Details

<p>Chapter 1 Introduction to Investment Banking: How the Financial Crisis and Reforms Changed the Industry 1</p> <p>Chapter 2 New Investment Banking Structure: Financial Holding Companies, Full-Service, and Boutique Investment Banks 9</p> <p>Chapter 3 The Structure of Investment Banks: Divisions and Services 21</p> <p>Chapter 4 Investment Banking Strategies: How They Compete and Profit 37</p> <p>Chapter 5 Employment Opportunities in Investment Banking 49</p> <p>Chapter 6 Venture Capital and Private Equity: Direct Investing in Companies 77</p> <p>Chapter 7 Mergers and Acquisitions 99</p> <p>Chapter 8 Equity Underwriting and IPOs 117</p> <p>Chapter 9 Debt Underwriting: Issuing Bonds 141</p> <p>Chapter 10 Asset Securitization: Turning Income Streams into New Investment Vehicles 173</p> <p>Chapter 11 Listing in New York, London, and Other Markets 195</p> <p>Chapter 12 Trading: Market Making, Arbitrage, and Brokering 213</p> <p>Chapter 13 Repurchase Agreements and Prime Brokerage 237</p> <p>Chapter 14 Derivatives and Financial Engineering: Foreign Exchange, Commodities, and Interest Rates 257</p> <p>Chapter 15 Investment Management for Pension Funds, Endowments, and Wealthy Families 279</p> <p>Chapter 16 Securities Regulation and Ethics: The Dodd-Frank Bill and Other Key Laws 297</p> <p>Chapter 17 The BRICs: Investment Banking in Brazil, Russia, and India 323</p> <p>Chapter 18 The BRICs: Investment Banking in China 339</p> <p>Chapter 19 Investment Banking Trends and Challenges 359</p> <p>Index 367</p>

<p><b>K. THOMAS LIAW, P<small>H</small>D,</b> is a Professor of Finance at St. John's University. He has published several books, including <i>Capital Markets; The Irwin Guide to Stocks, Bonds, Futures, and Options</i>; and <i>Investment Banking and Investment Opportunities in China</i>. He has published articles in the areas of mergers and acquisitions, banking, swaps, repurchase agreements, and market risks. His consulting practice specializes in investment management and securities business, and he speaks on the subjects of investment banking and capital markets at corporate programs. Professor Liaw earned his doctoral degree from Northwestern University.

<p>The financial crisis and the fallout from the Lehman Brothers bankruptcy caused a seismic shift in the investment banking industry. Three of the top five investment banks in the United States disappeared, while Goldman Sachs and Morgan Stanley converted to commercial banking charters. Post-crisis financial regulation overhaul, including the Dodd-Frank legislation, altered the nature of what investment banks do and how they undertake those activities, while the Volcker rule has shaken up trading desks everywhere. The rules have changed, and <i>The Business of Investment Banking, Third Edition</i> arrives in time to better serve bankers seeking to advance their careers and students just beginning theirs. <p>Investment banks must now navigate the shifting regulatory terrain, while taking full advantage of burgeoning investment banking opportunities. In <i>The Business of Investment Banking</i>, Dr. Liaw provides an inclusive, up-to-date guide to the evolving investment banking industry. New topics in the <i>Third Edition</i> include: <ul> <li>Chapters on investment banking in BRIC countries, as Brazil, Russia, India, and China now account for a quarter of the global economy and present tremendous, potentially profitable opportunities to investment banks</li> <li>Details on the changes prompted by the financial crisis and the subsequent regulatory and government policy changes</li> <li>The shift in the listing of securities away from New York to other financial centers around the world as a result of the Sarbanes-Oxley Act, and how major exchanges compete for the same business</li> <li>Expands coverage of client service related trading and prime brokerage, which can be volatile, but also highly profitable</li> </ul> <p>A staple of industry training programs and a valued reference among banking students in its first two editions, <i>The Business of Investment Banking, Third Edition</i> adds a wealth of new information to an indispensable resource.

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