UNIT-2

1. What is the Role of Investment Banks? State the different types of

investment banks.

 What is the Role of Investment Banks

The role of an investment bank encompasses a range of financial
services and activities related to capital markets, mergers and
acquisitions, and corporate finance. Here are the key roles and functions
typically associated with investment banks:

I. Capital Raising: Investment banks assist corporations,

governments, and other entities in raising capital. They provide
advice on the most appropriate methods of raising funds, such as
issuing stocks, bonds, or other securities. Investment banks help
structure and underwrite these offerings, ensuring that they
comply with regulatory requirements and attract investors.

II. Underwriting Securities: Investment banks act as underwriters

for securities offerings. They purchase securities from the issuer
and then sell them to investors. By assuming the risk associated
with selling the securities, investment banks provide liquidity to
the market and enable issuers to access capital.

III. Mergers and Acquisitions (M&A): Investment banks play a

crucial role in M&A transactions. They advise clients on strategic
alternatives, evaluate potential targets or acquirers, and facilitate
negotiations. Investment banks provide financial and valuation
analyses, assist in due diligence, structure the transaction, and
help with financing options.

IV. Advisory Services: Investment banks offer strategic advisory

services to clients. This may involve advising on matters such as
corporate restructuring, divestitures, joint ventures, and capital
structure optimization. Investment banks provide expert guidance
on complex financial transactions and help clients make informed
decisions to maximize value.
 V. Sales and Trading: Investment banks engage in sales and trading
activities, facilitating the buying and selling of securities in the
secondary market. They act as intermediaries between buyers and
sellers, executing trades and providing liquidity. Investment banks
may also engage in proprietary trading, where they use their own
funds to trade securities.

VI. Research and Analysis: Investment banks employ research

analysts who provide in-depth analysis and insights into various
sectors, industries, and companies. They produce research reports,
financial models, and investment recommendations for
institutional clients and investors. This research helps clients make
informed investment decisions.

VII. Risk Management: Investment banks assist clients in managing

various financial risks. They offer hedging strategies, derivatives
products, and risk management solutions to help clients mitigate
exposures to interest rate, currency, commodity, and other market
risks.

VIII. Asset Management: Some investment banks have asset

management divisions that manage investment portfolios on
behalf of institutional and individual clients. They offer investment
products, portfolio management services, and financial planning
solutions.

IX. Corporate Finance Advisory: Investment banks provide

corporate finance advisory services to clients. This may involve
capital structure planning, financial restructuring, debt
refinancing, and optimizing capital allocation.

X. Market Making and Liquidity Provision: Investment banks act

as market makers, providing continuous buy and sell quotes for
securities. They enhance market liquidity and facilitate trading by
ensuring that there are always buyers and sellers available.
Overall, investment banks serve as intermediaries between issuers and
investors, providing a wide range of financial services including capital
raising, underwriting securities, M&A advisory, sales and trading,
research and analysis, risk management, asset management, and
corporate finance advisory. Their expertise and services contribute to
the functioning and efficiency of financial markets and facilitate capital
flows in the global economy.

 State the different types of investment banks.

Investment banks can be categorized into different types based on their
primary areas of focus and the nature of their operations. Here are the
main types of investment banks:

I. Bulge Bracket Investment Banks: These are large, globally

recognized investment banks that typically have a significant
presence in major financial centers. They offer a wide range of
financial services, including mergers and acquisitions (M&A)
advisory, underwriting securities offerings, sales and trading, and
research. Bulge bracket banks often have extensive global
networks and serve large corporations, governments, institutional
investors, and high-net-worth individuals.

II. Boutique Investment Banks: Boutique investment banks are

smaller firms that specialize in specific areas of investment
banking. They focus on niche sectors, industries, or specific types
of financial transactions. Boutique banks may specialize in M&A
advisory, capital raising, restructuring, or providing specialized
financial services to a particular industry. These firms offer
personalized service and often work with clients who require
specialized expertise.

III. Regional Investment Banks: Regional investment banks operate

in specific geographic regions or countries. They provide
investment banking services on a local or regional scale, serving
businesses, governments, and investors within their designated
market. Regional investment banks may offer services such as
 M&A advisory, capital raising, corporate finance, and securities
trading within their respective regions.

