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Old 15-08-2008, 11:43 AM
whizzard--
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WHAT DOES AN INVESTMENT BANKER DO?
In gist, investment bankers help firms raise funding via the capital markets (bonds, equity, convertibles and other hybrid such as mezzanine financing as well as buy-out loans) and advise on mergers & acquisitions as well as divestitures.

CLIENT COVERAGE
Usually, these are the client coverage guys e.g. they take care of clients in the Real Estate sector or known as sector coverage or country coverage e.g. taking care of clients in say a specific country Malaysia.

They spend their time cultivating client relationships and sending proposals to clients in the hopes of landing a fund-raising mandate or a M&A mandate. Their value comes from the quality of their relationship with the clients and how they are able to land deals with these clients since the space is very competitive. Clients in turn place a value on such bankers based on their ability to deliver & execute, the quality of their advisory expertise & domain knowledge as well as their connections within the industry sector and access to the capital markets.

PRODUCT COVERAGE
There are also investment bankers who are on the product-side i.e. they are the specialists in structuring and executing a transaction once the mandate has been landed e.g. an ECM guy would execute an IPO or a follow-on equity offering.

LOCAL OR FOREIGN BANKS?
Both local and foreign banks have their respective investment banking teams. The foreign boys have been in this game for centuries and have an established global network in terms of industry expertise and access to the global capital markets whilst the local banks are visible mainly in the domestic investment banking activities and weaker in terms of cross-border deals.
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