How Did The Modern Investment Bank Of Today, Come To Be?
For numerous finance aspirants and enthusiasts, throughout the ages, these global investment banks, have become symbols, which inspire awe, curiosity and intrigue. They have been on the global scene since a long time, comfortably co-existing beside, the major rise and fall of the global trade and capital, over the years. Let’s being with the historical perspective, when the father of economics, Adam Smith, famously stated that capitalism, is symbolic of an invisible hand guiding the market and directing it in the allocation of goods and services. There was a time when the key players in the field of finance, were the countries of Britain and the Netherlands. Then came the era of two distinct banking models, emerging at the height of their popularity. The merchant banks, which went to become symbolic as an inspiration for all the financial firms, which many leading families would soon establish, in what was to become the present day market. While the older version of thes...