Insegnamento a.a. 2025-2026

20131 - INVESTMENT BANKING

Department of Finance

Course taught in English
Go to class group/s: 44 - 45 - 46
FIN (6 credits - I sem. - OB  |  SECS-P/11)
Course Director:
STEFANO GATTI

Classes: 44 (I sem.) - 45 (I sem.) - 46 (I sem.)
Instructors:
Class 44: STEFANO GATTI, Class 45: STEFANO GATTI, Class 46: TO BE DEFINED


Mission & Content Summary

MISSION

In 2024, the 5 Global Financial Institutions ranked in the first five positions of the annual Refinitiv League Tables advised about 3.2 tn USD of M&A transactions, arranged 36 bn USD IPOs and helped customers place about 2.0 tn USD of global bonds. Although far away from the record peaks of 2021, such figures indicate the relevance that Investment Banking services are playing in the context of financial and capital markets worldwide. The knowledge of which services are provided by these institutions and the understanding of the practice of business in the different products available to the different type of customers – corporate entities, financial institutions, governments/public entities and supranational bodies – are an essential part of the curriculum of a finance student. The course mission is the analysis of the main investment banking business areas. Every business is covered in terms of: a) Asset valuation; b) Deal pricing; c) Deal structuring; d) Processes followed during the transactions and roles played by the investment bank/financial advisor.

CONTENT SUMMARY

After an introduction focused on how modern financial institutions set up their strategies in the investment banking competitive arena, the course analyzes the business segments and the products offered to customers. The course is structured in five modules:   Debt capital markets: syndicated loans and corporate bonds issues. Equity capital markets services: IPOs, seasoned offers, hybrid securities. Private equity, LBOs and acquisition financing. Corporate financial advisory and M&A. Corporate restructuring and corporate distress.


Intended Learning Outcomes (ILO)

KNOWLEDGE AND UNDERSTANDING

At the end of the course student will be able to...

1. Identify the key strategic areas of the investment banking business

2. Recognize the customers' financial needs and define a proper financial solution among the products available in the investment banking area

3. Estimate the financial needs of a customer and identify the best combination of financial products to optimize the customers' performance

APPLYING KNOWLEDGE AND UNDERSTANDING

At the end of the course student will be able to...

1. Design a proper financial solution for complex non-recurring corporate strategies using the products of investment banking

2. Organize the steps of the process for the execution of complex financial transactions (debt and equity capital markets, M&A, private equity deals)

3. Prepare effective presentations to introduce complex products to a potential corporate customer


Teaching methods

  • Lectures
  • Guest speaker's talks (in class or in distance)
  • Practical Exercises

DETAILS

The learning experience of this course is mainly based on face-to-face lectures.

  • However, each of the five modules is accompanied by case discussions and presentations by external guest speakers. The use of cases and external speakers aims at better connecting the body of knowledge covered in the course with real life examples, typically focused on complex investment banking transactions.
  • The interaction between the instructor and students during the case discussions and the presentations helps students understand how professionals in the field approach a transaction and organize it in a structured process going from the deal origination to the final deal execution.
  • Exercises are very helpful to apply real-investment banking tools and methodologies.

Assessment methods

  Continuous assessment Partial exams General exam
  • Written individual exam (traditional/online)
  x x

ATTENDING AND NOT ATTENDING STUDENTS

For all students.

 

Students have the possibility to choose two options:

 

  1. 2 partial exams. In this case, the final mark is determined as the average of the marks on the 2 partial exams (provided that both exams receive a mark of at least 18/30). The partial exams will include exercises and multiple choice questions. The timing for the exam is generally between 45 and 60 minutes.
  2. 1 final exam on all the topics covered in the course after the course completion. The full exam includes exercises and multiple choice questions.The timing of the exam is generally between 50 and 60 minutes.

 

The questions of the written exam require either to focus on some specific issues discussed during the course or to apply the concepts to numerical examples and mini cases.

 

The final objective of the exam is to verify the students’ capabilities and mastery to collect and to organize information and numerical data to solve some of the problems faced by corporate and institutional clients working with investment banks and financial conglomerates.


Teaching materials


ATTENDING AND NOT ATTENDING STUDENTS

  • Slides and ad hoc readings available in the Bboard Platform.
  • Text of case studies available in the Bboard Platform via Bocconi Library’s Course Reserves.
  • Exercises available in the Bboard Platform.
Last change 29/04/2025 09:59