IV. Universal Banks: Universal banks are financial institutions that

provide a broad range of banking services, including investment
banking, commercial banking, and retail banking. These banks
have integrated operations and offer services across various
financial sectors. Universal banks have the advantage of providing
comprehensive financial solutions to clients, combining
investment banking expertise with other banking services.

V. Private Equity and Venture Capital Firms: While not strictly

classified as investment banks, private equity and venture capital
firms play a significant role in the investment banking landscape.
These firms invest in private companies, provide capital for
expansion or acquisitions, and actively participate in the
management and growth of their portfolio companies. They often
work alongside investment banks in financing transactions and
M&A deals.

2. How is investment bank different from commercial bank? What

kind of financial advisory services do investment banks provide?

 How is investment bank different from commercial bank

Investment banks and commercial banks in India have distinct roles, functions,
and regulatory frameworks. Here are the key differences between investment
banks and commercial banks:

I. Primary Focus: Investment banks primarily focus on providing financial

services related to capital markets, mergers and acquisitions, and
corporate finance. They assist clients with activities such as underwriting
securities, M&A advisory, sales and trading, and research. Investment
banks specialize in serving corporations, institutional investors, and
high-net-worth individuals.
 On the other hand, commercial banks focus on traditional banking
activities such as deposit-taking, lending, and providing various banking
services to individuals, businesses, and governments. They offer services
like savings accounts, checking accounts, loans, mortgages, and
payment processing. Commercial banks cater to a wide range of
customers and engage in retail banking and commercial banking
activities.

II. Capital Markets Orientation: Investment banks have a strong presence

in the capital markets and operate in sectors such as securities trading,
initial public offerings (IPOs), bond issuance, and equity research. They
assist companies in raising capital from the market and facilitate the
trading and liquidity of securities.

Commercial banks, while they may have investment banking divisions,

typically focus more on traditional lending and deposit-taking activities.
They serve as intermediaries between depositors and borrowers,
providing loans and other banking services to individuals, businesses,
and governments.

III. Risk Profiles: Investment banks tend to have a higher risk profile
compared to commercial banks. Investment banking activities are often
associated with market volatility, uncertainties in capital markets, and
fluctuations in the value of securities. Investment banks take on risks
related to underwriting securities, market-making activities, and
proprietary trading.

Commercial banks, while they also face risks, focus on managing credit
risk, interest rate risk, and operational risk associated with traditional
banking activities. Their lending activities involve assessing the
creditworthiness of borrowers and managing loan portfolios.

IV. Regulatory Framework: Investment banks in India are regulated by the

Securities and Exchange Board of India (SEBI), which governs the capital
 markets and securities-related activities. They must adhere to SEBI
regulations and guidelines pertaining to issues like public offerings,
trading, and investment advisory services.

Commercial banks in India are regulated by the Reserve Bank of India

(RBI), which is responsible for maintaining financial stability, managing
monetary policy, and overseeing the banking system. They must comply
with RBI regulations and guidelines related to capital adequacy,
prudential norms, and consumer protection.

V. Segregation of Activities: In India, there is a regulatory separation

between commercial banking and investment banking activities.
Commercial banks are not allowed to engage in certain investment
banking activities, such as underwriting and securities trading, without
obtaining specific permissions from the RBI. This separation is intended
to minimize conflicts of interest and ensure the safety and stability of
the banking system.

It's important to note that some banks in India operate as universal

banks, combining both commercial banking and investment banking
activities. However, the regulations and oversight for these banks are
designed to ensure appropriate risk management and prevent undue
concentration of risk.

Overall, investment banks and commercial banks in India have different

areas of focus, risk profiles, regulatory frameworks, and customer bases.
While investment banks specialize in capital markets and corporate
finance, commercial banks focus on traditional banking services for
individuals, businesses, and governments.

 What kind of financial advisory services do investment banks

provide

Investment banks provide a wide range of financial advisory services to clients

across various sectors. These services are designed to assist clients in making
informed financial decisions, executing transactions, and achieving their
strategic objectives. Here are some of the key financial advisory services
offered by investment banks:

I. Mergers and Acquisitions (M&A) Advisory: Investment banks play a

crucial role in advising clients on mergers, acquisitions, and other
corporate transactions. They provide strategic advice on deal structures,
valuation, negotiation tactics, and regulatory considerations. Investment
banks conduct financial due diligence, prepare transaction documents,
and facilitate the transaction process from start to finish.

