The first section of our Investment Banking training lays the foundations to understand the industry. It provides historical context and addresses such vital matters as the difference between commercial and investment banks, how to remedy potential conflicts of interest in investment banking and the role of universal banks in the modern financial system.

This part of our Investment Banking course introduces a high-level overview of the four main lines of investment banking activity: capital markets, advisory, trading and brokerage, and asset management. These lessons set the stage for the more in-depth sections for each of the four business lines provided later in the course.

When companies want to raise equity, they need the services of the Equity Capital Markets (ECMs) investment banking division. This section teaches why a company would like to go public, the different characteristics of retail, institutional, and hedge fund investors, why bookbuilding is a crucial technique that helps investment banks price an offering, and much more.

Debt capital markets (DCMs) are services line that helps companies and government entities issue debt to the public. You’ll learn about the advantages of bonds compared to traditional forms of financing, the specific mechanics of a bond offering, what securitization is, and what asset-backed security and loan syndication are.

Mergers and acquisitions is a term that describes the consolidation of companies. The primary rationale is that combining two businesses is worth more than their separate stand-alone values. The section of our Investment Banking training addresses several technical details, such as the types of M&A processes and steps involved in each deal, how to value a target company, and how to bridge the consideration gap between an acquirer and a seller.

Investment banks often work with distressed businesses that need to restructure their financial liabilities. This is a very technical and delicate process that requires balancing the interests of several stakeholders whose capital is at risk. This part of the Investment Banking course explains how to do that.

Investment banks trade at their own account and provide brokerage services to their clients. Historically, this has been a very profitable business line that’s likely to be transformed with the advent of algorithmic trading.

Investment banks offer asset management services to institutional clients and high-net-worth individuals (HNWI). In this way, they can serve existing client relationships and continue to add value for clients in the long run.