Due to the rapid development of investment banks, it is very difficult to define investment banks. Investment bank is the name of the United States and continental Europe, Britain is called merchant bank, and Japan is called securities company. There are four main definitions of investment banks in the world:
First, any financial institution engaged in Wall Street financial business can be called an investment bank.
Second, only financial institutions that operate part or all of the capital market business are investment banks.
The third type: financial institutions engaged in securities underwriting and corporate mergers and acquisitions are called investment banks.
Fourth, financial institutions that only underwrite securities in the primary market and trade securities in the secondary market are called investment banks.
Investment bank is a concept corresponding to commercial bank, and it is a new industry formed by modern financial industry to adapt to the development of modern economy. The distinctive features that distinguish it from other related industries are as follows: firstly, it belongs to the financial service industry, which is the symbol that distinguishes general consulting from intermediary service industry; Second, it mainly serves the capital market, which is a sign that distinguishes commercial banks; Third, it is an intelligence-intensive industry, which is different from other professional financial services institutions.
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