ret ail - f oc used " ▁firm ▁with ▁a ▁large ▁bro ker age ▁network . ▁ ▁Organ iz ational ▁structure ▁ ▁Core ▁invest ment ▁bank ing ▁activities ▁In vest ment ▁bank ing ▁is ▁split ▁into ▁front ▁office , ▁middle ▁office , ▁and ▁back ▁office ▁activities . ▁While ▁large ▁service ▁invest ment ▁banks ▁offer ▁all ▁lines ▁of ▁business , ▁both ▁" s ell ▁side " ▁and ▁" bu y ▁side ", ▁smaller ▁sell - side ▁invest ment ▁fir ms ▁such ▁as ▁bout ique ▁invest ment ▁banks ▁and ▁small ▁bro ker - de al ers ▁focus ▁on ▁invest ment ▁bank ing ▁and ▁sales / tr ading / res earch , ▁respectively . ▁ ▁In vest ment ▁banks ▁offer ▁services ▁to ▁both ▁corpor ations ▁issu ing ▁se cur ities ▁and ▁invest ors ▁bu ying ▁se cur ities . ▁For ▁corpor ations , ▁invest ment ▁bank ers ▁offer ▁information ▁on ▁when ▁and ▁how ▁to ▁place ▁their ▁se cur ities ▁on ▁the ▁open ▁market , ▁an ▁activity ▁very ▁important ▁to ▁an ▁invest ment ▁bank ' s ▁reputation . ▁Therefore , ▁invest ment ▁bank ers ▁play ▁a ▁very ▁important ▁role ▁in ▁issu ing ▁new ▁security ▁offer ings . ▁ ▁Front ▁office ▁Front ▁office ▁is ▁generally ▁described ▁as ▁a ▁re venue - gener ating ▁role . ▁There ▁are ▁two ▁main ▁areas ▁within ▁front ▁office : ▁invest ment ▁bank ing ▁and ▁mark ets ▁ ▁In vest ment ▁bank ing ▁involves ▁advis ing ▁organizations ▁on ▁mer gers ▁and ▁ac quis itions , ▁as ▁well ▁as ▁a ▁wide ▁array ▁of ▁capital ▁raising