II. Capital Raising and Financing: Investment banks assist clients in

raising capital through equity and debt financing. They provide
guidance on capital structure optimization, determine the appropriate
financing instruments, and help clients access capital markets.
Investment banks may underwrite initial public offerings (IPOs), follow-
on offerings, private placements, or debt issuances to raise funds for
their clients.

III. Restructuring and Recapitalization: Investment banks offer advisory

services to clients undergoing financial restructuring or recapitalization.
They assist in identifying and implementing strategies to improve
financial performance, reorganize debt, negotiate with creditors, and
optimize capital allocation. Investment banks provide expertise in
managing complex financial situations and guiding clients through
challenging times.

IV. Strategic Advisory: Investment banks provide strategic advice to clients

on a range of matters, including market entry strategies, growth
initiatives, and business expansion plans. They conduct industry and
market analyses, assess competitive landscapes, and develop strategic
plans aligned with clients' objectives. Investment banks offer insights
and recommendations to help clients make informed decisions.
 V. Divestitures and Asset Sales: Investment banks assist clients in
divesting non-core assets or businesses. They provide valuation analysis,
identify potential buyers, structure the divestiture process, and negotiate
sale agreements. Investment banks help clients maximize value through
strategic divestitures and optimize their portfolio of assets.

VI. Project Finance Advisory: Investment banks offer advisory services for
project finance transactions. They provide guidance on financing large
infrastructure projects, energy projects, and other capital-intensive
initiatives. Investment banks assess project feasibility, structure financing
options, and help clients secure project financing from investors or
lenders.

VII. Risk Management and Derivatives Advisory: Investment banks

provide risk management solutions and advisory services related to
derivatives. They assist clients in identifying and mitigating financial
risks, such as interest rate risk, currency risk, commodity price risk, and
credit risk. Investment banks offer hedging strategies, derivative
products, and risk management tools tailored to clients' specific needs.

VIII. Industry and Sector Research: Investment banks conduct research and
analysis on various industries and sectors. They generate industry
reports, market outlooks, and sector-specific insights to assist clients in
making investment decisions. Investment banks provide up-to-date
information on market trends, competitive dynamics, and emerging
opportunities.

These are just some of the financial advisory services offered by

investment banks. The scope and depth of services may vary depending
on the specific needs of clients and the expertise of the investment
bank. Investment banks play a crucial role in providing strategic financial
advice, facilitating transactions, and supporting clients in achieving their
financial and strategic goals.
 3. What is Investment Banking? Make an elaborate discussion on the
structure of Investment Banking and its Various functions in the
market Scenario.
 What is Investment Banking

Investment banking is a specialized segment of the banking industry

that focuses on providing financial advisory services, capital raising, and
other financial solutions to corporations, governments, institutional
clients, and high-net-worth individuals. Investment banks act as
intermediaries between issuers of securities and investors, facilitating
various financial transactions and providing expertise in complex
financial matters.

One of the key functions of investment banking is capital raising.

Investment banks help companies and governments raise funds by
issuing securities such as stocks, bonds, or other financial instruments.
They provide advice on the optimal structure, pricing, and timing of the
offerings, and underwrite the securities to ensure their successful sale to
investors.

 Make an elaborate discussion on the structure of Investment

Banking

The structure of an investment bank typically consists of various divisions, each

with its own functions and responsibilities. While the specific structure can vary
between institutions, here is a common framework for the structure of an
investment bank:

1. Front Office:

The front office is the client-facing division and is responsible for generating
revenue and executing transactions. It includes the following departments:

a. Investment Banking Division (IBD): This division provides advisory

services for capital raising, mergers and acquisitions (M&A), and corporate
finance. It includes departments such as M&A advisory, equity capital markets
(ECM), debt capital markets (DCM), and industry-specific groups.
b. Sales and Trading: This division facilitates the buying and selling of
financial securities. It is further divided into sales and trading desks based on
asset classes such as equities, fixed income, commodities, currencies, and
derivatives. Sales professionals build relationships with institutional clients and
provide investment advice, while traders execute trades on behalf of clients or
the bank itself.

c. Research: The research division conducts in-depth analysis and produces

research reports on companies, industries, and market trends. Research
analysts provide insights, investment recommendations, and market analysis
to clients and internal teams. Their research supports decision-making in
investment banking transactions and informs clients' investment strategies.

