▁bank ing ▁is ▁also ▁a ▁name ▁used ▁to ▁describe ▁the ▁private ▁equ ity ▁side ▁of ▁a ▁firm . ▁Current ▁examples ▁include ▁De fo e ▁F ourn ier ▁& ▁C ie . ▁and ▁J PM organ ▁Ch ase ' s ▁One ▁Equ ity ▁Part ners . ▁The ▁original ▁J . P . ▁Morgan ▁& ▁Co ., ▁Roth sch ild s , ▁Bar ings ▁and ▁War burg s ▁were ▁all ▁merchant ▁banks . ▁Origin ally , ▁" mer chant ▁bank " ▁was ▁the ▁British ▁English ▁term ▁for ▁an ▁invest ment ▁bank . ▁ ▁Indust ry ▁profile ▁As ▁an ▁industry ▁it ▁is ▁broken ▁up ▁into ▁the ▁Bul ge ▁Bra cket ▁( upper ▁tier ), ▁Middle ▁Market ▁( mid - level ▁business es ), ▁and ▁bout ique ▁market ▁( special ized ▁business es ). ▁There ▁are ▁various ▁trade ▁associations ▁throughout ▁the ▁world ▁which ▁represent ▁the ▁industry ▁in ▁lo bb ying , ▁facil itate ▁industry ▁standards , ▁and ▁publish ▁statistics . ▁The ▁International ▁Council ▁of ▁Sec ur ities ▁Associ ations ▁( IC SA ) ▁is ▁a ▁global ▁group ▁of ▁trade ▁associations . ▁ ▁In ▁the ▁United ▁States , ▁the ▁Sec ur ities ▁Indust ry ▁and ▁Fin an cial ▁Mark ets ▁Association ▁( SI F MA ) ▁is ▁likely ▁the ▁most ▁significant ; ▁however , ▁several ▁of ▁the ▁large ▁invest ment ▁banks ▁are ▁members ▁of ▁the ▁American ▁Bank ers ▁Association ▁Sec ur ities ▁Association ▁( AB AS A ), ▁while ▁small ▁invest ment ▁banks ▁are ▁members ▁of ▁the ▁National ▁In vest ment ▁Bank ing ▁Association ▁( NI BA ).