Introduction

Steven I. Davis

Chapter 1 in Investment Banking, 2003, pp 1-5 from Palgrave Macmillan

Abstract: Abstract The world of investment banking has long exerted a fascination for academics, management consultants, and financial analysts as well as practitioners. Today the fascination has reached fever pitch as the business, having grown globally at a phenomenal rate in the 1990s of perhaps three times GDP in key markets like the US and Europe, faces some of the consequences of its turbulent existence. From essentially a cottage industry a few decades ago, it has attracted investors with returns on capital rarely seen in other financial businesses, the cream of the world’s business schools with compensation levels inconceivable in earlier eras, and competitors from the world’s wholesale banks desperate to preserve at least a portion of their corporate banking franchise.

Keywords: Private Equity; Investment Banking; Management Consultant; Universal Bank; Turbulent Existence (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-00111-4_1

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DOI: 10.1057/9780230001114_1

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