Overview of Investment Banking

An investment bank is an intermediary between those who have money (investors) and those who want to put it to work (clients & companies). Specifically, an investment bank:

  • Provides strategic & financial advisory services to clients
  • Assists clients in raising capital through the issuance of debt or equity securities (such as bonds, an IPO, etc.)
  • Provides advisory services related to mergers & acquisitions (M&A) transactions
  • Provides solutions related to restructuring, special situations, and bankruptcy


Additionally, investment banks can provide ancillary services such as market making, trading of derivatives and equity securities, and FICC services (fixed income instruments, currencies, and commodities).


What is the difference between a "bulge-bracket" and boutique investment bank?

There are many different types of investment banks, and each has its own unique structure. Generally, the universe can be divided into bulge-bracket and boutique. Bulge-bracket banks are global full-service institutions that provide a majority of the services listed above and are typically divided into four primary areas (see note below): Private Wealth Management, Corporate Finance & Investment Banking, Sales & Trading, and Research. Boutique investment banks specialize in one or a few of the areas listed above (middle-market M&A advisory, restructuring, capital raising, etc.).


What is the difference between product and coverage (industry) groups?

Banks will typically place professionals in a specific product or coverage group. Note that groups, programs, and structures vary at each bank, and we are dedicated to helping you find a bank and group that best suits your skills and preferences.


  • Product Groups - a banker will typically gain exposure to a variety of industries while specializing on a specific product. Examples include: Leveraged Finance, Equity Capital Markets, Debt Capital Markets, M&A, and Restructuring.
  • Coverage Groups - a banker will typically gain exposure to a variety of products while specializing on a specific industry. Examples include: Consumer & Retail, Power, Energy, Industrials, Technology, Communications & Media, Financial Institutions, and Real Estate.


Post-MBA Opportunities

Investment banks recruit at UNC Kenan-Flager for both Summer Associate and Full-Time Associate positions. The list of firms recruiting UNC Kenan-Flagler MBA students includes (but is not limited to):














For information on our Career Management Center (CMC) and our most recent employment statistics, please visit our CMC Homepage.


Note: This club focuses on Corporate Finance and Investment Banking opportunities. If you are interested in other areas, we have dedicated clubs for each and will connect you with the requisite resources to pursue those opportunities. To learn more, please visit our Student Clubs Homepage.

Investment Banking Club

Careers

  • Evercore
  • Goldman Sachs
  • Harris Williams
  • Jacobs Capital
  • Jefferies
  • JP Morgan
  • Lancaster Pollard
  • Lazard Freres
  • Lazard Middle Market
  • Lincoln International
  • Moelis & Co.
  • Morgan Stanley
  • Piper Jaffray & Co.
  • Robert W. Baird
  • Sagent Advisors
  • Scotia Waterous
  • Stifel Nicolaus
  • SunTrust Robinson Humphrey
  • Tudor, Pickering, & Holt
  • UBS
  • Wells Fargo Securities
  • Bank of America Merrill Lynch
  • Barclays
  • BB&T Capital Markets
  • Berenson & Co.
  • BlackArch Partners
  • Cary Street Partners
  • Citi
  • Credit Suisse
  • Deloitte Corporate Finance
  • Deutsche Bank
  • Eastdil Secured