Banking Academy 2009

We are pleased to launch our Banking Academy 2009. The Academy is aimed at anyone wishing to pursue a career in finance. Past participants have included university students unable to gain a summer internship at an investment bank, MBA students wishing to take part in a tailor made investment banking course, students who have internships & graduate scheme positions at investment banks but wish to be trained independently in order to impress during the graduate scheme exams, PhD students wishing to turn their academic knowledge into practical investment banking tools, sixth form students wishing to get a head start into the world of investment banking & finally middle office investment bankers wishing to make the move into a front office role.

Accommodation is available for international students from July - August 2009.

Price: The fee for our Banking Academy 2009 is £995

Academy overview: Your key to investment banking!

Put your future in focus - benefit from a tailor-made investment banking academy developed and managed by former investment bankers coming from the likes of Goldman Sachs, Merrill Lynch, JP Morgan, Morgan Stanley, UBS and many more of the leading bulge bracket investment banks.

With increased competition for a limited number of graduate roles, and employers being even more selective in their recruitment processes, those looking to build a career in the City, must strive to gain the best possible experience and to set themselves apart from the crowd.

At the centre of the world's financial marketplace, Banking Boot Camp is able to offer a unique and valuable insight into the workings of the City. Our Investment Banking Academy has been specifically designed by investment bankers to provide you with an expert insight to the mechanics that move the City, whilst providing invaluable access to investment banking representatives from London's respected and renowned financial institutions.

Working through an intensive course, our Banking Academy will provide real life investment banking training to students highly focused on a career in finance.

The Banking Academy 2009 will be suitable for students (BSc, MSc, Phd, MBA) wishing to obtain a career at an Investment Bank in the following roles: Global Markets (Trading, Sales, Research & Structuring), Asset Management, Global Finance, Private Wealth Management, Mergers & Acquisitions, Corporate Finance, Technology, Operations, Legal, Credit & HR.

Benefits of the Academy:

Investment Banking standard Intensive financial product and market training
Real Life Trading Floor experience
Rolling Interview process - applicants will be interviewed throughout the process by former investment bankers
Participants will be given invaluable access to a wealth of current investment bankers from the likes of Goldman Sachs, Credit Suisse, HSBC, JP Morgan and others during Breakfast meetings.

Academy Structure:

Stage 1:

Accounting and Financial Statement Analysis

Accounting is the language of business - a must for any student considering a career in finance

Section 1: Introduction to accounting

Accounting Rules
Financial Accounting
Reading Annual Reports

Section 2: Income Statement

Breakdown of each line item analysts typically encounter on an income statement

Section 3: Accounting as a system

The accounting equation
Debits and Credits
Introduction to the balance sheet
Connections between the balance sheet and income statement

Section 4: The Balance Sheet

Breakdown of each line analysts typically encounter on a balance sheet
Relationship to income statement line items

Section 5: Cash Flow Statement

Intuition and breakdown of each line item
Relationship to other 2 financial statements
Final Exercise

Section 6: Ratio Analysis

Calculating and interpreting financial ratios

Excel for Finance

Excel is a powerful tool widely used in investment banks to perform financial and valuation modeling.

Section 1: Learn Excel Basics - menu commands, data manipulation, and formatting

Section 2: Gain Excel proficiency - calculations, functions, formulas, and Excel best practices

Section 3: Understand advanced Excel features - data tables and macros

Section 4: Introduction to modeling techniques, and the role of Excel in Finance and valuation modeling

End of stage 1: Investment Banking Interview session

Academy participants will be given department based tailor made intensive interview sessions by former investment bankers. Participants will be given constructive feedback and will develop their interview & presentation skills.

Stage 2

Corporate Finance

Corporate finance is one of the fundamental building blocks of the investment banking skill set.

Section 1: Time Value of Money

Present and future values of a single cash flow
Present and future values of a series of unequal cash flows
Present and future value of annuities and perpetuities

Section 2: Valuing Bonds

Bond characteristics
Bond prices and yields

Section 3: Valuing Stocks

Introduction to stock valuation
The dividend discount model

Section 4: Ranking Capital Projects

Payback period
Net present value
Internal rate of return

Section 5: The Cost of Capital

Cost of debt
Cost of preferred stock
Cost of common equity
The Weighted Average Cost of Capital (WACC)
WACC and capital structure

Financial Statement Modeling in Excel

Participants develop a model completely from scratch, inputting historical data and assumptions to project out financial statements using step-by-step instruction on selecting, locating, and developing appropriate projection drivers. At completion, participants will have developed a complete and comprehensive three-statement model using various supporting schedules.

