Confused on Corporate Banking meaning
Was offered an internship and had to choose between “Corporate” and “Finance” divisions. I chose Corporate because the bank usually refers to investment banking as GCB or CIB.
But now I go to the company website and see corporate is commercial banking and finance has cool stuff like structuring (but also loans, overdraft, invoice...)
I am confused. Did I make the wrong choice ?
'Corporate' and 'corporate banking' are two very different things. 'Corporate banking' refers to a function that works in tandem with the investment bank at some large, full-service BB banks like Citi and JPMorgan, and is often referred to as 'global corporate banking' or 'corporate and investment banking', like you mentioned. Simply 'corporate', on the other hand, usually refers to working in some corporate function of any corporation, usually in back office. Simply 'finance', or 'corporate finance', specifically refers to the back office finance department of a large corporation. The exception is when some investment banks like Deloitte and Duff & Phelps refer to their investment banking function as 'corporate finance'. It's all semantics, which I understand is frustrating... so it's difficult to answer your question without knowing what kind of company and specific positions you are describing.
It’s one of the largest bank in Europe/UK with a pretty big investment banking division.
Is the position you accepted in 'corporate', or 'corporate banking'?
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