The investment banking industry has always been characterized by significant change (e.g., regulatory, technology, risk, globalization, product development, asset allocation, client needs). However, during and after the financial crisis the strategic issues facing investment banks were and are changing at an unprecedented pace which has resulted in a great deal of uncertainty.
This course is designed to help those interested in evaluating an industry undergoing rapid change; those interested in working in investment banking; those interested in working in management consulting; and those interested in learning more about the financial system. Whether you plan on working in management consulting and advising investment banks or at a not-for-profit organization dependant on contributions from those working at financial institutions, you will need to better understand the issues facing these institutions.
In addition, although technical expertise may be important in gaining entry level positions in the financial or any other industry, students who are able to raise their sights to understand and develop perspective into the critical strategic issues facing a complex industry such as investment banking firms today will be the ones to more effectively contribute to their firms and progress to senior management levels.
This focus of this course is the presentation of a number of viewpoints on the critical strategic issues facing investment banks, and the actions that leading companies are taking to address them. This will be achieved in part from presentations by, and discussion with, prominent professionals working at, have been clients of or are advising leading financial services firms. These individuals will address the issues currently faced by their organizations and the strategic actions currently being taken.
In addition, students will learn how to design and implement a coherent strategy to address a critical strategic issue facing an investment bank through lecture, discussion and case analysis. Students will complete a strategic study project based on the investment bank and issue of their choice.
Steven Mandis was a Columbia Business School faculty member from 2010 to 2016.