Comments (4)


I interned in the "Finance Department" of a MM Bank last summer.

From what I can tell, they basically fulfill the same functions: Mostly Accounting, Regulatory reporting, managing liquidity (Treasury) and Tax functions. You can add in Corp Strategy at some places, for example Goldman. And then some banks have their Risk Management functions in their "Finance Divisions," using GS again as an example.

Most of what I saw was: Regulatory reporting, Accounting, Tax, Treasury and Risk.

And don't take my word for it, but somehow people tend to think it is less preftigious to work in the Finance Division in Finance, opposed to industry. I honestly do not know why. Seems like GE FP&A is more likely to get you into a better B-School than working in the Finance Division at Morgan Stanley. I am guessing because at Morgan Stanley, you already have people (Bankers, Traders) who are seen as more qualified people to admit into a B-School rather than the guy working in Finance at MS.

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Finance is what James just told you. Corporate Finance (ie. at Barclays or Deutsche Bank) is a specific subdivision within the Investment Banking Department where you provide services to your clients on specific Corporate Finance issue (M&A, strategic alternatives, valutation, etc.).

I'm grateful that I have two middle fingers, I only wish I had more.


Cost center vs. revenue generator


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