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Sponsors for Educational Opportunity Investment Banking Overview Part 2

Sponsors for Educational Opportunity Investment Banking Overview Part 2 . Patrice Mitchell & Andrea M. O’Neal Co-Managers, Investment Banking Program. Roles within Investment Banking. Managing Director Manages the relationship between the client and the bank

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Sponsors for Educational Opportunity Investment Banking Overview Part 2

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  1. Sponsors for Educational Opportunity Investment Banking Overview Part 2 Patrice Mitchell & Andrea M. O’Neal Co-Managers, Investment Banking Program

  2. Roles within Investment Banking • Managing Director • Manages the relationship between the client and the bank • Negotiates terms of the deal and fee structure • Vice President • Manages the deal/pitch process • Reviews all work before it goes to the MD • Associate • Checks the analyst(s)’ work • Analyst • Builds the financial model • Performs valuation analyses • Constructs the pitchbook • Summer Analyst • Assist the analyst

  3. Analyst Responsibilities • Performing financial valuation, discounted cash flow (DCF) and multiples-based analyses (comps) • Building and using financial models • Financial models are tools constructed in Microsoft Excel used to forecast a Company’s operating performance • Preparing presentation materials and drafting registered documents for the SEC • Pitchbooks are presentations made to clients highlighting idea(s) to address company-specific needs • Drafting sessions are meetings between the client, bankers and lawyers where the aim is to generate a “clean” document for the government and potential investors • Conducting industry and product research

  4. Attributes of a Good Analyst / Summer Analyst • Attention to detail • Strong work ethic • Quick learner • Ability to communicate effectively • Understanding of accounting principles • Solid quantitative, analytical and technical skills • Familiarity with Microsoft Office – tech savvy

  5. Benefits of a Position within Investment Banking • Exposure • Unrivaled access to senior management of multinational and multibillion-dollar corporations • Prestige • Advising corporate clients on financings and M&A opportunities • Participation on the “headline grabbing” deals • Transferable Skills • Modeling • Valuation – Comps, DCF • Financial Statement Analysis • Multitasking, proven work ethic

  6. Day in the Life • 9:00 a.m. – Rush out of the apartment to the subway station for a 30-minute commute. • 9:30 a.m. – Quickly check e-mail, calendar and status of current projects • 10:00 a.m. – Quickly browse the Wall Street Journal, Yahoo! Finance and Bloomberg to get up to speed on market news • 10:30 a.m. – Start working on the ever-growing list of things to do. Review financial model for project #1 before sending it to other members of the deal team. Prepare comps for project #2. • 1:10 p.m. – Grab lunch; sometimes an hour, most of the time you need to eat at your desk. • 1:30 p.m. – The associate on project #1 reviewed the analysis and provides constructive comments, which are “turned” (incorporated) into the model. • 2:30 p.m. – Conference call to discuss model for Project #1, which produces more issues/questions that need to be addressed. • 3:30 p.m. – Start the pitchbook presentation for project #2 by putting together a “shell” (outline). • 4:00 p.m. – Grab coffee with co-workers • 4:15 p.m.– Get back to the office and get cranking on the revised model; Complete revisions and send to the deal team before 6:00 p.m. deadline. Send shell of presentation (Project #2 to associate) • 5:30 p.m – Send out the revised model (after the associate review it)

  7. Day in the Life (cont.) • 6:00 p.m. – Start working on project #3; this one requires updating an old pitchbook for a different client with current market data • 7:30 p.m. – Dinner time. Order with a bunch of colleagues from online delivery service • 8:30 p.m. – Return to cubicle with a heavily, marked-up copy of the presentation for project #3 • 11:00 p.m. – After turning all the comments, send the revised version to associate who does a final review and sends it to Production. • 11:15 p.m. – Reopen the model for project #1, continue working on analysis • 12:30 a.m. – Finish up the comps for project #2, send them to the associate for review. • 1:00 a.m. – Production calls to inform the analyst the books are done; “Flip the books” which means turn each pitch book to make sure all pages were printed correctly and are in the appropriate order • 1:30 a.m. – The books are flipped and send them by car service to one of the attendees of the meeting the following day. 2:15 a.m. – Stop working on model and comps when all previous comments are incorporated and issues are resolved; catch a cab to get home; rest for another busy day

  8. Next Steps • Zoologic • Intro. to Securities Markets • Intro. to Corporate Finance • Intro. to Analyzing Financial Statements • Time Value of Money • Intro. to Equity Valuation • Recommended reading list • Training the Street: Valuation • Liar’s Poker • Monkey Business • Vault Career Guides • Invest Banking • Finance Interviews (quick math and case study) • Top 50 Banking Employers • Webinars • SEO alums • Enroll in finance and accounting courses

  9. More Resources • Periodicals • Wall Street Journal • Financial Times • BusinessWeek • Internet • http://dealbook.blogs.nytimes.com/ • http://finance.yahoo.com • http://money.cnn.com • http://bloomberg.com • http://investopedia.com • SEO Partner Firm websites • Television • CNBC

  10. Questions? Patrice Mitchell pmitchell@seo-usa.org Andrea O’Neal aoneal@seo-usa.org

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