2. Middle Office:

The middle office functions as a support division that oversees risk

management, compliance, and trade support. It includes the following
departments:

a. Risk Management: This department is responsible for identifying,

measuring, and managing risks associated with the bank's activities. It
monitors market risk, credit risk, operational risk, and other forms of risk. Risk
management professionals develop risk models, establish risk limits, and
implement risk mitigation strategies.

b. Compliance: The compliance department ensures that the bank adheres to

regulatory requirements and internal policies. It monitors and manages
regulatory compliance, assesses potential risks, and implements procedures to
prevent violations.

c. Trade Support: The trade support team provides operational support for
trades executed by the front office. They handle trade confirmation,
settlement, clearance, and reconciliation of trades, ensuring smooth and
accurate processing of transactions.

3. Back Office:

The back office is responsible for the administrative and operational functions
of the bank. It includes the following departments:

a. Operations: The operations department handles trade processing,

documentation, and reconciliation. It ensures that trades are settled accurately
and efficiently. This department also manages the infrastructure and systems
that support trade operations.

b. Technology: The technology department develops and maintains the

bank's information technology systems. It supports trading platforms, risk
management systems, client relationship management, and other technology
infrastructure.

c. Finance and Accounting: The finance department manages financial

reporting, budgeting, financial analysis, and treasury operations. It ensures
compliance with accounting standards and regulations, manages financial
resources, and provides financial insights to support decision-making.

d. Human Resources: The human resources department handles recruitment,

employee relations, training and development, compensation, and benefits. It
supports talent management, organizational development, and ensures
compliance with employment laws and regulations.

While this structure provides a general overview, the specific structure and
division names may vary between investment banks. Some banks may also
have additional divisions or departments depending on their business model,
geographical focus, and client base.
Functions of Investment Banking in Market Scenario

Investment banks perform various functions within the market scenario. Their
activities are crucial to the efficient functioning of financial markets and the
facilitation of economic growth. Here are the key functions of investment
banks in the market scenario:

I. Capital Raising:
Investment banks assist companies, governments, and other entities in
raising capital through various means. They provide expertise in
structuring, pricing, and executing capital raising activities. Investment
banks help clients issue securities such as stocks, bonds, and other
financial instruments to access funding from the market. They advise on
the optimal timing, structure the offerings, and underwrite the
securities, ensuring their successful sale to investors.

II. Mergers and Acquisitions (M&A) Advisory:

Investment banks play a significant role in advising clients on mergers,
acquisitions, divestitures, and other strategic transactions. They provide
financial and strategic advice throughout the M&A process. Investment
banks assist in identifying potential targets or acquirers, conducting due
diligence, valuing assets, and negotiating and structuring deals. They
help clients maximize value, achieve synergies, and navigate regulatory
and legal complexities associated with M&A transactions.

III. Corporate Finance Advisory:

Investment banks offer strategic financial advice to corporations,
governments, and other entities. They provide guidance on capital
structure optimization, financial restructuring, and other financial
decisions. Investment banks analyze market conditions, industry trends,
and financial data to help clients make informed choices about their
financial strategy, funding requirements, and long-term goals. They
assist clients in assessing strategic alternatives, evaluating investment
opportunities, and formulating capital allocation strategies.
 IV. Sales and Trading:
Investment banks engage in sales and trading activities, facilitating the
buying and selling of financial securities in the secondary market. They
act as intermediaries between buyers and sellers, executing trades and
providing liquidity. Investment banks operate trading desks that buy and
sell securities on behalf of clients or for their own account. They provide
market access, market-making services, and liquidity to the market
participants, contributing to the efficient functioning of the financial
markets.

V. Research and Analysis:

Investment banks have dedicated research departments that conduct
analysis, generate insights, and provide investment recommendations to
clients. Research analysts analyze companies, industries, and market
trends to produce research reports, financial models, and investment
insights. They provide valuable information and insights that assist
clients in making informed investment decisions. Research plays a
crucial role in generating investment ideas, supporting investment
banking activities, and keeping clients updated on market
developments.

VI. Risk Management and Compliance:

Investment banks have robust risk management functions to identify,
measure, and mitigate risks associated with their activities. They
implement risk management strategies to manage market risk, credit
risk, operational risk, and other forms of risk. Investment banks also
have compliance departments that ensure adherence to regulatory
requirements and internal policies. They monitor and manage regulatory
compliance, assess potential risks, and implement procedures to prevent
violations.

