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Posted by admin on March 4, 2012
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Posted by admin on July 9, 2011
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The AMERICAN DREAM is a 30 minute animated film that shows you how you’ve been scammed by the most basic elements of our government system. All of us Americans strive for the American Dream, and this film shows you why your dream is getting farther and farther away. Do you know how your money is created? Or how banking works? Why did housing prices skyrocket and then plunge? Do you really know what the Federal Reserve System is and how it affects you every single day? THE AMERICAN DREAM takes an entertaining but hard hitting look at how the problems we have today are nothing new, and why leaders throughout our history have warned us and fought against the current type of financial system we have in America today. You will be challenged to investigate some very entrenched and powerful institutions in this nation, and hopefully encouraged to help get our nation back on track.
Riemer & Braunstein Announces Growth in Banking and Finance Department, Adds 10 Attorneys
Posted by admin on June 18, 2011
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Riemer & Braunstein Announces Growth in Banking and Finance Department, Adds 10 Attorneys
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Read more on Business Wire via Yahoo! Finance
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Posted by admin on June 13, 2011
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Citizens Bank offering video banking on LI
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Posted by admin on May 1, 2011
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Swiss minister defends tough banking proposals-paper
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Posted by admin on April 7, 2011
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‘Draft guidelines on new banking licences in 15-20 days’
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Can I Major In Investment Banking?
Posted by admin on March 23, 2011
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Can I Major In Investment Banking?
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Home Page > Business > Small Business > Can I Major In Investment Banking?
Can I Major In Investment Banking?
Posted: Oct 21, 2009 |Comments: 0
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Over the years, because many of my students approach me with questions about careers in Investment Banking, I’ve written down a few stock answers. Here are my notes:
An investment banker is someone who works or is connected with an investment house. Such investment houses or companies are often called investment houses, brokerage houses, underwriters, or simply investment banks. Many investment bankers are employees, but others may function as agents or independent contractors.
Most investment bankers who are sales representatives (stock brokers) are licensed individuals and must pass a background investigation and several exams to obtain the required licenses. Having satisfied the requirements, the candidates become “registered representatives,” and may then buy and sell securities through the organized markets.
The body that supervises both investment banks and registered representatives is the NASD (National Association of Securities Dealers).
Investment banks raise money for the Government, institutions, individuals worldwide, and public corporations by arranging the sale of securities (stocks, bonds, and derivatives) to the public in the primary market. After an initial public offering (IPO), the purchase and sale of securities take place in the secondary markets.
Professional services offered by investment banks:
Lacking the expertise to raise capital on their own or through organized securities markets (NYSE, OTC, Nasdaq, or the American Stock Exchange), the corporation must rely on investment banks. Therefore, they contract these banks so that they can design and negotiate the company’s best strategy and to recommend the sale of either bonds (debt) or stock (equity).
The bank’s resident staff includes a legal department that makes sure all Government regulations are complied with and all the necessary documentation properly gathered and printed. An important aspect of this expertise is the research called “Due Diligence,” which certifies that a checklist of material facts have been scrutinized to protect investors, the bank, and the company that is issuing the securities.
For small corporations seeking finance, the investment banks will require a retainer, which varies from house to house, but usually around $25,000. Since each deal is different and unique, the corporate controller must shop around to get a good idea as to what a reasonable fee may be.
With the deal settled, the investment bank proceeds to get the issue out. Initially they will prepare the Private Placement Memorandum (PPM) which contains a blueprint for marketing the issue.
Mergers and acquisitions (M&A)
Investment bankers also handle mergers and acquisitions and corporate restructurings. This is a very lucrative field for many investment bankers. By bringing together companies and either merging them or acquiring them (and letting them work independently), investment banks foster the growth of successful companies. Some companies achieve growth and earnings through mergers and acquisitions rather than through the operations of their main line of business. Take for example, General Electric. Investors no longer think of GE as a manufacturing electronics company, but as a conglomerate and finance company. Not only do investment banks bring together companies to form a larger company, but they also break them up into smaller companies, spinoffs, or carve-outs. In either case, the banks will make money.
Brokerage and proprietary trading
Proprietary Investing refers to the management of portfolios of high-yield bonds, leveraged loans and other publicly traded securities. The management teams use intense credit research and relative value analysis. The “prop desk” handles the trades of stocks, bonds, options, commodities, swaps, and other derivatives.
