I know investment banking is m&a and raising capital through debt and equity markets, so how is the latter different from DCM/ECM? I've looked through this forum and there are pretty contradictory views of what activities fall under which category so itll be great if someone can clear it up for me.
thanks!
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There are plenty of other businesses besides m&a. But in the context of M&A, IB finds the targets and pitch the business, negotiate what price to pay and in what form they are paid. If cash is a component, then DCM/ECM comes in play to fund the cash portion.
DCM and ECM are part of the Investment banking business, no?
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