VII. Structured Products and Derivatives:

Investment banks create and offer structured financial products and
derivatives to meet specific client needs. They design and structure
 complex financial instruments tailored to clients' risk appetite,
investment objectives, and hedging requirements. Structured products
and derivatives help clients manage risk exposures, gain exposure to
specific asset classes, and create customized investment solutions.

VIII. Investor Relations:

Investment banks provide advisory services to clients in managing
relationships with investors and financial markets. They assist in
developing investor communication strategies, organizing investor
conferences, roadshows, and providing insights into market sentiment.
Investment banks help clients enhance their visibility, improve
shareholder communications, and attract investment interest.

These functions collectively contribute to the growth and stability of financial

markets by facilitating capital allocation, supporting corporate transactions,
providing liquidity, conducting research and analysis, managing risk, and
ensuring compliance with regulations. Investment banks play a critical role in
supporting the functioning and development of the overall economy.

4. What is “Investment Banking”? Make an elaborate discussion on

the structure of investment banking.
5. What is Investment Bank? Discuss its role in market scenario and its
various function.
 Discuss its role in market scenario

The role of investment banking in the market scenario is multifaceted and

crucial to the functioning of financial markets. Investment banks perform
various roles that contribute to the efficiency, liquidity, and growth of the
markets. Here are the key roles of investment banking in the market scenario:

I. Capital Raising: Investment banks play a vital role in assisting

companies, governments, and other entities in raising capital. They
provide expertise in structuring and executing capital raising activities
such as initial public offerings (IPOs), secondary offerings, and debt
issuances. Investment banks advise on the optimal pricing, timing, and
structure of the offerings to maximize the chances of successful
 fundraising. By facilitating capital raising, investment banks enable
entities to finance their operations, expand their business, and
undertake new projects.

II. Mergers and Acquisitions (M&A) Advisory: Investment banks provide

strategic advice and support in mergers, acquisitions, divestitures, and
other corporate transactions. They assist clients in identifying potential
targets or acquirers, conducting due diligence, valuing assets, and
negotiating and structuring deals. Investment banks help clients
maximize value, achieve synergies, and navigate regulatory and legal
complexities associated with M&A transactions. Their expertise in
financial analysis, deal structuring, and market insights is critical in
executing successful M&A transactions.

III. Corporate Finance Advisory: Investment banks offer strategic financial

advice to corporations, governments, and other entities. They provide
guidance on capital structure optimization, financial restructuring, and
other financial decisions. Investment banks analyze market conditions,
industry trends, and financial data to help clients make informed choices
about their financial strategy, funding requirements, and long-term
goals. They assist clients in assessing strategic alternatives, evaluating
investment opportunities, and formulating capital allocation strategies.

IV. Sales and Trading: Investment banks facilitate the buying and selling of
financial securities in the secondary market. They provide liquidity,
market access, and market-making services. Sales professionals establish
relationships with institutional clients, offer investment ideas, and
provide market insights. Traders execute trades on behalf of clients or
the bank itself, ensuring efficient price discovery and liquidity in the
markets. The sales and trading activities of investment banks contribute
to the liquidity and efficiency of financial markets.

V. Research and Analysis: Investment banks conduct research and analysis

to provide insights, forecasts, and investment recommendations to
 clients. Research analysts analyze companies, industries, and market
trends, producing research reports, financial models, and investment
insights. Their research helps clients make informed investment
decisions by providing valuable information on market trends, company
fundamentals, and industry dynamics. Investment banks' research
capabilities support investment decision-making, drive trading
strategies, and guide clients in their investment allocations.

VI. Risk Management and Compliance: Investment banks have dedicated

risk management functions to identify, measure, and mitigate risks
associated with their activities. They implement risk management
strategies to manage market risk, credit risk, operational risk, and other
forms of risk. Investment banks also have compliance departments that
ensure adherence to regulatory requirements and internal policies. They
monitor and manage regulatory compliance, assess potential risks, and
implement procedures to prevent violations. Effective risk management
and compliance practices contribute to the stability and integrity of the
financial markets.

VII. Underwriting and Syndication: Investment banks provide

underwriting services for securities offerings, which involves assuming
the risk of selling the securities to investors. They help issuers price the
securities, assess market demand, and distribute the securities to
investors. Investment banks also engage in syndication, where they form
a group of financial institutions to collectively underwrite and distribute
securities offerings. These activities help issuers access the capital
markets and efficiently distribute securities to a broad range of
investors.

