by Girl Banker
Listen to the iTunes podcast instead.
This is a possible investment banking interview question.
Many investment banks are composed of two key divisions:
1. Corporate Finance. Frequently referred to as the (Classic) Investment Banking Division or simply (Classic) IBD in many banks.
2. Debt and Equity Capital Markets. This frequently includes Sales, Trading and Research functions.
Many investment banks now also have large asset management divisions including private wealth management; however, this book focuses only on corporate finance and capital markets.
The term ‘investment banking’ is sometimes used as a catch-all phrase for both corporate finance and the capital markets (sales and trading jobs) i.e. in referring to the industry as a whole or it could refer to the corporate finance division within an investment bank.
This is the quick answer. You can expand upon it by adding:
Investment Banking 101
What is corporate finance or the investment banking division (IBD)?
What are the capital markets/what is sales and trading?
What is the difference between an investment bank and a commercial bank?
I created my investment banking blog in 2012 as soon as I resigned from i-banking & published my book, To Become An Investment Banker.
Initially published at girlbanker.com, all posts were later subsumed into my personal website under katsonga.com/GirlBanker.
With 7 years of front office i-banking experience from Goldman Sachs and HSBC, in both classic IBD (corporate finance) and Derivatives (DCM / FICC), the aim of GirlBanker.com was to make it as straight-forward as possible to get into a top tier investment bank.
I'm also a CFA survivor having passed all three levels on the first attempt within 18 months - the shortest time possible.