Do investment bankers have a code of ethics?

The Code of Ethics must set out how the investment bank approaches its clients, and clearly explain the ethical duties with regard to different groups of clients/customers (if any differentiation is made).

Why do investment banks have a bulge bracket?

Why are they called bulge bracket (BB)? The banks are listed in sequential order based on the role they play in the deal, from most important to least important. The font size of the banks at the top are larger and bolder – they “bulge” out.

What is the criticism of investment banks?

Criticisms. The investment banking industry, and many individual investment banks, have come under criticism for a variety of reasons, including perceived conflicts of interest, overly large pay packages, cartel-like or oligopolistic behavior, taking both sides in transactions, and more.

Which bulge bracket banks pay the most?

JPMorgan Chase & Co. ranked as the highest paying investment bank, with compensation nearing the 99th percentile. Other well-paying banks include Wells Fargo & Co., Houlihan Lokey, Bank of America Corp. and Goldman Sachs Group.

What are the ethical issues in banking?

The review of literature revealed that there are numerous ethical issues prevalent in the banking industry, like lack of proper ethics training, trust and transparency issues, growing pressure of competition, complexity of banking operations, issue of money laundering, and so on.

What ethical guidelines should a bank manager follow?

* Ensure a fair return to the depositors and safety of deposits. * Minimize spread between cost of funds and lending rates. * Engage in transparent accounting practices. * Comply with all laws, rules and regulations promulgated by relevant regulatory authorities.

Which banks are considered bulge bracket?

As a catchall term for this class of large global investment bank, “bulge bracket” commonly refers to Bank of America Merrill Lynch, Goldman Sachs, Barclays Capital, Credit Suisse, Deutsche Bank, JPMorgan Chase, Citigroup, Morgan Stanley, and UBS.

Why are bulge brackets better than middle market brackets?

Middle markets are usually more specialized than bulge brackets, but less specialized than boutiques. As their name indirectly suggests, they are somewhat in the “middle” of these types of banks in many regards. Bulge brackets almost always work on deals worth more than deals middle markets work on.

What are the challenges of investment banking?

The challenge for the investment banking industry revolves around higher capital charges, market electronification & digialisation, stuck cost base, inflexible and layered technology with increased complexity of regulation and reporting.

Why is Wells Fargo not a bulge bracket?

are NOT bulge brackets because they’re not diversified in the same way. For example, Wells Fargo always does well in debt capital markets, but it’s much weaker in M&A advisory and equity capital markets. Some of the Chinese and Japanese banks specialize in one product, region, or deal type, as well.

Is Goldman Sachs a bulge bracket?