Different strategies are employed for different clients. For example, less aggressive techniques and risk will be employed in the management of pension funds. Likewise, not-for-profit institutions will restrict the trading to safer techniques.
Although investment banks are viewed as businesses which assist other business and institutions in raising money in the capital markets, in fact they also do lots of trading for their own accounts. Part of their daily activities involve: index arbitrage, statistical arbitrage, merger arbitrage, and volatility arbitrage.
Management services and other services
Given their huge pool of skilled and talented employees, they can develop detailed plans for businesses to be successful.
Entire departments and managers specialize in industry sectors such as pharmaceutical, health, wind energy, etc. They develop divisional performance measurement: cost, revenue, profit, and investment and expense centers that determine which method is likely to be the most efficient for each client.
Not only do they design and develop strategies for senior executives to manage the cultures within their organizations, but also they recommend equity compensation instruments (stock options).
For those corporations that are image-conscious, investment banks offer ‘corporate social responsibility’ programs that can enhance the company’s reputation and goodwill.
Students
Many of my students often ask me, can I start with a commercial bank and then transfer to an investment house? Yes. This happens all the time. But, human resources, and division heads in investment banks tend to look down on applicants with commercial bank experience. The action, they feel, is in investment banks. Another question that comes up: what college majors are preferred for investment banking? The answer is: finance, accounting, and economics. Yet, I’ve met successful investment bankers who majored in liberal arts. In fact, a friend of mine majored in French Literature. The ultimate major that is required is: intelligence, coupled with a flair for numbers, and excellent communication skills.
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I am a novice when it comes to this investment thing so please explain in simple terms what investment banking is and what fixed income is about. Thank you
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For the writing techniques I use, see Mary Duffy’s e-book: Sentence Openers.
To see my accounting lessons visit my blog: Writing To Live
Quality Assurance in Banking Investment
Posted by admin on November 13, 2010
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Home Page > Finance > Banking > Quality Assurance in Banking Investment
Quality Assurance in Banking Investment
Posted: Aug 09, 2010 |Comments: 0
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Quality Assurance in Banking Investment
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Article Source: http://www.articlesbase.com/ – Quality Assurance in Banking Investment
Introduction
Banking Investment or investment banking is part of the financial services industry that offers wide variety of services to corporations and organizations all over the world. The range of products and services is increasing rapidly that has made it difficult to distinguish the most important services because investment banks offer their services in different forms (Turnbull and Moustakatos, 1996) The service is an area that helps companies in funds acquisition, advising for wide range of transactions for future businesses (www.wisegeek.com).As it is clear that the investment banking deals with providing financial assistance to the companies for business matters, it is essential to ensure quality service in the area. Therefore quality assurance is the main pillar of any business including profit and nonprofit organizations, government and nongovernmental organizations as it affects the level of success in the business. The quality assurance further helps in conducting other evaluation processes like standards compliance evaluations, brand assurance evaluations, customer or guest experience evaluations, etc. which makes it essential and important in any business organization to maintain a dominant position in the industry market (www.totalqualityassuranceservices.com). In view of the importance of quality assurance, the present paper is intended to discuss the issues and importance related to banking sector particularly in investment banking.
Investment Banking
Investment banks have multilateral functions to execute in favor of various companies. The service mainly deals with companies like helping private and public corporations in issuing securities in the primary market, guarantee by standby underwriting or best efforts selling and foreign exchange management. (www.economywatch.com). Further it is committed towards providing assistance to capital markets as intermediary. These are the institutions that are regarded as counterparts of banks in the capital market in the function of intermediation in the process of resource allocation (Subramanyam, 2004, p.72)
Need for Quality Assurance in Investment Banking
Williamson (1988, p.55) stated that investment banking has been and will continue to be an increasingly intensively competitive business in order to strive in the market which is mainly dominated by the changes as part of strategy in the capital and securities industry. The changes in the market include emergence of institutional investors, internationalization, innovative technology enabling investment banks and their customers to organize and distribute information, increasing complexity, and capital market capabilities are replacing institutional intermediating capabilities making the commercial banks increasingly active in investment banking. Quality assurances are essential in order to retain the customers on hand which shall be the top priority for any organization as they are the main source of revenue and to attract more customers with quality assistance in banking services. The assurance of quality in service sector brings the customer back to make use of the services and recommend the same to others which means increased rate of profit. Therefore quality assurance is essential in banking sector and especially in the investment banking sector.
