第六组投资银行ppt课件

1、 Investment bank.PositionMain contents:Investment banking businesses Compare with commercial bankOrganization structureThe definition of investment bank. Investment banking is an organic process, often in the change, development, evolution, any books can precisely and elaborate. Robert Kuhn .What is

2、 investment bank? The participants in the marketplace that work with issuers to distribute newly issued securities are called investment bank. 协助发行人将新发行的证券进展出卖的市场参与者称为投资银行.The business areas within Morgan Stanley:Institutional securities(机构证券)Wealth management财富管理Investment management投资管理Technology技

3、术Operations业务操作Company management 公司管理. 证券发行与承销、证券买卖经纪、证券私募发行、企业并购、工程融资、风险投资、公司理财、投资咨询、资产及基金管理、资产证券化、金融创新等都是投资银行的中心业务组成。 Investment banking is performed by two groups :commercial banks and securities houses(券商).Financing marketPrimary market 一级市场Secondary markets 二级市场证券发行人：为筹措资金而发行债券、股票等证券的发行主体投资者：经

4、过买入证券而进展投资的各类机构法人和自然人中介机构：为证券的发行、买卖提供效力的各类机构证券承销 参与者Private placement 私募Public placement 公募发行方式.Securities underwriting The function of buying the securities from the issuer is called underwriting(承销). underwritingfirm commitment 包销best efforts 代销 全额包销余额包销.证券发行工程：股票投资银行非公开发行股票增发配股可转债Primary market：I

5、POInitial Public Offerings is a common stock Offering issued by companies that had not previously issued commonstock to the public. 初次公开发行股票IPO上市公司增资 发行.Secondary Markets:Investment bankIssuersInvestors salebuySecurities trading 证 券 交 易Underwriter discount/gross spread: 承销商折扣或 总价差. 财务顾问和投资咨询securiti

6、es issuancemergers and Acquisitions (M&A) 并 购issuersinvestor收买方被收买方发行价钱,时间，融资期限，利率程度；利润报答，投资建议等。搜索目的，买卖价钱，收买战略，估价意见；反收买等. Mergers and Acquisitions (M&A) 并 购Merger： 兼 并Acquisition： 收 购Consolidation： 合 并两个或两个以上的企业合并成为一个新的企业，合并完成后，多个法人变成一个法人两个货两个以上的独立企业合并组成一家企业，被吸收的企业解散一家企业用现金或者有价证券购买另一家企业的股票或资产，获得对该企业

7、控制权.Organizational structure ：股东大会董事会执行管理委员会内部管理业务管理国内外分支机构董事会办公室审计委员会人力资源部财务部法律部稽核部风险管理部信息技术部企业融资部公共融资部工程融资部私募资金部兼并收买部证券买卖部私人客户部资产管理部风险资本部开展研讨部内部. Organizational structure:内部股东大会董事会管理委员会董事会办公室审计委员会内部管理分支机构业务管理财务部法律部稽核部风险管理部信息技术部人力资源部证券类资产管理类信誉效力类投资银行部机构销售与买卖部全球研讨部私人客户部网上业务部机构投资管理部私人投资管理部信誉效力部.外部构造分

8、行附属行代理行办事处.摩根士丹利的组织构造附属机构摩根士丹利国际银行中国 办事处香港 北京 上海 台北.规律：市场环境变化 调整市场定位 整合资源 产生新的运营方式 组织架构变化 提高运营效率 盈利才干提高 收入增长.摩根士丹利组织构造的变化和开展1996-2001年摩根士丹利证券部投资管理信用服务投资银行销售买卖融资私人客户集团机构和个人客户的全球资产管理效力，私人股权投资Discover FinancialServices.摩根士丹利组织构造的变化和开展2002-2006年摩根士丹利机构证券私人客户集团投资管理信誉卡效力投资银行销售 买卖 融资全面财务规划和投资效力全球资产管理产品和效力融

9、资公司信贷财务顾问股票买卖利率产品，信誉产品，货币产品.摩根士丹利组织构造的变化和开展2007年-至今摩根士丹利机构证券部全球财富管理集团资产管理部.效果资产周转率利润率ROE杠杆比率80%70%60%50%40%30%20%10%0%40353025201510501996 1998 2000 2002 2004 2006 2021 2021.Investment bank Commercial bank depositloan difference between Investment banks and commercial banksSecurities underwritinginv

10、estorsSecurities tradingissuers buy.Investment BankCommercial bankOrigin of business Securities underwriting Deposit, loan Financing instrumentsDirect financing Indirect financing Finance service object Long-term capital market Short-term capital market Main source of profits Commission Savings and

11、loan spreads .Investment BankCommercial bankRisk characteristics Investors (high risk) investment bank (low risk)Depositor (low risk); Commercial Bank (high risk)Operating principles Under the premise of risk control is more important to develop Pursuit of profitability security mobility, adhere to

12、sound principles Regulatory Treasury securities regulators and stock exchanges multilevel central bank tube Central banks, the CBRC Insurance arrangements Investment banking insurance system Deposit Insurance System .Titles of investment banking Managing DirectorDirector Vice PresidentAssociate Anal

13、yst .Analyst Programs For Undergraduates institutional securities 机构证券investment management 投资管理wealth management 财富管理company management 公司管理operations 业务操作technology 技术.INVESTMENT MANAGEMENTThis department is responsible formanaging investments on behalf of both institutional and individual investo

14、rs. Morgan Stanley Investment Managements (MSIM s) institutional clients include pension funds养老基金, foundations and endowment companies. Our objective is to help our clients achieve outstanding long-term investment performance by offering them a wide array of equity, fixed income and alternative inv

15、estments, such as real estate房地产, private equity and hedge funds对冲基金. .qualifications/skills/requirements You are a final year university with outstanding academic standing, graduating by June 2021.Financial/business-related studies preferred. You are fluent in English; fluency in Mandarin is advantageous. You are a team player with a strong work ethic who thrives with confidence on intellectual challenges. You have strong analytical skills and the ability to grasp complex data, manage multiple projects, provide complicated financial analysis and develop ap