While advising companies and helping them raise money is an important part of what we do, we perform several other functions as well. Most major banks are highly diversified in terms of the services they offer. Some of our other income sources include:

• Research: We have large teams that gather information about companies and offer recommendations on buying or selling their stock. They may use these reports internally but can also generate revenue by selling them to hedge funds and mutual fund managers.
• Trading and Sales: Our firm uses a trading department that can execute stock and bond transactions on behalf of their clients. In the past, some banks have also engaged in proprietary trading, where they essentially gamble their own money on securities; however, a recent regulation, known as the Volcker Rule, has clamped down on these activities