Investment Bank - Viewing M&A Advisory from the Service Operations Perspective

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    Investment Bank - Viewing M&A Advisory from the Service Operations Perspective - Presentation Transcript

    1. Service Operations in M&A Advisory function of Investment Banks Saurabh Ranadive Sarang Bhutada Service Operations – MS556
      • What is it?
      • An intermediary between the capital markets and corporations
      • Offers strategic advice and financial analysis on Mergers & Acquisitions, Divestitures, and Capital Structure
      • Offers Equity and Fixed Income Underwriting (e.g.. IPO’s, High Yield Offerings)
      • Provides asset management advice to high net worth individuals and institutions
      • Provides Sales and Trading of Equity, Bonds Derivatives
      • Offers research and advice on publicly listed stocks and bonds to institutional and individual investors
      Investment Banking Investment Banking
        • Financial Institutions
        • Industrials
        • Global firms
      Equity Capital Markets Investment Grade Capital Markets Leveraged Finance Bond Finance M&A Advisory Derivatives
        • Common Stock
        • Convertibles
        • Private Placements
        • IPOs
        • Emerging Markets
        • Financial Institutions
        • Investment Grading
        • Liability Management
        • Bank Loan Markets
        • Leveraged Finance
        • Structure Management
        • Restructuring / Distressed Finance
        • Commercial Paper
        • Infrastructure
        • Public / Private Partnerships
        • Bankruptcy Restructuring
        • Equity Derivatives
        • Municipal Derivatives
        • Swaps Marketing
      Introduction
        • Valuations
        • Sales/
        • Divestitures
        • Mergers
        • Leveraged Buy-outs
      • What is typical of the M&A Advisory?
      Introduction
      • What does demand depend on?
      • Studies on reports by Nomura, Goldman Sachs revealed
      • Demand is ad-hoc, driven by business and economic cycles
      • Idle time of front-office employees is often utilized by training and scouting for deals
      Managing Demand
    2. Facility Design
      • Revenue per customer is typically very high for iBanks
      • Most banks work on only a handful of deals every year
      • The service facility thus assumes prime importance, not in terms of the attributes of layout,
      • but rather the quality of it
      • Prime location, in prime buildings in prime areas of the city
      • Interiors are expected to have symbolic meanings and are expected to influence
        • Mood
        • Attitude
        • Comfort
    3. Service Design Client Investment Banking Coverage Officer Technology Support Accountants Associate Analysts Capital Markets Compliance Legal
      • Typical M&A work is performed by a ‘deal team’
      • Service Encounter takes place at many levels within the team
      • It is ensured that front office always has adequate capacity
      Technology affects all levels, aids the server in serving customer
    4. Asset Portfolio strategy Executive Management Line of business IT organisation - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Target Identification Valuation Screening Regulatory checks Bid Financing strategies Analytics Market Research Negotiation Legal compliance Synergy Evaluation Advisory Deal Communication Operational Due Diligence Tax Audit Technology Due Deligence Transformation & Consulting Regulatory Compliance Strategic Integration Operational Management Integration Planning and Implementation Integration Execution Application Modernization Consolidation Outsourcing Divestment & Exit Synergy Review Post Close Business Review Operational Model Design Detailed Business Plans Reports and Dashboards
    5. Critical Success Factors
      • What is the likely potential of this relationship?
      • What resources are required to fulfill this potential?
      • Where do the threats to this relationship come from?
      • Where does this relationship fit within the context of the company’s overall operations and resource allocation in that market?
      • Are the current efforts devoted to the relationship appropriate to this overall strategy?
      • Are we over-committed to this customer?
      • Finally, are our ways of dealing with this customer appropriate both to its needs and our strategy or are they based on habit or history?
      Client Relationship Future needs of raising Capital Low High
    6. Bank Selection Criteria ** Source:Marketing and investment banking II: relationships and competitive advantage by Peter W. Turnbull and Theofanis Moustakatos
    7. Critical Success Factors
      • +
      Live Case
      • Brokered by Nomura, Japan
      • Thank You!

    + Sarang BhutadaSarang Bhutada, 2 months ago

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