The teaching is organized as follows:

Learning outcomes

The aim of the course is to analyze the policies and strategies adopted by financial intermediaries in the field of the private banking and corporate banking. In the first part of the course, the one devoted to private banking (for 6 credits), the focus is on the different solutions managed by financial intermediaries (banks, asset management companies and financial advisor networks) in the financial advisory and in the financial planning services offered to private customers. In the second part of the course, the one devoted to corporate finance (for 3 credits), the focus in on LBO, M&A and the support offered by financial intermediaries to corporate clients willing to to be listed in a stock exchange. A special analysis is devoted also to asset management companies active in the private equity and in the venture capital sector.

Program

For the module devoted to private banking:
The different steps of the investment advisory service:
- the risk tolerance questionnaire
- the strategic asset allocation process
- the tactical asset allocation process
- the inital and periodica suitability evalutaion
- the mapping and ranking of UCITS
- the translation of portfolios into a mix of instruments/products
- the performance evaluation tecniques
- performance attribution.

For the module devoted to corporate banking:
Private equity
Venture capital
Leveraged/management buy-outs
M&A transactions
The role of the asset management company and the advisory company in the management of a closed-end private equity or venture capital fund.

Bibliography

Examination Methods

The exam will be organized with a first part of multiple choice and a second one with case studies to be discussed and exercises to be solved.