Musings on Markets

MAY 5, 2023

In March 2023, the fall of Silicon Valley Bank shocked investors not only because it was unforeseen, but also because of the speed with which it unfolded. That failure has had a domino effect, with Signature Bank falling soon after, followed by Credit Suisse in April 2023 and by First Republic last week.

Banking 76

Banking Equity Start-ups Treasury 76

Brian DeChesare

AUGUST 3, 2022

As investment banking internships wind down each year, interns everywhere wake up and mysteriously come up with a similar idea: “I want to switch banks for my full-time role! Unfortunately, switching banks, groups, or locations after your internship is much easier said than done. Why Switch Banks?

Banking 82

Banking Start-ups Enterprise Value Marketability 82

Mckinsey and Company

NOVEMBER 3, 2023

Africa’s fintech start-ups are leveraging mobile technology and innovative platforms to transform digital banking. We spoke with Ashraf Sabry, founder and CEO of Fawry, about the sector’s potential.

Start-ups 118

Start-ups Banking Technology 118

Brian DeChesare

SEPTEMBER 29, 2022

We covered investment banking in Canada a long time ago on this site, but things have changed over time – and the original article was light on details and numbers. Although there are some advantages to IB in Canada, it’s almost always better to start a finance career in the U.S. Canada is significantly smaller than the U.S.

Banking 94

Banking Start-ups Private Equity Firm Equity 94

Brian DeChesare

JUNE 15, 2022

If you look online, you’ll find many threads, articles, and blog posts saying that back office (BO) and middle office (MO) jobs are “the worst” and that if you end up there, your career is over. Yes, if you’re working at a large bank, it’s generally best to be in a “front office” (client-facing) role.

Banking 94

Banking Treasury Start-ups Finance 94

Mckinsey and Company

JULY 26, 2023

Neobank founder and technologist Anne Boden talks about the changes in the banking landscape that prompted her to start a new institution from the ground up.

Start-ups 95

Start-ups Banking 95

Brian DeChesare

AUGUST 23, 2023

Almost nothing is worse than recruiting for investment banking internships , winning an offer, preparing , completing the internship, and then not getting a return offer. All the large investment banks – bulge brackets , elite boutiques , and middle-market firms – use internships as a recruiting tool for Analysts and Associates.

Banking 52

Banking Start-ups Finance Marketability 52

Brian DeChesare

OCTOBER 18, 2023

Even though we’ve covered industry groups vs. product groups and teams such as M&A , ECM , DCM , and Leveraged Finance , we continue to get questions about capital markets vs. investment banking. The questions usually go like this: Are capital markets teams (ECM, DCM, and LevFin) “real” investment banking? Do you learn anything?

Banking 59

Banking Marketability Start-ups Equity 59

Brian DeChesare

NOVEMBER 15, 2023

I’ve now been writing about finance careers for almost 20 years, and the topic of the CFA for investment banking never seems to die. But earlier in 2023, the CFA Institute announced the biggest changes to the program since it started. These points go back to the flawed concept of “ investment banking certifications.”

Banking 59

Banking Start-ups Finance Private Equity Firm 59

Reynolds Holding

FEBRUARY 12, 2024

Loan accounting in a bank should be straightforward, delivering predictable and transparent results. While judgment is involved when loan performance deteriorates, the goal of management and outside accountants should be a presentation that maximizes comparability between banks and minimizes idiosyncratic outcomes. percent to 8.9

Banking 59

Banking Book Value Start-ups Technology 59

Musings on Markets

MAY 7, 2023

I also used the banking framework to argue that good banks have stickier deposits, with a higher precent of these deposits being non-interest bearing, that they invest in loans and investment securities on which they earn interest rates that cover and exceed the default risk in these investments. All Equity, All the time!

Banking 63

Banking Price to Book Dividends Book Value 63

Brian DeChesare

MAY 11, 2022

There are few topics as heated as age and investment banking. What should I do with my life if I’m too old for banking?”. If you are older than these age ranges and still want to win a traditional investment banking role, you should start by asking yourself, “Why?” Do I have any chance if I’m above the age of X?

