International Investment Banking: Theory and Practice

Kursbeschreibung / -kommentar

With an emphasis on the roles of Global Markets and Investment Banking departments of international investment banks, the course addresses the set-up and functioning of sales, corporate finance, trading and research, as well as the interaction with various investor groups. Students learn about the risks and opportunities of the Global Markets business in today’s global financial markets, both from a theoretical and from a practitioner’s perspective. After taking the course, students know about the most important fixed-income financial instruments from a pricing, risk-management and client-marketing perspective. A guest lecturer will be invited to provide insight on the current development in research. The course is organized as follows:
1. Introduction: Today’s global finance market architecture; the role and responsibilities of various business units in corporate, investment and universal banking; financial market instruments; key concepts of financial market theory.
2. Sales: The role of institutional sales targeted to various customer segments, including Real Money, Sovereigns, Hedge Funds and Corporates.
3. Corporate Finance: The role of investment banks in corporate finance segments M&A, Equity (ECM & IPOs), Bonds (DCM) and Loans (restructurings).
4. Trading: Sales Trading and Proprietary Trading in FICC-space and in fixed-income derivatives; new developments including algorithmic and high frequency trading; introduction to pricing and risk management on a trading desk.
5. Research: Securities Research with focus on trade-idea generation, relative value and micro-arbitrage, MiFID-II unbundling rules and client relationship management.