3. Topical Vocabulary

Study the Topical Vocabulary and make use of it when discussing a relevant topic:

Chapter 2

1. Headhunting Profession

• ARC’s candidate profile coding: LOB=line of business; Product=specialization: equity, M&A, etc.

• to build up a database

• to arrange/conduct an interview

• to make introductions

• to search for a candidate

• to be appropriate/suitable (of a candidate)

• to take a candidate off a shortlist

• to keep a candidate on the database

• to approach a candidate

• to be career-minded/goal-driven

2. Investment Banking

• investment banking/an investment bank=a merchant bank=a financial institution that performs a variety of services. This includes underwriting (=гарантированное размещение ценных бумаг эмитента=инвестиционный банк покупает ценные бумаги у эмитента, а затем перепродает их инвесторам; все непроданные бумаги банк покупает самостоятельно), acting as an intermediary between an issuer of securities and the investing public, facilitating mergers and other corporate reorganizations, acting as a broker for institutional clients in buying and selling financial instruments and conducting market research for the clients.=инвестиционный банк – это финансовый институт, который специализируется на предоставлении финансовых консультаций, финансировании компаний путем приобретения их акций и последующего размещения акций среди конечных инвесторов, а также на организации слияний и поглощений. Teddy used to work in the corporate finance division at Steinberg Roth (=helping customers raise funds in capital markets and giving advice on mergers and acquisitions). Mike was in charge of the proprietary trading desk=traded in financial markets (mainly Forex) with the bank’s own funds for its profit. From 1933 (Glass–Steagall Act) until 1999 (Gramm–Leach–Bliley Act), the United States maintained a separation between investment banking and commercial banks (=коммерческий банк=принимает депозиты, предоставляет ссуды, производит рассчеты): commercial banks could not issue stocks for companies, while investment banks could not take deposits. Other industrialized countries, including G8 countries, have historically not maintained such a separation.

• an investment boutique=a small investment bank that specializes in primarily investment banking. Usually they work on smaller deals, typically less than a billion dollars, and usually assist on the sell-side in M&A transactions. In addition they sometimes specialize

in certain industries like media, healthcare, industrials, technology or energy. Some banks

may specialize in certain types of transactions or preferred underwriting. Typically,

boutique investment banks have one, two, or three offices and may specialize in advisory

services for certain geographic regions.

• M&A=Mergers and Acquisitions=слияния и поглощения; merger=companies merge by creating a new legal entity to combine their assets and operations, with shareholders of the merging companies offered shares in the new entity; acquisition=a purchase by one company of another, for cash, an exchange of shares, or a combination of both. The process, also known as a takeover, can be friendly and have the agreement of the acquired company or it can be hostile, when the target rejects the approach and tries to resist being acquired.

Chapter 3

1. Employment and Career

• to consider smb. for partnership

• to put in a lot of long hours

• to be overstretched

• upgrading=career realigning=resource reallocation=career alternative enhancement=career change opportunity=decruiting=outplacement=sacking=laying off=giving the boot=giving the big heave-go=passing the pink slip (в терминологии Steinberg Roth все термины означают “увольнение”)

• to be up to the job

• to have smb.’s input on smth.

• to be transferred from… to…

• to make a career move

• a senior executive

• to summon smb.

• a direct boss

• to make a real contribution to smth.

• the Board=Совет Директоров компании

• to blackball smb.= to vote against smb.

• to elect to partner

• to be bright/creative

• professional ability vs. personal conduct

• interpersonal relationships

• (to find) an appropriate post

• a bonus

• ex-gratia (payment)=Latin for "by favour" or “out of goodwill. When something has been done ex-gratia, it has been done voluntarily, out of kindness or grace. Ex-gratia payment is a payment made without the giver recognising any liability or legal obligation=добровольная выплата. A company conducting layoffs may make an ex

gratia payment to the affected employees that is greater than the statutory payment

required by the law, perhaps if those employees had a long and well performing service

with the company.

2. Investment Banking

• to run the trading desk=возглавлять отдел/департамент торговых операций (Mike ran the proprietary trading desk at Steinberg Roth)

• to generate profits

• to keep overheads down=накладные расходы

• to tighten one’s belts=”затянуть поясa”=проводить политику жесткой экономии

• a trainee broker

• a rival product