Quality Assurance in Investment Banking
Quality Assurance is a new topic that is been applied in banking industry that has been accorded the responsibility to evaluate the performance of system and practices and also suggested changes in the existing practices to improve quality assurance. The process of evaluation regarding the quality assurance in investing banking is initiated with the identification of suitable methodology with definition of goals and objectives of the organization (www.sbp.org.pk). The process is essential in investment banking as investment banks have unique role to play in bridging the worlds as mainstream investors manly rely on the quality assurance of the investment banks (Rhyne, 2009, p.51). In view of the importance of quality assurance in the investment banks, the process is carried out to strengthen the procedure and standards at corporate level, promoting efficient utilization of available resources so that different functions are carried out in an expeditious and cost effective manner and make recommendations for enhanced customer satisfaction. Initially quality assurance will be started by following three pronged strategy i.e. (i) develop the system, (ii) document the system, and (iii) analyze the feedback and make further recommendations (www.sbp.org.pk). Quality assurance is at its best at the times of negotiation with with single investment banker and stronger when registered in traditional manner instead of shelf registration (Williamson, 1988, p.69). According to Turnbull and Moustakatos (1996) service businesses can grow in various ways by retaining the existing customers and attracting new customers through great quality and eliminating the redundancies by the way of terminating the services of unsatisfactory customers and providing services to new customers.. Further to clarify the scope of quality assurances to the customers in investment banking, reputation of the bank is important in terms of providing advice, integration, orientation and range of products and services offered that act as the major source of retaining and attracting the customers. Investment bankers seek to cultivate an image of competence and quality which is especially important in a competitive professional service business (Eccles and Crane, 1988, p.69). Neely (1999) states that quality assurance is achieved by managing the quality assurance activities system, quality control diagnosis, innovation, improvement, inspection, quality evaluation and audit, infrastructure, assistance in product usage, recycling, customer satisfaction, reliability, safety, product liability and environmental protection. In order to provide all the facilities mentioned hitherto, quality assurance should begin at each level purely undertaken and supported by the quality assurance team and its members (Gillman and White, 2001, p. 215).
And of late, Total Quality Management (TQM) principles are in practice in most of the successful organizations which also lays down the principles in providing qualitative services to the customer. The TQM principles designed by various researchers are being adapted by many service industries to provide quality service to its customers or clients. It is important to note that the principles are more effective in service sector organizations than in any other firms necessitating the need to integrate the principles in the investment banking to provide quality services to its customers and achieve greater customer satisfaction (Cowling and Newman, 1995). Managers are required to be sensitive to different demands and needs when developing their operational, human resources and marketing strategies with a view to improving the quality of service they offer to their customers as they are willing to pay for better premium services (Spathis, Petridou and Glaveli, 2004). The increasing expectations among the customers, existing and those coming to the bank in search for better service than others in the industry has created a competitive climate thereby laying the impetus on quality of the relationship between the customer and the institution. There are various methods which can be used to ascertain the determinants of the concept of service quality as well as quality measurement techniques (Joseph et al, 2005). Quality is an important aspect in any industry, offering products or services, to attract new customers and retain the existing ones. And providing assurance about the quality is need of the hour for every business. As investment banking is a service oriented business with most of the profits coming through the investments in businesses and acting as consultant to many businesses, it is necessary that investment banking adopt suitable techniques, theories and principles related to quality assurance for customer satisfaction and retention.
