underwriting syndicates, coordinating market promotion roadshows, taking the lead in pricing and placing, as well as managing the project's revenues.

3, IBD = Investment Banking Department Investment Banking Department

Investment Banking Department is mainly engaged in investment banking, which is also known as purse banking. It is the advanced stage of banking development and the top of the food chain. This business is mainly packaged and integrated on the basis of spectrum banking, integrating the bank's traditional products in the form of efficiency or effectiveness. Therefore many become financial derivatives.

4, ED = Executive Director, Executive Director

refers to the smaller limited company in the absence of a board of directors set up in charge of the company's business management of the position, which itself as a director is involved in the operation of the enterprise board of directors at least one of the members of the board of directors to serve as an executive director, has the responsibility to actively carry out the board of directors' functional responsibilities or designated Functional responsibilities.

Investment Banks:

Investment Banks (Investment Banks) is a class of financial institutions corresponding to commercial banks, mainly engaged in securities issuance, underwriting, trading, corporate restructuring, mergers and acquisitions, investment analysis, venture capital, project financing and other businesses of non-banking financial institutions, the main financial intermediary in the capital market.

Expanded:

Investment banks are the main service providers in financial markets.

Investment banks are financial services institutions other than traditional commercial banks, and are distinguished from commercial banks by the lack of segregation of risk;

In the United States, investment banks tend to have two origins: first, they are spun off from integrated banks, with typical examples such as Morgan Stanley, and second, they are developed from stockbrokers, with typical examples such as Merrill Lynch.

Types of investment banks:

1, merchant banks

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

2, all-purpose bank

This type of investment banks mainly in continental Europe, they are engaged in investment banking business at the same time also engaged in general commercial banking.

3, multinational finance companies

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