FINS1612 Chapter Notes - Chapter 3: Takeover, Investment Banking, Back Office
Document Summary
The name given to those activities within an investment banks that involve client relations, especially trading, investment banking, research and investment management: middle office. The name given to those activities within an investment bank that do not involve client relations but may complement or monitor front office activities. Risk measurement and reporting are examples: back office. The name given to those functions within an investment bank that are most removed form client relations. Specialist providers of financial and advisory services to corporations, high-net-worth individuals and government: underwriter. An institution that supports the issue of securities by a client and agrees to buy any securities not bought by investors: merger and acquisition. Takeover company seeking to gain control over a target company: spin-off. A situation where a part of a company is separated from the whole and begins an existence as an independent company: horizontal takeover.
