The term investment banking can usually be interpreted in two ways. First, as any activity an investment bank actually does. This could be sales and trading, principal investment or well… investment banking.

This follows through to the second interpretation of the term, which is: Any activity performed by the investment banking division/department of an investment bank. This would usually be advisory services to companies on how to raise money (corporate finance) or on mergers and acquisitions (M&A).

For some examples of investment banking divisions, take a look at: