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Crédit Suisse Presentation of investment banking
Citation preview
University College London
17 September 2007Ces Millwood
The materials may not be used or relied upon in any way.
Confidential
Slide 2
Topics
Typical global bank structure Overview of Investment Banking Divisions
Slide 3
Multi Divisional banking group, many facets
Banking
InvestmentBanking
PrivateBanking
Banking Group
AssetManagement
Focus is on serving its clients in three typical business lines: investment
banking, private banking and asset management.
Slide 4
What we do for Investment Banking clients
In investment banking, services include financial advisory and capital raising services,sales and trading for users and suppliers of capital around the world.
To meet our clients’ demand for high-quality investment banking service,a key enabler is a global platform of services delivered through regional teams forfunding, investing, risk management, and financial advisory.
Products and services include:• Debt and equity underwriting• Sales and trading• Financial advisory services including M&A, divestiture, corporate sales, restructuring,
liability management• Investment research
Slide 5
What we do for Private Banking clients
In private banking, services covered include comprehensive advice and a broad range ofinvestment products and services tailored to the complex needs of high-net-worthindividuals globally.
A structured advisory process encompassing both asset and liability management. Furthermore, leading innovative alternative investments. Wealth management solutions include tax planning; pension planning; life insurance
solutions; wealth and inheritance advice, trusts and foundations. Typically it’s required to offer multiple booking platforms and global execution
capabilities.
Slide 6
What we do for Asset Management clients
Asset Management offers investment products across the full spectrum of asset classes,including:
– equities,
– fixed income,
– Commodities
– multiple-asset class products
– alternative assets such as real estate, hedge funds, private equity and volatility management.
It’s typical to manage portfolios, mutual funds and other investment vehicles for a broadspectrum of clients globally, ranging from governments, institutions and corporations toprivate individuals.
Key is to be able to offer asset management business that is operated as a globallyintegrated network to deliver our best investment ideas and capabilities to clients aroundthe world.
Overview of Investment Banking Divisions
Slide 8
– Fixed Income Division– High Yield Capital Markets– Equity Sales & Trading– Equity Research
– Mergers & Acquisitions– Industry and Country
Coverage
Multi Divisional banking group, many facets:
Chief Executive Officer Chairman
Securities Investment Banking
Asset Management
–Joint Ventures:–Equity Capital Markets–Debt Capital Markets–Leveraged Finance
Wealth Management Investment Banking
Slide 9
Why approach an Investment Bank?
Investor buysinvestments
Investors /companies need
informationResearch
Investor withdrawscapitalCompany
buys assets
Investor providescapital
Company /Governmentsells assetsCompany /
Governmentneeds capital
Fixed IncomeSales & Trading
Equity Sales &Trading
Slide 10
What we typically offer our clients
Debt CapitalMarkets
Privatisations CommercialLending
ForeignExchange
FinancialDerivatives
Strategic FinancialAdvisory
Mergers andAcquisitions
Equity CapitalMarkets
Slide 11
Investment Banking Department
The “Bankers” are responsible for maintaining relationships with clients:– Capital Raising
Advise companies on status of capitalmarkets or refer them to capital marketsofficers
Raise capital by creating various cost-effective securitiesfor companies
Security can be debt, preferred stock, common stock or a hybrid Typically act as “middleman”
– Advisory Services Advise companies regarding their financial/business strategy Provide financial/industry advice regarding mergers and acquisitions Restructure and advise companies in bankruptcies
Slide 12
Equities Department
Fully-integrated service in Equity products to our client base:
Analysing stocks and markets to generate investment ideas Marketing investment ideas to clients Executing client trades Making markets in global equities Structured products to meet our clients specific requirements Derivatives – to express an underlying view or hedge Taking proprietary positions
Slide 13
Equities – who does what?
Fund Manager
Analyst atClient
Dealer atClient
Operations at Client
ClientOrder
Execution
Salesperson
ResearchAnalyst
Operations
Idea
Feedback
Idea
Feedback
Credit Suisse
IdeaTrader
Exchange
Feedback
Execution
Order
Settle
Trade
ExecutionOrder
ExecutionOrder
Trade/settlementdetails
IdeaClientFeedback
Outlines stockbehaviour in
market
Outlines stockrecommendation
IdeaWhat clients aredoing
Sales Trader
Slide 14
Fixed Income Department
What goes on in Fixed Income? Debt Issuance Trading:
• Customer• Proprietary
Sales Structuring Research:
• Economic: Macro & Micro• Strategic• Company Specific
Coordinated Relationship / Account management
Slide 15
Fixed Income – how the departments interact
Client/Borrower
Primary Debt
Secondary Trading
Sales
Relationship / Account management
ResearchStructuring
Slide 16
Shared Services and Information Technology.How does the Bank execute its business?
All three business areas aresupported by Shared Services andInformation Technology
These are critical areas of thebank and ensure the effectiveexecution of business
Shared Services and InformationTechnology comprise manydifferent areas, some that workdirectly with a specific businessarea or others that focus onregional or firm-wide projects
Banking
InvestmentBanking
PrivateBanking
AssetManagement
Shared Services & Information Technology
Slide 17
Shared Services
Shared Services supports the bank in many ways via some of the following key areas:
Investment BankingSupport Complex Product
Support Operations
Chief Operating Office Business School Corporate Real Estate &
Services Human Resources Supply Management
General Counsel Legal & Compliance
Chief Risk Office Credit Risk Management Risk Measurement &
Management Strategic Risk
Management
Chief Financial Office Financial Accounting Global Insurance Product Control Tax Treasury
Slide 18
Success at in Investment Banking – Key criteria
Collaboration
People Leadership
Personal Excellence
Diversity &Inclusion
Ethics &Control
Client Focus &Solutions
“Welcome, Jones. A word of advice before youembark on your career…”
Slide 19
Core bank-wide initiatives
"Increase client focusand improveprocesses"
"Implement globalbusinessarchitecture"
“Pursue clientdriven innovation"
Revenue growth
Operational efficiency/cost management
"Sustainably improvecost structure"
“Offer productsand services fromacross the bank"
CostManagement
Initiative(CMI)
Centers ofExcellence
(CoE)OperationalExcellence
(OE)
ClientCentricity
(CC)
'One Bank'Delivery(OBD)
Slide 20
Questions ?