Investment banks are big banks providing services for their corporate clients, governments and financial intermediaries. Their services include the issuing of securities, assisting their clients in the purchase of securities, managing their assets, trading and financial advice on matters related to mergers and acquisitions. Other than investment banking services, some of the investment banks provide commercial banking services also. Such banks are termed “universal banks” instead of being called as the bulge-bracket investment banks. The leading investment banks are Merrill Lynch, Morgan Stanley Dean Witter and Goldman Sachs. The regional based banks are supposed to be in the middle market and still smaller specialized organizations are termed as boutiques.