Outline

Overview

The central objective of this unit is to provide students with an understanding of the activities of private and investment banks, the regulation of these industries and the developments and challenges facing them. The unit examines private banking from the perspective of clients, services and the business model employed. Investment banking activities examined include investment banking financing activities, advisory services, trading and asset management. Topics covered include: the theory and practice of private and investment banking and their roles within the financial systems of modern economies, M and A advisory, corporate restructuring, syndicated lending, underwriting, securitization, private banking, trading in debt, foreign exchange and equity markets, asset management and the implications of regulatory and other industry developments.

Unit details and rules

Academic unit	Finance
Credit points	6
Prerequisites ?	BANK2011 or ECOS2004 or FINC2011
Corequisites ?	None
Prohibitions ?	None
Assumed knowledge ?	BANK3011
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Guangqian Pan, guangqian.pan@sydney.edu.au
Lecturer(s)	Guangqian Pan, guangqian.pan@sydney.edu.au

Type	Description	Weight	Due	Length
Supervised exam ?	Final exam Final exam with a page of double-sided 4A cheat sheet.	40%	Formal exam period	2 hours
Outcomes assessed:
Presentation	Individual presentation n/a	10%	Multiple weeks Due date: 26 May 2023 at 12:00	10 minutes
Outcomes assessed:
Assignment	Individual report n/a	20%	Week 06 Due date: 31 Mar 2023 at 12:00	3 pages
Outcomes assessed:
Presentation	Group presentation n/a	10%	Week 11 Due date: 12 May 2023 at 12:00	10 minutes
Outcomes assessed:
Assignment	Group report (Pitch book) n/a	20%	Week 12 Due date: 19 May 2023 at 12:00	30 slides
Outcomes assessed:
= group assignment ?

Assessment summary

Individual report: It will require students to assume the role of an investment banker and provide an industry analysis to the division’s senior leader team. The key deliverable for this assignment will be a 3 page report, which will be assessed on the extent, quality and use of economic and financial research; the application of relevant tools and methods learnt throughout the unit; and the overall clarity, structure and presentation of the report. The report is due in week 6.
Individual presentation: It will require students to assume the role of an investment banker and provide a news article briefing and analysis to the bank’s senior leader team. The key deliverable for this assignment will be a 10 minutes presentation, which will be assessed on the extent, quality and use of economic and financial research; the application of relevant tools and methods learnt throughout the unit; and the overall clarity, structure and presentation of the report. All individual student presentations will be made during weekly tutorials from weeks 3 to 10.
Group presentation: It will require students to assume the role of an investment banker and “pitch” to a prospective client regarding a potential project. Students will be required to work collaboratively in small groups and synthesise material discussed throughout the unit. The key deliverable for this assignment will be a “pitch book”, which will be assessed on the extent, quality and use of economic and financial research; the application of relevant tools and methods learnt throughout the unit; and the overall clarity, structure and presentation of the ”pitch book”. The presentation is due in week 11.
Group assignment: It will require students to assume the role of an investment banker and “pitch” to a prospective client regarding a potential project. Students will be required to work collaboratively in small groups and synthesise material discussed throughout the unit. The key deliverable for this assignment will be a “pitch book”, which will be assessed on the extent, quality and use of economic and financial research; the application of relevant tools and methods learnt throughout the unit; and the overall clarity, structure and presentation of the ”pitch book”. The pitch book is due in week 12.
Final exam: This exam will cover material drawn from the entire unit. The exam consists of two parts. Part A comprises short answer questions and part B requires the application of theory and practice and write short essays. This is an open-book exam.

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Distinction	75 - 84	Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Credit	65 - 74	Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Pass	50 - 64	Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Fail	0 - 49	When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Week 01	Introduction to private and investment banking	Lecture (2 hr)
Week 02	Equity capital markets	Lecture and tutorial (3 hr)
Week 03	Debt capital markets	Lecture and tutorial (3 hr)
Week 04	Trading and sales in capital markets 1	Lecture and tutorial (3 hr)
Week 05	Trading and sales in capital markets 2	Lecture and tutorial (3 hr)
Week 06	Alternative investments	Lecture and tutorial (3 hr)
Week 07	Mergers and acquisitions 1	Lecture and tutorial (3 hr)
Week 08	Mergers and acquisitions 2	Lecture and tutorial (3 hr)
Week 09	Private banking 2	Lecture and tutorial (3 hr)
Week 10	Financial engineering	Lecture and tutorial (3 hr)
Week 11	Private banking 1	Lecture and tutorial (3 hr)
Week 12	Case study summary and revision.	Lecture and tutorial (3 hr)
Week 13	Developments and challenges facing private and investment banking	Lecture and tutorial (3 hr)

Attendance and class requirements

Lecture recordings: All lectures and seminars are recorded and will be available on Canvas for student use. Please note the Business School does not own the system and cannot guarantee that the system will operate or that every class will be recorded. Students should ensure they attend and participate in all classes.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Stowell, D. (2017) Investment Banks, Hedge Funds, and Private Equity, 3rd edition. Elsevier.

All readings for this unit can be accessed on the Library eReserve link available on Canvas.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. describe and evaluate the role and significance of investment banking and private banking in a modern financial system and the developments and challenges that face them
LO2. identify how investment banks operate in the capital markets to provide financing and investment services through security origination, trading and broking
LO3. assess the role of investment banks in merger and acquisition activities
LO4. develop, apply and recommend strategies using tools and techniques developed in the unit to assess potential acquisitions and the financing of them
LO5. identify how investment banks utilise financial engineering techniques to develop capital market products and services to meet the borrowing and investment needs of their clients
LO6. evaluate the impact of past and emerging trends that affect the growth and significance of private banking services.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered

Additional information

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect

Current students

BANK3014: Private and Investment Banking

Semester 1, 2023 [Normal day] - Remote

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect