1. Investment Banking Overview

2. Investment Banking - Function  Investment Banking Function within a Investment Bank also called “Corporate Finance”  Includes Advisory Services on M&A, Foreign Exchange, Valuation, Financial Strategy, Issuing Debt and Equity, etc  Client-driven industry  Separated from rest of bank by “Chinese Wall”

3. What do Investment Bankers Do?  Represent Companies for Sale Value Company (Financial Models) Write Selling Memo Conduct Due Diligence Identify and Contact Buyers Create Management Presentation Negotiate with Buyers Close Transaction

4. What do Investment Bankers Do?  Represent Companies Buying Other Companies Value Company (financial models) Conduct Due Diligence Draft terms and determine price offered Negotiate with Seller

5. What do Investment Bankers Do?  Represent Companies issuing debt or equity (Underwriting) Value Company (financial models) Write Prospectus (or other SEC filings) Create Management Presentation Take Company on Roadshow

6. Associates Role  Essentially Responsible for EVERYTHING Manage up (MDs, VPs) and down (Analysts) and outward (Clients) Financial Modeling – Intricate (LBOs, structuring) to mundane (comps)  Excel Experts Writing/Presentations – Selling memos, management presentations, commitment memos, Roadshows  Word and Powerpoint Experts Putting Pitches together  All of the above (and including binding, copying page counting) Research

7. Associates Role  Key Skill Area Requirements People skills: High Sales skills: Medium Communication skills: High Analytical skills: High Ability to synthesize: High Creative ability: High/Low Initiative: High/Medium Work hours: 80-120/week

8. Pros and Cons  Pros “Doing Deals” Fast paced/Intellectually Driven Environment Meeting CEOs and CFOs $$$ Skills  Cons Hours, Hours, Hours Work can be monotonous Job security/Economic Environment Strong Personalities