Section 1: Introduction to financial modeling

Overview of financial modeling
Understanding projections
Modeling techniques
Excel best practices foundation and exercises
Useful excel shortcuts and functions
Gathering historical documents/information

Section 2: Building the model, step-by-step

Setting up the core financial statements
Working capital, Depreciation & amortization, and other balance sheet items
Shareholders equity & Shares Outstanding

Section 3: Improving the finished product

Controlling circular references using automated circuit breakers
Balancing the model
Scenario analysis
Creating forms in Excel

End of stage 2: Investment Banking Interview session

Stage 3

Valuation and DCF Modeling in Excel

Valuation represents the heart of the investment banking and corporate finance skill set.

Section 1: Overview of valuation modeling

Enterprise value vs. Equity value
Relative vs. Intrinsic value
Calculating and interpreting multiples (PE ratios, EBITDA multiples, etc.)

Section 2: Participants build a complete working DCF model

From accounting profit to levered and unlevered free cash flows - proper methodology and best practices for projections in Excel
Estimating the weighted average cost of capital (WACC)
Applying the two major approaches to calculating terminal value
Using data table to analyze a broad range of scenarios given different assumptions

Equities and Fixed Income

Section 1: Understanding the equity markets

What is Equity
Who Buys and Sells Equity
Key Roles in the Equity Division
The IPO Process
Secondary Market Trading
Ideas on Valuing Markets and Companies
The Major Global Stockmarkets

Section 2: Understanding Fixed Income

Overview of Debt Capital Markets
The structure of the Global Bond Markets
Understanding Bond Mathematics
Pricing a Bond
Understanding duration and convexity
Yield Curves
Governments and Corporates

End of stage 3: Investment Banking Interview session

Stage 4

Derivatives

Section 1: Interest Rate Derivatives

Short and long term interest rates
Exotic swap structures
Bond futures

Section 2: Credit Derivatives

The Credit Derivatives Market
Asset Swaps
Total rate of return swaps (TRSs)
Credit default swaps (CDSs)
Credit linked notes (CLNs)
Collateralized Loan Obligations (CLOs)

Section 3: Equity Derivatives

Equity Options
Pricing Options and Volatility
The Greeks
Equity Futures

Section 4: Swaps

Interest Rate Swaps (IRSs)
Currency Swaps
Equity Swaps

Section 5: Pricing and Trading Options

Option Pricing
Volatility
Trading Strategies

End of stage 4: Investment Banking Interview session

Stage 5 - Real Time Trading Floor Experience

Interns will learn how a trading floor works within a dealing room environment. Our trading experiences have always been an integral part of our teaching and learning style. Our technology and facilities allow you to put theory into practice and are comparable with those used within the financial markets. Interns will experience the thrill and pressures of a live market - take positions, quote two-way prices and manage the risk of $50-100 million trading book. Having these essential practical skills in today's competitive environment, can give you the edge!

End of stage 5: Investment Banking Interview session

Academy Participant Destinations

Academy Participants leave us with a network of former and current investment bankers across banks and asset classes. Historically, this kind of network has resulted to full time graduate and associate positions at Bulge Bracket Investment Banks.

Academy Participants leave us well equipped to pursue a wide range of careers in financial services. Many join investment banks to train as financial markets professionals in trading, sales and research. Some specialize in complex derivative products while others join brokers and commodity traders.

Our participants are also qualified to join the demanding world of corporate finance, Mergers & Acquisitions or specialize in such diverse fields as private banking, project finance and securitized products.

Potential Destinations & Networks our interns are likely to be exposed to:

Goldman Sachs
Deutsche Bank
Commerzbank
KBC
National Bank of Canada
ING
Credit Suisse
UBS
Merrill Lynch
Morgan Stanley
HSBC
Barclays Capital
BNP Paribas
Lehman Brothers
Bank of America
Dresdner
West LB
Nomura
JP Morgan
RBS
Citigroup
CIBC
Lloyds
Bank IMI
Societe General
Natexis