Investment Banks in the Financial System

Author: Charles R. Geist [USA]
Publisher:
Publish Date: 1998-01-01
Features: Investment banking remains an extremely mysterious financial intermediary. Despite being discussed by many, few can clearly explain the scope of its business, functions, and its role in economic activities. This book addresses countless questions raised by students, ranging from simple to complex, such as how investment banks conduct business, what intermediary activities they include, and what role they will play in the future banking system. We have strived to answer as many questions as possible, but all answers are not final, as the world financial market is becoming increasingly interconnected, advancements in communication technology are making the world smaller, and the entire banking system is changing at a rapid pace. Unfortunately, some questions in this book are not answered in sufficient depth, and some are not addressed at all. To keep the content concise, we have focused only on significant developments in historical and contemporary investment banking, neglecting the fleeting aspects. When the financial environment changes, investment banking, like other financial institutions, has also evolved. However, one unchanging fact is that since the 19th century, this industry has always been a key factor in economic growth.