我国国民经济多年的持续增长，为我国资本市场形成和发展提供了坚实基
础，多年来形成了一定规模。未来经济的持续增长预期，为我国资本市场的深
入发展以及结构性调整带来了良好的环境。资本市场的持续发展为证券公司的
生存和发展奠定了良好的基础。
作为中小券商的 HT 证券，排名一直靠后且有持续下降持趋势，且投资银行
业务一直处于弱势地位。近期股市低迷，资本市场寒潮袭来，但另一方面，资
本市场创新的呼声日益高潮，相关部门也在积极推动券商创新业务。IPO 发审制
度的持续改革，公司债的扩容，场外市场业务即将全面推开，中小企业私募债
也正在普及，资产证券化在停滞多年后已经重启。对于中小券商来说，这无疑
是一次机遇。
本文通过对投资银行业务的全面分析，找出 HT 证券投资银行业务的战略定
位：“以点带面”的拉动式战略，具体来说，就是以创新业务为突破口，以传统
业务为依托，在一个相对较长的时间内逐步形成公司的投资银行业务品牌。提
出实现战略的组织模式，即“大业务部门+团队”模式，通过优化组织结构以及
制度建设，实现战略目标。
本文拟通过重新定位投行战略以及组织模式设计，力争公司在投资银行业
务开展方面取得突破。同时对中小券商在新形势下找准定位，谋求大券商合围
下的生存之道具有借签意义。
关键词:HT 证券；投资银行；发展战略；Abstract
HT Securities investment banking headquarters set up in 2004, it mainly
provides financing and other types of services in securities primary market, including
IPO counseling, issuance, allotment, corporate bonds sponsor, underwriting,
corporate mergers and acquisitions and other financial advisory services, private
equity bonds, three new board businesses.
The continuing growth of China’s national economy provides a solid
foundation for the formation and development of China's capital market over the
years. The expecting economic growth brings a good environment for the further
development of China's capital market and structural adjustment. The continuing
development of the capital market has been laying a good foundation for securities
company's survival and development
HT, as a small securities brokerage, has been ranking on the list but there is a
declining trend, and the investment banking business has been being in a weak
position. The recent downturn in the stock market hit the capital market, but on the
other hand, the capital market has forming increasingly innovative climax, the
relevant departments are also actively promoting innovative business brokerage. IPO
issuance has been continuous on the trial of reforming, expansion of corporate bonds,
OTC market business, those will be fully open. The SME private debt is also popular,
asset securitization has been being restarted after years of stagnation. For small
brokerage, this is undoubtedly an opportunity.
Based on the overall analysis of the investment banking we try to identify HT
Securities investment banking strategic positioning: “point to surface pull strategy”。
To be specific, it is an innovative business as a breakthrough from basis of traditional
business, and we are trying to create a investment banking business brand in a
relatively long period of time. We put forward measures to achieve strategic
organizational model, the big business plus team model, by optimizing the
organizational structure and institution building.
we strive to make a breakthrough in investment banking business by
==>>