Investment Banking 101

About The Author


Kevin Romanteau is a former investment banker, investor, and writer who has helped hundreds of people navigate the finance world.

Inspired by his family business, Kevin developed a fundamental understanding of the commodity markets from an early age. The seeds of his intended career trajectory were planted early in his life, as he grew up in a small village on the Western coast of France. He started working after school when he was old enough to support his family and during the weekend on the family farm.

This experience gave him a better understanding of commodities’ logistics and inner workings. He also understood that the most vital force affecting agricultural decision-making was finance, so he paid close attention to the stock market, and at 16, his burgeoning interest in financial markets led him to start investing in the equity markets, which put him in the spotlight.

Kevin graduated from London Business School with an Executive Master’s degree in Finance. Before now, he worked for four years as an EMEA investment banker at BNP Paribas, Société Générale, and Citi Bank. In doing so, he progressively mastered the art of investment bankingacross a wide range of sectors.

Passionate about shareholder activism, he published ‘The Golden Age of Activism Investing,’ which has been cited in many articles and resulted in advisory and speaking engagements with the French Ministry of Economy & Finance and at the Middle East Investment Summit, respectively.

Kevin has always shared his vast knowledge, expertise, and insight with students interested in a career in financial services and has extensive teaching experience from lecturing at a French business school and one-on-one training. He has helped 400+ students score internships and jobs in the most prestigious financial institutions.

Kevin has utilized his multi-faceted perspectives, that of a private investor, a former master’s student, a corporate finance lecturer, and a former investment banker, to author several books. including Investment Banking 101: Quicksheet to the Art of Private Equity, Merger & Acquisition, IPOs, Credits and Investment Banking 101: How to Break into Investment Banking, Private Equity, Hedge Fund.

But there’s more to him than finance and trading. Kevin Romanteau enjoys adventure. He was a former triathlete and even qualified to complete the Red Bull Element in 2012, a one-of-a-kind relay bringing together disciplines that rarely cohabit: swimming, trail running, paragliding, and mountain biking.

Today, Kevin still enjoys regular military training with former Special Forces militaries, running his L/S equity portfolio, and sharing his knowledge and resources with others.

Published Books


Investment Banking 101: How to Break In

Investment Investment Banking 101: How to Break into Investment Banking, Private Equity, Hedge Fund is the ideal complement to Kevin’s first book, Investment Banking 101: Quicksheet to the Art of Private Equity, Mergers & Acquisition, IPOs, Credits. It was intended to enable undergraduates and MBA students to truly master the interview process and refine their core skills to secure summer, graduate, off-cycle roles or full-time jobs.

Kevin understood well how challenging starting a career in Investment Banking could be, a career option often difficult to access, with intense competition, high pressure, and limited positions. Fortunately, he identified and learned several concrete and structured processes to help candidates shine in their interviews.

It shares step-by-step processes and industry ins and outs to help prepare readers for their big break into Wall Street, giving them a higher chance at landing their dream job.

Investment Banking 101: Quicksheet to the Art of Private Equity, Merger & Acquisition, IPOs, Credits

Investment Banking 101: Quicksheet to the Art of Private Equity, Merger & Acquisition, IPOs, Credits is a concise yet reliable and comprehensive reference manual that covers the fundamental aspects of financial analysis, valuation, LBOs, IPOs, mergers & acquisitions, credit analysis, and ratings.

The book aims to fill the noticeable gap in financial academic content, which tends to focus on theory without sufficient context and practical application, giving students and finance novices a more accurate picture. It focuses on the primary valuation methodology currently used within sell-side and buy-side industries.

Investment Banking 101 ‘Quicksheet’ can be utilized by students, instructors, or professionals alike in the equity research, investment banking, private equity, or hedge fund industries and can help you understand the layouts of the financial statements and accounting principles, learn vital valuation concepts, and genuinely appreciate the equity capital markets and credit analysis & rating process.

Investment Banking 101: 500+ Technical Q&As

Investment Banking 101: 500+ Technical Q&As, the third of the Investment Banking 101 series, is an unmatched problem solver that addresses the most frequently asked questions in investment banking, sales & trading, private equity, hedge fund, project finance, and infrastructure.

