Inside the Investment Banking Case Competition: EDHEC and Société Générale Bring M&A Practice to Life

For aspiring investment bankers, mastering financial theory is only part of the journey. Understanding how deals are structured, analysed, and presented in real-world settings is what truly prepares students for the demands of the industry. This year, EDHEC Business School and Société Générale took that learning experience to the next level through the Investment Banking (IB) Case Competition, offering students a unique opportunity to tackle a real transaction and present their recommendations directly to investment banking professionals.

Designed for students in the MSc in Corporate Finance & Banking, the competition exemplifies EDHEC’s commitment to combining academic excellence with practical industry exposure. Through a challenging M&A case, close interaction with banking professionals, and valuable networking opportunities, participants gained first-hand insight into the realities of investment banking.

A Real Transaction at the Heart of the Challenge

The competition centred on a genuine transaction previously advised by Société Générale: Alstom’s acquisition of Bombardier Transportation.

Students had to analyse the case, develop their strategic recommendations, and prepare a professional investment banking presentation. Following an initial selection process, four finalist teams were invited to Société Générale’s offices to present their work before a jury composed of both junior and senior bankers. Reflecting on the initiative, Hamid Boustanifar, Director of the MSc in Corporate Finance & Banking at EDHEC, explained:

“For the first time, together with Société Générale, we organised the IB Investment Banking Case Competition. The students had a bit more than two weeks to work on it and delivered their results. We shortlisted four groups. They are coming to Société Générale to present their work in front of the junior and senior bankers.”

The final presentations required participants to demonstrate their technical expertise and to defend their strategic thinking and recommendations in a professional environment.

Experiencing Investment Banking First-Hand

One of the defining features of the competition was its immersive nature. Rather than presenting in a classroom setting, students delivered their analyses at Société Générale’s offices, facing professionals who had direct experience with similar transactions. According to Patrick Perrault, Managing Director, M&A at Société Générale, this practical exposure is invaluable:

“The fact that students can come into this institution, sit down and present to bankers who worked on the transaction, really gives them a real feel of what needs to be done as an analysis and how a deal needs to be presented.”

He added that presenting to experts who know the intricacies of a transaction introduces a level of pressure that mirrors the realities of investment banking, helping students develop both technical and communication skills.
Such experiences are central to EDHEC’s educational philosophy, which seeks to bridge the gap between academic learning and professional practice.

Bridging Theory and Practice

For many students, the competition represented an opportunity to apply classroom knowledge to a realistic corporate finance challenge. Juliette Lapie, Analyst in Acquisition Financing & Rating Advisory at Société Générale and an EDHEC alumna from the Class of 2024, highlighted the educational value of the exercise:
 

“The opportunity is to give students the chance to put theory into practice, to bridge the gap between both and to do a proper exercise as investment bankers.”

The case required participants to approach the transaction as professional bankers would—conducting financial analysis, evaluating strategic considerations, and preparing recommendations that could withstand scrutiny from experienced practitioners. This hands-on approach reflects the growing importance of experiential learning in finance education. By working on a live-inspired transaction, students gained exposure to the analytical rigour, attention to detail, and presentation standards expected within leading investment banks.

Learning from Alumni and Industry Professionals

Beyond the competition itself, participants benefited from direct interaction with Société Générale professionals, including EDHEC alumni who have successfully transitioned into careers in investment banking. For students considering their own career paths, these conversations offered valuable insights into the realities of working in the sector. Vincent Fritsch, a student in the MSc in Corporate Finance & Banking, emphasised the impact of these exchanges:

“The overall impression of our visit here at Société Générale was very good, especially the opportunity to speak to former alumni from EDHEC Business School who are now working within Société Générale.”

Hearing first-hand accounts from recent graduates provided participants with practical advice on recruitment, career development, and the skills required to succeed in investment banking.

The Value of Strategic Partnerships

The competition also reflects the strength of the long-standing partnership between EDHEC and Société Générale. Through collaborations such as this, students gain access to industry expertise, professional networks, and real-world learning experiences that complement their academic studies. As Professor Hamid Boustanifar noted:

“Société Générale has been a long-time partner for our programme, helping students gain exposure to a leading investment bank and providing this great opportunity to work on a real-life case and demonstrate their abilities.”

These partnerships play a crucial role in ensuring that students graduate with both the technical knowledge and professional confidence required by employers in highly competitive sectors such as investment banking.

Building Networks for Future Careers

In investment banking, technical competence is essential, but professional relationships can be equally important. Recognising this reality, the event was designed to facilitate meaningful interactions between students and banking professionals. Professor Hamid Boustanifar emphasised the significance of networking within the industry:

“Networking is extremely useful in most jobs, but it is very important as well in investment banking. This is a great opportunity for our students to get exposure to junior and senior bankers in a small and friendly environment.”

For students, the networking element proved to be one of the most rewarding aspects of the experience.
Petter Stenberg, also a student in the MSc in Corporate Finance & Banking, reflected:

“It’s been a great opportunity to come here and network with people who come from similar backgrounds, some from EDHEC as well, who have now been able to step out into real life and build successful careers.”

Such interactions allow students to expand their professional networks while gaining a clearer understanding of the industry’s expectations and opportunities.

Preparing the Next Generation of Investment Bankers

The EDHEC x Société Générale Investment Banking Case Competition demonstrates the value of bringing students closer to the realities of the financial industry. By combining rigorous analysis, real-world transactions, direct exposure to professionals, and meaningful networking opportunities, the initiative provides students with a comprehensive introduction to investment banking.

For EDHEC students, the competition is more than an academic exercise—it is an opportunity to showcase their skills, build industry connections, and strengthen their career prospects. 

Through initiatives like this, EDHEC continues to equip future finance professionals with the knowledge, experience, and confidence needed to thrive in an increasingly competitive global marketplace.