3、较广义的投资银行:指经营所有资本市场业 务的金融机构,主要业务包括证券发行承销、 证券交易、兼并与收购、企业融资、基金与资 立管理、研究与咨询顾问、风险资本运作管理 以及金融衍生产品开发与创新等业务 4、广义的投资银行:指任何经营华尔街金融业 务机构都可称为投资银行,其业务指在混业经 营背景下的几乎所有的金融市场业务,涵盖证 券业务以及与银行、保险业相关联的业务,同 时也包含部分不动产投资、个人金融零售及投 资业务等综合性的金融服务 一般采用第三层次定义 2021/2/11 11
2021/2/11 11 3、较广义的投资银行：指经营所有资本市场业 务的金融机构，主要业务包括证券发行承销、 证券交易、兼并与收购、企业融资、基金与资 产管理、研究与咨询顾问、风险资本运作管理 以及金融衍生产品开发与创新等业务。 4、广义的投资银行：指任何经营华尔街金融业 务机构都可称为投资银行，其业务指在混业经 营背景下的几乎所有的金融市场业务，涵盖证 券业务以及与银行、保险业相关联的业务，同 时也包含部分不动产投资、个人金融零售及投 资业务等综合性的金融服务。 ◼ 一般采用第三层次定义
二、美林证券等投行对自身机构 性质的界定及主要业务 2021/2/11 12
2021/2/11 12 二、美林证券等投行对自身机构 性质的界定及主要业务
New merrill Lynch in 2009 a 2008 Merrill Lynch announces a plan to reduce its risk exposures by $11. 1 billion, including a substantial sale of U.s. collateral debt obligations comprised of asset-backed securities a Bank of America Corporation agrees to acquire Merrill Lynch in an all-stock transaction that creates a company unrivaled in its breadth of financial services and global reach a 2009 Merrill Lynch officially becomes a wholly owned subsidiary of Bank of America (美林网站2009年上半年) 2021/2/11
2021/2/11 13 New Merrill Lynch in 2009 2008 Merrill Lynch announces a plan to reduce its risk exposures by $11.1 billion, including a substantial sale of U.S. collateral debt obligations comprised of asset-backed securities. Bank of America Corporation agrees to acquire Merrill Lynch in an all-stock transaction that creates a company unrivaled in its breadth of financial services and global reach. 2009 Merrill Lynch officially becomes a wholly owned subsidiary of Bank of America. (美林网站2009年上半年）
a Following the combination with Merrill Lynch, Bank of America has become: a The largest brokerage in the world, with more than 20,000 advisors and $2.5 trillion in client assets aA leading provider of global corporate and investment high-yield debt, global equity and global M&A Ssg banking services, including commercial lending, global d a global leader in wealth management, private banking and retail brokerage d a global leader in investment management, with approximately 50 percent ownership in blackRock, which has S1. 4 trillion in assets under management in addition to the s589 billion in assets under management with Bank of america as of june 30. 2008 2021/2/11 14
2021/2/11 14 Following the combination with Merrill Lynch, Bank of America has become: The largest brokerage in the world, with more than 20,000 advisors and $2.5 trillion in client assets A leading provider of global corporate and investment banking services, including commercial lending, global high-yield debt, global equity and global M&A A global leader in wealth management, private banking and retail brokerage A global leader in investment management, with approximately 50 percent ownership in BlackRock, which has $1.4 trillion in assets under management, in addition to the $589 billion in assets under management with Bank of America as of June 30, 2008
Merrill Lynch Co. Inc a Merrill Lynch is one of the Corporate Snapshot world's leading wealth Founded: 1914(Charles E management, capital markets Merrill co) and advisory companies, with Employees: 64,200 offices in 40 countries and territories and total client 2007 Net Revenue: $11 billion assets of approximately s2 Total Client Assets: Approx trillion(2008年) $1.8 trillion a Merrill Lynch is one of Total Stockholders' equity the world's premier $32bn providers of wealth Fortune 500: Ranked no., 22 management, securities trading and Stock Symbol: MER Global Markets: 40countries sales corporate finance and As of quarter-end q4 2007. investment banking (2008年) services(2009) 2021/2/11 15
2021/2/11 15 Merrill Lynch & Co., Inc. Merrill Lynch is one of the world‘s leading wealth management, capital markets and advisory companies, with offices in 40 countries and territories and total client assets of approximately $2 trillion.(2008年） Merrill Lynch is one of the world’s premier providers of wealth management, securities trading and sales, corporate finance and investment banking services(2009) Corporate Snapshot Founded: 1914 (Charles E. Merrill & Co) Employees: 64,200 2007 Net Revenue: $11.billion Total Client Assets: Approx. $1.8 trillion Total Stockholders' Equity $32 bn Fortune 500: Ranked No.22 Stock Symbol: MER Global Markets: 40countries As of quarter-end, Q4 2007. （2008年）