Loaded with the most asked questions on Investment Banking, it provides easy-to-understand, structured answers. It allows undergraduates, MBA students, career switchers, instructors, or professionals to extract necessary information easily.
It contains over 500 questions and answers, including multiple real-world case studies that enable you to truly master and refine the core skills of the successful investment professional.

Public Speaking

Kevin has been recognized for his pervasive knowledge in his field and has gotten multiple opportunities to share this with others. He has spoken at various global and local conferences where key details about trading, investment, and finance were discussed.

FACTSET

In May 2023, FactSet, a highly valued data, software, and analytics company, invited Kevin and Alexandra Gaillard to speak on their new book, Investment Banking 101, and educate their employees on how FactSet can better service their Investment Banking & Equity research users, especially with sector-specific data, in Paris, France.

BFM ACTIVISM

He has also been featured on BFM Businesson France’s most-watched business channel, BFM TV, where he spoke about Activism and presented his white paper “The Golden Age of Activism Investing.” In addition, he has attended multiple national and international conferences to present his research and analysis on shareholder activism.

MEIS

In May 2018, Kevin was invited to the Middle East Investment Summit in Dubai to enlighten attendees on shareholder activism and how it benefited the market and society. The Middle East Investment Summit provides the ultimate platform for industry professionals such as regional and global sovereign wealth funds, family offices, private and institutional investors, high-level fund managers, and economists. Previous speakers on the activism topic include Bill Ackman, founder of Pershing Square, and John Paulson, founder of Paulson & Co.

M&A AWARD

Kevin Romanteau and the BNP Paribas team have received the MENA Merger & Acquisition award for MENA M&A Financial Advisor and Consumer M&A Financial Advisor of the Year.

TALENT TRADING

Kevin Romanteau’s history of trading and investments spans over a decade. Although he grew up in a small village on the Western coast of France, his thinking wouldn’t be limited by the constraints of living in a small community. 

At a time when children his age would be playing with friends or relaxing after school, Kevin’s hard-working nature, determinedness, and love for his family compelled him to go the extra mile. He started working after school to help to support them and would work on the family farm on weekends. Although this may have seemed like a hard life to some, Kevin saw the brighter side and gained invaluable experience that gave him a better understanding of the inner workings of businesses.

By age 16, Kevin had started his education and first investments by reading weekly financial newspapers and trading books. He kept track of the constant fluctuations in share prices. He began to build his models candidly; he tried to figure out the offer-demand impact on prices by connecting the dots between the Chinese government’s official statements, Russian crops satellite pictures, and the drought from El Niño.

Eventually, his hard work and investment paid off. Kevin became the only candidate of 3,500 competitors to qualify twice in a row with over 100% performance in the most prominent French trading Competition, “Les Talents du Trading,” in 2015 & 2016, organized by Saxo Bank and BFM TV, which was broadcast on live tv. Kevin Romanteau channels his inspiration, talent, and experience into his teachings and books to make it possible for someone else to achieve what he has and more.

1:1 Coaching

Online 1:1 coaching session one time per month with Kevin.

Only 5 seats available. First registered, first served!

Book an online session to speak directly with our Coaching Specialist for career counseling, CV and Cover Letter, mock interview, stock pitch review. Contact us for more information.

Resume / Cover Letter editing service. A line-by-line edit of your resume / CV to attract the attention and interest of Investment Bankers and Private Equity, Hedge Fund, other investment professionals and present your academic and professional history in the best light possible. The price is €100 per document. Contact us for more information.

Stock Pitch

CA-FR

Consumer – Unit Economics

CA-FR – Consumer – Unit Economics

Carrefour is is a French food retailer operating in operates in segments of hypermarkets, supermarkets, convenience stores and cash & carry w/ mkt cap. of €12.1bn – avg daily vol. 3mth 1,735,970. Demystify “Carrefour La Grande Arnaque” book from ex. Legal Director, Head of Litigation at Carrefour.

WGO – Consumer – Short pitch

Winnebago Industries is a North American manufacturer of motorized and towable recreational vehicles (RVs) w/ mkt cap. of €2.3bn – avg daily vol. 3mth 424,768. According to RV Association, shipments will drop by -40% in ‘23 aligned w/ previous cyclical impact from ‘08. WGO revenue declined by 30% in ’08 and 65% in ‘09. Assumes that temporary tailwind will dissipate leading to Inventory 101 cycle: weak demand, weak consumer pill-trough, heavy inventories, weak pricing drives weak gross margin.

