Investment and securities company
Students majoring in finance always put investment banks and securities companies together. Do you really know the difference between them? Come to science today.
1 investment bank ≠ securities company
Overseas investment banks and securities companies are different concepts. According to investment scale and business classification:
1、BB
The famous foreign investment industry is called BulgeBracket, abbreviated as BB, which is the nine major investment industries we often talk about, namely GoldmanSachs, MorganStanley, JPTMorgan, BAML, UBS, Credit Suisse, Deutsche Bank, Barclays and Citigroup.
2. non-BB
The famous non-BB mainly includes HSBC, BNP Paribas and Nomura.
3. Boutique
Boutique investment banks focus on a relatively fine field, usually referring to those investment banks specializing in mergers and acquisitions, listing, debt issuance and other businesses. They often position themselves according to the actual development needs of customers, purchase and raise funds in a targeted manner, introduce strategic funds, expand their scale and develop stronger competitiveness. Rothschild and Lazard are famous in China, and domestic securities companies are also divided into this category.
Domestic securities companies are securities trading companies, also known as securities companies. Our domestic investment banks are the investment departments of securities companies, corresponding to the investment departments of European and American investment banks.
From the monopoly of business, domestic financial institutions such as securities companies, trusts, asset management, futures and funds can correspond to the concept of big investment in Europe and America as a whole. Then why do domestic investment banks and brokers seem to be two fission concepts?
This has a lot to do with the status of China's investment industry and securities companies. For example, the business of helping customers to open accounts and enter the stock market to earn fees is called retail brokerage, which accounts for less than 65,438+00% in the world investment community. The proportion of domestic retail brokers has reached 50%, and securities companies are particularly dependent on retail brokers. What is the relationship between securities companies that open accounts and investment banks? In fact, securities sales and mergers and acquisitions are the business scope of the investment department of securities companies.
2 commerce
The scope of investment business is very wide. Investment banking is direct financing, which is indirect financing compared with commercial bank loans. Investment banking can be used by banks, securities companies and trusts. According to the business scope, it can be divided into primary market and secondary market.
The primary market mainly issues and circulates securities in the secondary market, and then conducts securities issuance and related business.
According to products, it can be divided into stocks, bonds, M & amp； research, front-office business (IBD, sales &; Traditional businesses such as trading, research and asset management basically revolve around these four varieties.
The traditional business of securities companies is intermediary business, trading business and investment banking business, which is also the main source of income. Some securities companies have begun to undertake private fund management, outsourcing services, private equity investment and other businesses. Joint venture securities companies can only engage in sales recommendation business.
What is the difference between a securities company and an investment?
What kind of students do investment banks and securities companies like?
1 investment bank: elites are our dish.
Which experts were recruited by voting? In fact, you can vote when you study English literature. Theoretically, investment banks recruit receptionists from various disciplines. The ambitious investment banker can learn about their work in the few weeks after joining the club.
There are150,000 resumes in the database of finance and career. It can be seen that most investors are concentrated in these four areas, not finance, but economics &; nbsp & ampnbspbusinessAdministration。 & ampnbsp Accounting and Finance. Nbsp, fourth place.
Many investors are experts in accounting, business and finance. The strict background of accounting and financial evaluation is the key to successful application. Graduates of finance and business experts may be more popular than English and history experts.
Competition for positions in large investment banks is fierce every year. In the summer internship program alone, Goldman Sachs received 60,000 resumes. Nbsp; it is definitely a plus item. The data shows that investors mainly come from the following 1 1 prestigious schools.
2 Securities companies: The higher the education, the better.
Compared with overseas investment, domestic securities companies attach great importance to academic qualifications, generally requiring master's degree or above, and large securities companies also have their own TargetSchool. In the United States, TargetSchool is the default. In China, there is no explicit release of TargetSchoolllist, but there is a contempt chain.
From the professional background, the master of science and engineering undergraduate management is the favorite of securities companies, and undergraduate mathematics, statistics, computer and physics have greater opportunities. Of course, for industry researchers in some fields, the major is not limited.