VIII. Financial Advisory Services: Investment banks offer financial advisory

services to clients on various matters such as strategic planning, market
entry strategies, capital allocation, and restructuring. They assist clients
in making informed decisions by conducting financial analysis, market
research, and feasibility studies. Investment banks provide valuable
 insights and strategic guidance that support clients in achieving their
financial and strategic objectives.

Overall, the role of investment banking in the market scenario is

instrumental in facilitating capital raising, supporting corporate
transactions, providing liquidity, conducting research and analysis,
managing risk, and ensuring compliance with regulations. Investment
banks are key participants in the financial markets, contributing to their
efficiency, growth, and stability.
6. Discuss the structure and functions of Investment Banks.
7. Give a brief account on the nature and organisational structure of
Investment Banking.
 Nature of Investment Banking

The nature of investment banking is characterized by several key aspects that

distinguish it from other areas of banking and finance. Here are some
important elements that define the nature of investment banking:

I. Financial Intermediation: Investment banking involves acting as a

financial intermediary between entities seeking capital and investors
looking to deploy their funds. Investment banks facilitate capital raising
activities by helping companies, governments, and other entities issue
securities and raise funds from investors. They play a crucial role in
connecting issuers and investors, bridging the gap between those who
need capital and those who have it.

II. Advisory Services: Investment banks provide strategic advisory services

to clients. They offer expert advice on various financial matters,
including mergers and acquisitions (M&A), capital structure
optimization, financial restructuring, and strategic planning. Investment
banks analyze market conditions, industry trends, and financial data to
assist clients in making informed decisions and achieving their financial
objectives. Advisory services form a significant part of investment
banking activities.
III. Capital Markets Expertise: Investment banks have extensive
knowledge and expertise in capital markets. They understand the
dynamics of different financial markets, including equity markets, debt
markets, derivatives, and commodities. Investment banks help clients
navigate these markets, providing insights into pricing, timing, and
structuring of securities offerings. They have specialized departments for
equity capital markets (ECM) and debt capital markets (DCM) to
facilitate capital raising activities.

IV. Risk Management: Investment banks have dedicated risk management

functions to identify, measure, and manage risks associated with their
activities. They employ risk models and risk management strategies to
mitigate market risk, credit risk, operational risk, and other forms of risk.
Effective risk management practices are crucial for investment banks to
protect their own financial stability and maintain the trust of their clients
and investors.

V. Market Research and Analysis: Investment banks conduct in-depth

research and analysis on companies, industries, and market trends.
Research analysts produce research reports, financial models, and
investment recommendations. This research supports investment
decision-making, guides trading strategies, and assists clients in making
informed investment choices. Investment banks' research capabilities
provide valuable insights into market dynamics and help clients stay
informed about investment opportunities.

VI. Deal Execution: Investment banks have the expertise and capabilities to
execute complex financial transactions. They facilitate mergers,
acquisitions, initial public offerings (IPOs), secondary offerings, debt
issuances, and other corporate transactions. Investment banks assist in
deal structuring, due diligence, valuation, negotiation, and
documentation. They bring together buyers and sellers, ensuring the
smooth and efficient execution of transactions.
VII. Relationship Building: Investment banking relies heavily on building
strong relationships with clients, investors, and other market
participants. Investment banks cultivate long-term relationships with
corporate clients, institutional investors, and high-net-worth individuals.
These relationships are built on trust, expertise, and the ability to deliver
value-added services. Strong relationships are essential for deal
origination, client retention, and the overall success of investment
banking activities.

VIII. Regulatory Compliance: Investment banks operate in a highly

regulated environment. They must adhere to various financial
regulations, securities laws, and compliance requirements. Investment
banks have dedicated compliance departments to ensure compliance
with applicable regulations and internal policies. Compliance with
regulations is critical for maintaining the integrity of the financial system
and protecting the interests of clients and investors.

The nature of investment banking combines financial intermediation,

advisory services, capital markets expertise, risk management, research
and analysis, deal execution, relationship building, and regulatory
compliance. Investment banks operate in dynamic and challenging
environments, working closely with clients to meet their financial needs
and navigate the complexities of the financial markets.