Banking 98

Banking Start-ups Finance Private Equity Firm 98

Brian DeChesare

MARCH 2, 2022

As investment banking recruitment has moved up earlier – especially in the U.S. many students “miss” the process or start too late to have a good chance. These factors have made the off-cycle investment banking internship a popular strategy for many students. vs. elsewhere, and it also differs at different types of banks.

Banking 59

Banking Start-ups Finance Equity 59

Brian DeChesare

APRIL 6, 2022

Ask anyone joining a large bank which group they’re most interested in, and consumer retail investment banking is a likely answer. The benefits of the group are almost like the benefits of getting into investment banking : brand/prestige, technical skills, and exit opportunities. public transportation where it exists).

Banking 97

Banking Start-ups Equity Marketability 97

Brian DeChesare

DECEMBER 21, 2022

Just look at the financial markets, the crypto meltdown, deal volume at banks, inflation, energy prices, Russia/Ukraine, supply chains, and the hiring environment in tech and finance. But let’s start with my favorite topic: “ranking” banks, schools, and maybe a TV series or three. Bank, School, Dragon, and TV Rankings.

Banking 85

Banking Start-ups Finance EBITDA 85

Reynolds Holding

DECEMBER 3, 2023

The DFA introduced several reforms; collectively, these reforms were intended to reduce the risk of the financial sector and to provide financial stability following the banking crisis of 2007-2008. 1] All publicly traded banks with assets ≥ $50 billion had to additionally designate an executive as the CRO by January 1, 2015.

Banking 52

Banking Start-ups Finance Compliance 52

Lighter Capital

MARCH 11, 2023

The recent news about Silicon Valley Bank is saddening for those in the startup world. If you are new to Lighter Capital We have been helping startups grow without giving up equity for over a decade. If you are in need of financing, you can see if you qualify by , starting an application right now.

Banking 52

Banking Start-ups Finance Equity 52

Brian DeChesare

DECEMBER 14, 2022

One topic that I’ve never fully explained on this site is the investment banking target school. And why do banks focus so heavily on a few schools? Definitions: What are “Investment Banking Target Schools”? It’s still useful to look at the numbers, but they should only be a starting point.

Banking 52

Banking Finance Start-ups Corporate Finance 52

Financial Times M&A

OCTOBER 3, 2023

Plus, Revolut gets a step closer to its UK banking licence and Atomico helps put European start-ups back on the map

Start-ups 67

Start-ups Banking 67

Brian DeChesare

DECEMBER 7, 2022

The first thing to understand about investment banking in Hong Kong is that it’s unlikely you’ll ever be able to work in investment banking in Hong Kong. In the 1990s and 2000s, bankers from other regions could transfer to HK or start their first jobs there without a strong connection to the region or Asian language skills.

Banking 52

Banking Equity Start-ups Finance 52

Brian DeChesare

AUGUST 10, 2022

With the possible exception of FIG , oil & gas investment banking generates the highest number of panicked emails and questions. But before delving into the exit opportunities and the long-term outlook, let’s start with the fundamentals: Oil & Gas Investment Banking Defined. How do I move around?

Banking 88

Banking EBITDA Dividends Equity 88

Reynolds Holding

OCTOBER 25, 2023

Key takeaways Diagnosing the true reasons for the failure of Silicon Valley Bank (SVB) and the contagion it fostered is critical to prescribing the right medicine to reduce the risk of similar failures and contagion in the future. Such flattening would do nothing to reduce the risk of future bank failures and related contagion.

Banking 40

Banking Start-ups Venture Capital Fund Equity 40

Brian DeChesare

JANUARY 13, 2022

If you’ve been reading this site for a long time, you probably thought that I’d never return to the topic of investment banking fitness. The large banks think they might return to the office “eventually.”. The challenge is that the conditions in investment banking are awful for staying fit. After all, what’s different?

Banking 59

Banking Start-ups 59

Brian DeChesare

AUGUST 31, 2022

Traditionally, if someone asked the “ sales & trading vs. investment banking ” question, the response was easy: “Do banking unless you really, really like trading and could not imagine doing anything else.”. The time to expiration or maturity is further away – because there’s more time for the stock price to go up.

Banking 67

Banking Risk-free Rate Equity Start-ups 67

Peak Business Valuation

MAY 10, 2024

This article is for anyone starting a business but who lacks the capital or collateral to bring this dream to fruition. Peak Business Valuation is here to help you in the process of starting a business ! To start a business using an SBA loan , finding a quality SBA lender is key. It can become a reality!