Conclusion
The banking sector is growing day by day with new and complex services offered to the customers by various banks to strive in the competitive market. The whole gamut of business is surrounded with one aspect i.e. customer service. Therefore quality is important while providing service to the customers as any soar experiences will result in loss of customers as well as business. It is mentioned that investment banks must improve and emphasize various service dimensions resulting in better quality service. However it is important to mention here that just offering qualitative service is not sufficient but to assure the same service and much better service in the coming future is necessary for the investment banking which deals in higher segment as compared to commercial banking. As mentioned earlier, apart from acting as banks, the investment banks also engage in consultancy services providing assistance in financial and company matters. Basing on this, most of the companies turn towards the banks for suggestions and providing right advice at the right times demonstrates that the bank is reliable financial adviser and is able to meet the clients expectations. Moreover it is important to provide service far better than expected by the customers during the service process by being responsive, approaching the customer to help inspiring confidence, and adopting an institutionalized approach (Turnbull and Moustakatos, 1996). Service quality is being recognized as one of the key strategic value which aims to provide better service in order to retain the existing customers by providing optimum satisfaction, opportunities for cross selling, development of customer relationships, increased sales and market shares by attracting new customers all of which ultimately enhancing the corporate image and business performance (Joseph and Stone, 2003). In view of the above benefits associated with quality assurance in various organizations and particularly in investment banking, it is an integral part of the management process to achieve the goals and objectives of the investment banks. Thus quality assurance is an important element in attracting customers or client in the investment banking sector.
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The FDIC wants more restrictions when banks create and sell investments tied to mortgages, credit cards, and auto loans. Plus: More Americans bought BlackBerrys than any other smart phone during the first three months of the year. (01:16)
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In the aspect of investment banking, both the parties of investor and target business entities require to have an effective and reliable medium to realize their interest towards partaking in the investment banking field. These institutions and entities need to find a sustainable third-party system to locate profitable opportunities and match them appropriately with the desiring investors in the field.
Finance>
Investingl
Dec 08, 2009
Islamic banking and global financial market: signs of sustainable growth
article basically deal with the current financial growth of Islamic banking in world economy and hoe the prohibition of interest under Islamic Bank contributes to the sustainable growth of financial market.
By:
sabaha khanl
Lawl
Oct 12, 2009
lViews: 216
A Study the Strategies Issue in Indian Banking Sector
It is fair to say that despite a turbulent year and many challenges, we have made some progress towards this goal. There has been progressive intensification of financial sector reforms, and the financial sector as a whole is more sensitized than before to the need for internal strength and effective management as well as to the overall concerns for financial stability.
By:
Nidheesh K Bl
Finance>
Bankingl
Dec 07, 2008
lViews: 766
Challenges To The Core Banking Solutions Implementation Projects – Part 2
This is a sequel to my previous article. It explores problems such as lack of resources, training, stress and load testing, and experienced project managers.
By:
Imran Adeel Haiderl
Business>
Project Managementl
Mar 03, 2009
lViews: 213
Business Analyst Resume for Banking and Financial Domains
Business Analyst Resume for Banking and Financial Domains
By:
FutureThoughts,LLCl
Careers>
Resumesl
Oct 19, 2010
Some Know How On Careers in Marketing, IT and Finance
With assortments of career alternatives out there, students are split on choices as to which career path to pursue. In such milieu, let us discuss some of the imperative and pertaining careers in Finance, Marketing and IT. The finance industry is an ever green career option which never goes out of fashion and the sheer number of alternatives accessible when it comes to Careers in finance will surely sweep you off your feet.
By:
Sanjayl
Careers>
Career Managementl
Sep 10, 2010
E- BANKING – RECENT TRENDS IN INDIA
Indian banking system was domestically oriented at the time of nationalization in 1969. Technology in Indian banking has evolved substantially from the days of back office automation today’s online, centralized and integrated solutions.E-banking are the buzzwords in the global commercial activities today E-banking or electronic banking refers to conducting banking activities with the help of information technology and computers. This paper analyses the recent trends in e banking in India
By:
Dr.K.Krishnakumarl
Finance>
Bankingl
Aug 18, 2010
China inflation of prices arise serious disputes
The story began on 9th November 2010. News shows a research status, the prices of breakfast (noodle) rise to4- 5 Yuan per 500g in China. Then news reported the edible oil price rose ensuing.
As we know, during 2010, there are a lot of inflation phenomena. ….
By:
Sophia Brainl
Finance>
Bankingl
Nov 12, 2010
Michael Levitis :What does Filing For Bankruptcy Costs
Even though an increasing number of people are choosing bankruptcy as a lawful means of getting rid of their debts, only of few of them are actually aware of the actual costs of the whole process.
By:
Michaellevitisl
Finance>
Bankingl
Nov 12, 2010
Buy a Small Bank, CAMEL ratings, MergerWorld
. Some of the things to be review 1. Review regulatory reports, 2. Review portion of loan portfolio 3. Review ALLL methodology and process. 4. Review portfolio of HTM securities for impairment, 5. Review minutes 6. Review call reports, and external audit.
