Investment Banking Business Descriptions

Financial Institutions:

This group offers financing and advisory services to banks, insurance companies, thrifts, finance companies, money management companies, and brokerage firms. They would also draw on the resources of other specialists to provide real estate, leasing, and other financial services. The corporate finance area of this group would be responsible for identifying and achieving clients' objectives with transactions such as common and preferred stock offerings, as well as straight and convertible debt offerings.

High Yield Finance & Restructuring:

This group specializes in the placement of private and public debt financings for non-investment grade companies. It also advises troubled companies in the restructuring of debt and structures financings for leveraged buyouts (LBOs) and recapitalizations, including bridge, mezzanine, and senior financings.

Utilities:

This group provides services to electric and gas utility clients. This group's activities include debt, equity, and preferred underwritings, mergers and acquisitions, restructuring advisory assignments, project and lease financing, and seminars with the regulatory community.

International:

This group provides investment banking services to a diverse group of corporations, governments, and financial institutions outside the U.S. Services range from global equity offerings and cross-border merger and acquisitions to privatization's and specialty private placements.

Mergers and Acquisitions:

The much publicized M&A business has the banker acting as an advisor to a company in transactions involving the sale of a whole company, a division, a business unit or just certain assets. The investment bank can service either the buy side or the sell side and it determines the appropriate valuation range for the item being sold. It also negotiates the most favorable terms for its client. The range of services provided includes: advising on acquisitions, exclusive sales of public and private companies, strategic divestitures and restructuring programs, rendering fairness opinions and security valuations, conducting corporate repurchase programs, and structuring defense and shareholder relations programs.

Project and Lease Finance:

This group structures project financings, tax-advantaged and non-tax motivated lease transactions, and other specialized structured financings. Services also include structuring and executing corporate and project financings for both the buy and sell side, negotiating contracts, and obtaining project partners.

Real Estate:

This group provides real estate company clients with a full array of investment banking products and services, including both project and corporate finance executions. This group would also act as a specialist within investment banking, offering real estate expertise to corporate clients such as industrial companies and financial institutions.