Investment Banking – Capital Markets

Manish

Shrijit

Vishal

Role of Investment Banks

Investors

Financial Intermediaries

Insurance Companies, Mutual

Funds, Banks

Corporations

Industry Structure

IBDCapital Markets

OthersPrivate equityHedge funds

Fixed Income

EquitySecuritised Products

Roles and Jobs - Desks

Stocks Bonds Funds of Funds

Research

Trading

Sales

Players

• Barclays Capital• Deutsche Bank• Goldman Sachs• HSBC• JP Morgan• Lehman• Merrill Lynch• Morgan Stanley

Culture Issues

• Small Teams - Socialisation• Individualistic Culture• Highly Performance Oriented• Tough Competition• Intensive Work• Limited Client Interaction – depends on

the Desk• Relatively Flat Hierarchy – “egalitarian”

Career Progression

MD

SVP/Director

VP

Associate

Analyst

Work – Life Balance

• Experiences vary from company to company even at the same location

• London– Not too competitive– Slightly formal; dressing– Holidays and work hours respected

• New York– More competitive– More money / more expenses

• Hong Kong– Low taxes– Chinese competition

• Tokyo– Less taxes/most expensive– Japanese are crazy about Indian food

Geographical differences

Questions ?

**Disclaimers: Many opinions are based on second hand knowledge and might be harmful to career