By:
iBulletinl
Finance>
Bankingl
Nov 11, 2010
Service Captures Data from Checks and Remittance Advice at a Significantly Lower Cost.
By:
Alberto Stellpflugl
Finance>
Bankingl
Nov 11, 2010
High Yield CDs: The What and the Why
CDs, technically known as certificates of deposit, are special accounts issued by banks, thrift institutions and credit unions. Money placed in a CD cannot be withdrawn by the account holder.
By:
ZoeyVinsonl
Finance>
Bankingl
Nov 11, 2010
Locate the Best Yield Bank CD Rates
If you want to save your money, then you should definitely consider investing in bank certificates of deposit, also known as CDs. This is a reliable way to put your money away so that you will not spend it.
By:
ZoeyVinsonl
Finance>
Bankingl
Nov 11, 2010
RBI’s second quarter review of Monetary Policy: A big hit on the Reality Sector?
Overall, we can say that the policy announcements made by RBI will have a neutral effect in the short run. But in the long run, it is going to have positive impact in terms of protection provided to borrowers (in form of brakes on teaser home loan rates), and in terms of registration of houses at their actual value
By:
Mr Navneet Kumarl
Finance>
Bankingl
Nov 10, 2010
DeVincent to Explain How to Implement Automation Technologies Without Incurring Large Set-Up Costs, Lengthy Installations, or Difficult Adoption, While Experiencing a Positive Return on Investment in Less Than a Year.
By:
Alberto Stellpflugl
Finance>
Bankingl
Nov 10, 2010
Strategic Management – Case Study of Airbus
Airbus is one of the world’s leading manufacturers of commercial jetliners and military airlifters and is world’s first twin engine wide body jet since 1974. The key success factors of Airbus have been helpful in achieving the objectives and improve the overall performance of the company, financially and physically. The company strategy is based on differentiation strategy of Porters generic strategy while providing airplanes with innovative design and technology.
By:
Gopall
Business>
Corporatel
Aug 09, 2010
lViews: 185
Quality Assurance in Banking Investment
The service is an area that helps companies in funds acquisition, advising for wide range of transactions for future businesses. Investment banking deals with providing financial assistance to the companies for business matters, it is essential to ensure quality service in the area. Quality assurance is the main pillar of any business including profit and nonprofit organizations, government and nongovernmental organizations as it affects the level of success in the business.
By:
Gopall
Finance>
Bankingl
Aug 09, 2010
lViews: 136
Global Credit Crunch – UK Economy
The recent credit crisis which initially started to show its colors during the end of 2008 is continuing to play the spoilsport in the growth of world economy. It’s been seven to eight months when we first heard of Lehman Brothers filing for liquidity. The root causes of present credit crisis could be summarized as the improper policy of successive governments that failed to check the financial institutions and mind gobbling schemes offered by various banks and financial institutions.
By:
Gopall
Finance>
Bankingl
May 30, 2009
lViews: 1,236
Porter (2002) states that root of the problem lies in the lack of distinguishing between operation effectiveness and strategy. The expedition for productivity, quality and speed has resulted in management tools and techniques, total quality management benchmarking, time based competition, outsourcing, partnering, reengineering, change management. In any organization, strategy management is the key to its success.
By:
Gopall
Business>
Managementl
May 30, 2009
lViews: 212
Strategic Management: A Case study of Walmart Inc
Porter (2002) states that root of the problem lies in the lack of distinguishing between operation effectiveness and strategy. The expedition for productivity, quality and speed has resulted in management tools and techniques, total quality management benchmarking, time based competition, outsourcing, partnering, reengineering, change management. In any organization, strategy management is the key to its success.
By:
Gopall
Business>
Strategic Planningl
May 30, 2009
lViews: 21,152
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National Investment Banking Association Announces Speaker Line-up for Upcoming 116th Investment Conference
Posted by admin on November 10, 2010
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National Investment Banking Association Announces Speaker Line-up for Upcoming 116th Investment Conference
The National Investment Banking Association today announced its keynote speaker, seminar leaders and additional program details for the upcoming 116th Investment Conference to be held at Caesar’s Palace in Las Vegas on November 17-19, 2010.
Read more on Business Wire via Yahoo! Finance