Investment banking

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Definition

Investment banking activity encompasses the many different wholesale services that are connected with a client’s equity transactions. An investment bank's clients are typically companies, financial institutions, investment funds or public entities.

Investment banking generally involves the following departments:

Mergers & Acquisitions (M&A), whose main mission is to advise buyers and sellers on the acquisition, sale or merger of companies;
Equity Capital Markets (ECM), which assists with equity or quasi-equity issues on the stock market, as well as the sale of equity interests;
Debt Capital Markets (DCM), which carries out public or private debt issues on behalf of clients which are subscribed by market investors;
Leveraged Finance, which finances LBO transactions;
Acquisition Finance, which finances the acquisition of large companies

These departments regularly work together to advise and finance debt and equity, structuring deals for their clients. This multi-service offering, which meets most of the financial needs of clients for such transactions, is coordinated by the Coverage team, which manages the entire client relationship.