WGO

Consumer – Short pitch

GTT – LNG

Engineering – Long pitch

GTT – LNG/Engineering – Long pitch

Gaztransport et Technigaz is a French engineering company specialized in containment systems for transporting and storing LNG w/ mkt cap. of €3.5bn – avg daily vol. 3mth 69,683. LNG vessel delivery growth is inevitable and GTT plays a key role in shipbuilding. Concerns about regulatory risk and margin compression are mostly noise and GTT’s ability to execute its growth opportunity profitably remains intact and underpriced.

LNN – Agricultural Machinery – Long pitch

Lindsay Corporation is a U.S company providing a variety of proprietary irrigation for agriculture such center-pivot and hose reel as well as roads infrastructure products and services w/ mkt cap of $1,312m – avg daily vol. 3mth 101,997.  Irrigation is a niche market that has a positive trend – forecast ~7-8% CAGR N5Y. 2023 uncertainty on inflation, interest rates, general economic, and commodity prices – farmers havea dopted a wait-and-see approach, deferring investment decisions despite active quotation.

LNN

Agricultural Machinery – Long pitch

Uber

Transportation – Unit Economics

Uber – Transportation – Unit Economics

Uber Technologies has become the largest on-demand ide-sharing provider in the world (outside of China) w/ mkt cap. of €97.1bn – avg daily vol. 3mth 21,130,832. Uber has many characteristics of an interesting stock w/ huge TAM, fast growing revenue, ttransformational product with super-fans. Despite reaching big scale, Uber has been cash incinerator, still losing operating profit per trip.

Stock Pitch

CA-FR

Consumer – Unit Economics

CA-FR – Consumer – Unit Economics

Carrefour is is a French food retailer operating in operates in segments of hypermarkets, supermarkets, convenience stores and cash & carry w/ mkt cap. of €12.1bn – avg daily vol. 3mth 1,735,970. Demystify “Carrefour La Grande Arnaque” book from ex. Legal Director, Head of Litigation at Carrefour.

WGO

Consumer – Short pitch

WGO – Consumer – Short pitch

Winnebago Industries is a North American manufacturer of motorized and towable recreational vehicles (RVs) w/ mkt cap. of €2.3bn – avg daily vol. 3mth 424,768. According to RV Association, shipments will drop by -40% in ‘23 aligned w/ previous cyclical impact from ‘08. WGO revenue declined by 30% in ’08 and 65% in ‘09. Assumes that temporary tailwind will dissipate leading to Inventory 101 cycle: weak demand, weak consumer pill-trough, heavy inventories, weak pricing drives weak gross margin.

GTT – LNG

Engineering – Long pitch

GTT – LNG/Engineering – Long pitch

Gaztransport et Technigaz is a French engineering company specialized in containment systems for transporting and storing LNG w/ mkt cap. of €3.5bn – avg daily vol. 3mth 69,683. LNG vessel delivery growth is inevitable and GTT plays a key role in shipbuilding. Concerns about regulatory risk and margin compression are mostly noise and GTT’s ability to execute its growth opportunity profitably remains intact and underpriced.

LNN

Agricultural Machinery – Long pitch

LNN – Agricultural Machinery – Long pitch

Lindsay Corporation is a U.S company providing a variety of proprietary irrigation for agriculture such center-pivot and hose reel as well as roads infrastructure products and services w/ mkt cap of $1,312m – avg daily vol. 3mth 101,997.  Irrigation is a niche market that has a positive trend – forecast ~7-8% CAGR N5Y. 2023 uncertainty on inflation, interest rates, general economic, and commodity prices – farmers havea dopted a wait-and-see approach, deferring investment decisions despite active quotation.

Uber

Transportation – Unit Economics

Uber – Transportation – Unit Economics

Uber Technologies has become the largest on-demand ide-sharing provider in the world (outside of China) w/ mkt cap. of €97.1bn – avg daily vol. 3mth 21,130,832. Uber has many characteristics of an interesting stock w/ huge TAM, fast growing revenue, ttransformational product with super-fans. Despite reaching big scale, Uber has been cash incinerator, still losing operating profit per trip.

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