WSL
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Please bear with me -- I realise this is a very "basic" question to ask, but I've only recently started looking into investment banking and I'm a little overwhelmed by the number of divisions/services offered at banks. I've noticed there are a large number of areas: global investment research (GIR), sales and trading (S&T), investment banking division (IBD), risk management, and so on -- I'm still not very clear on the differences between some of them.

In light of this, what I wanted to ask is: which division in a bank is responsible for carrying out these jobs?

-Calculating a company's financial projections
Projected working capital schedule
Projected sales and cost of sales
Projected profit and loss account
Projected balance sheet
Project cash flows

The reason I ask is because I did that sort of stuff while working for a consulting firm. I want to be able to leverage this experience towards getting into IBD -- provided it's similar to/the same as what a banker does.
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ASkyFullOfStars
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A banker
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WSL
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(Original post by ASkyFullOfStars)
A banker
Are you saying it's directly relevant to IBD, and not some other similar division within a bank?

Or is this just an attempt at humour?
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gr8wizard10
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Some of the stuff cross over.

IBD mainly.. M&A, structured finance - would definitely need to know those.

but then Traders/research/sales might have to look and assess fundamentals to make decisions as to which direction a company is heading relative to competitors/market etc..
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PrincePauper
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(Original post by WSL)
Please bear with me -- I realise this is a very "basic" question to ask, but I've only recently started looking into investment banking and I'm a little overwhelmed by the number of divisions/services offered at banks. I've noticed there are a large number of areas: global investment research (GIR), sales and trading (S&T), investment banking division (IBD), risk management, and so on -- I'm still not very clear on the differences between some of them.

In light of this, what I wanted to ask is: which division in a bank is responsible for carrying out these jobs?

-Calculating a company's financial projections
Projected working capital schedule
Projected sales and cost of sales
Projected profit and loss account
Projected balance sheet
Project cash flows

The reason I ask is because I did that sort of stuff while working for a consulting firm. I want to be able to leverage this experience towards getting into IBD -- provided it's similar to/the same as what a banker does.
Thats the finance division
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Tokyoround
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(Original post by PrincePauper)
Thats the finance division
Agreed, that sounds like an accountants job. Depends if we're looking at this from an internal or external perspective though, are these functions to be performed for the bank itself, or on/for clients, or as part of research?
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WSL
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(Original post by Tokyoround)
Agreed, that sounds like an accountants job. Depends if we're looking at this from an internal or external perspective though, are these functions to be performed for the bank itself, or on/for clients, or as part of research?
Okay, thanks. But how/why would these functions differ when performed for the bank/for clients/for research? Wouldn't it be the same in each scenario -- as in wouldn't the banker/accountant need to use the exact same set of skills regardless?
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Tokyoround
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(Original post by WSL)
Okay, thanks. But how/why would these functions differ when performed for the bank/for clients/for research? Wouldn't it be the same in each scenario -- as in wouldn't the banker/accountant need to use the exact same set of skills regardless?
If it's done for the bank, this is an internal finance function, forecasting for senior management to make decisions on. For clients, this could be part of some structuring work, due diligence, valuation, etc. Research, this will be used to support a report on a stock, or possibly bond (in terms of risk). So whilst the basic skills may be similar, application, target audience and exposure is very different. Forecasting will be a big part of internal financial planning, less so for the others.
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WSL
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(Original post by Tokyoround)
If it's done for the bank, this is an internal finance function, forecasting for senior management to make decisions on. For clients, this could be part of some structuring work, due diligence, valuation, etc. Research, this will be used to support a report on a stock, or possibly bond (in terms of risk). So whilst the basic skills may be similar, application, target audience and exposure is very different. Forecasting will be a big part of internal financial planning, less so for the others.
THANK YOU. This answers all my questions.
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