Start-ups 52

Start-ups Business Valuation Finance eCommerce 52

Brian DeChesare

FEBRUARY 16, 2022

One of the more controversial industry groups is public finance investment banking. The controversy starts with the name: Is public finance “really” investment banking? You could argue this either way, but the short answer is yes , public finance still counts as investment banking. more limited exit opportunities).

Finance 65

Finance Banking Equity Marketability 65

Equidam

SEPTEMBER 13, 2023

No matter if the company starts from scratch or not, the final outcome is the growth rate and the argumentation that makes it achievable. Companies that start from scratch will of course find it easier to grow their revenues at higher percentage rates.

Start-ups 119

Start-ups Banking Marketability Technology 119

Brian DeChesare

SEPTEMBER 14, 2022

The commonality is that they can be useful side doors into the finance industry, especially if you got started late , earned lower grades , or did not complete enough internships : What is a “Credit Analyst”? Investment banks, investors, and lenders then use these ratings in their analyses. And What Do They Do?

Finance 79

Finance Banking Corporate Finance Start-ups 79

Brian DeChesare

MARCH 8, 2023

But a few related areas, such as commodity desks at banks, commodity trading advisors (CTAs), and physical commodity trading shops could put up a good fight for that “most cyclical” title. Commodity trading desks within sales & trading at the large banks. You’ll be based in the U.S., per bushel. and sell a $12.00

Finance 110

Finance Start-ups Banking Alpha 110

Chris Mercer

MAY 19, 2023

This post was originally written for Mercer Capital’s Family Business Director Blog and offered advice to family business directors based on my observations following the failure of Silicon Valley Bank on March 10, 2023. This failure was followed by Signature Bank on March 12, 2023, and First Republic Bank on May 1, 2023.

Banking 98

Banking Treasury Start-ups Marketability 98

Viking Mergers

FEBRUARY 27, 2023

These are best suited for self-employed people or business owners with up to a few employees. (A A Simple IRA is better for larger businesses with up to 100 employees.) Starting with the 2022 tax year, you can deduct up to $1,080,000 for depreciation under the Section 179 deduction.

Start-ups 130

Start-ups Banking Marketability Technology 130

Lighter Capital

JULY 22, 2023

SaaS companies often start generating revenue much earlier compared to startups in other tech categories. Banks are notoriously , averse to lending to SaaS startups. If you have $5M annualized revenue, a , tech bank may have products that are similar to MRR lines for you. For investors, SaaS means security.

Finance 98

Finance Equity Equity Financing Banking 98

Musings on Markets

JANUARY 30, 2023

Just as rising equity risk premiums push up the cost of equity, rising default spreads push up the cost of debt of companies, with the added complication of higher default risk for those companies that had pushed to the limits of their borrowing capacity in a low interest-rate environment.

Treasury 74

Treasury Start-ups Risk Premium Equity 74

IVSC

SEPTEMBER 30, 2022

New Trustees were confirmed by the IVSC’s Nominations Committee during the 2022 AGM in Fort Lauderdale and will take up their roles from October 2022, on an initial three-year term. Seshadri (India) , a Qualified Chartered Accountant, started his career with Arthur Anderson.

Banking 246

Banking Start-ups Marketability Finance 246

M&A Leadership Council

AUGUST 17, 2023

Ray’s experiences with Fortium partners include advising a start-up on automation of Insurance Property & Casualty front and back-office automation, separation and integration of a manufacturing company following a private equity acquisition (9 months) and digital transformation (18 months) of a New York based Investment Bank to implement a hybrid (..)

Start-ups 52

Start-ups Technology Banking Equity 52

IBG Business

APRIL 25, 2024

economy and the market for closely held companies are off to good starts in 2024. The combination of pent-up demand, banks getting back in the lending game, and general confidence in the market is sparking a surge in deal activity.” After a disappointing 2023 in middle-market M&A, both the U.S.

Start-ups 52

Start-ups Banking Marketability Equity 52

Appraisers Blog

JANUARY 4, 2024

Retired, so glad to be out of this mess that has been conjured up by several entities related to the real estate transactions.

Appraisal 71

Appraisal Start-ups Banking 71