Investment Banking?

I found a definition on wetfeet about investment banking.

What I-Banking Is
"It is an umbrella term for a range of activities: underwriting, selling, and trading securities (stocks and bonds); providing financial advisory services, such as mergers and acquisition advice; and managing assets"

I thought managing assets belongs to investment management. Am I just confused between i-banking and the i-banking division (IBD)?

I think it is a poorly worded definition. I would say that i-banking is mostly about the process of bringing securities to the market and advising clients on various business matters, such as M&A. I think the managing assets they are talking about is in reference to advisory work with the companies in helping them manage their assets, not portfolio management from a mutual fund or hedge fund perspective.

An Investment Bank is exactly what you defined. It is a place where professionals connect those who need capital to those who have it.

IBD refers to the capital raising side of the bank, typically engaging in the financing of IPOs (through underwriting), debt offerings, and M&A advisory work.

-Underwriting requires the bank to buy all of the issued shares of the client, which are then either held by the firm as an asset, or more typically, sold to institutional investors (mutual funds and pensions funds) or other banks (who typically trade them)

The trading of securities is handled by the bank's sales/trading professionals who have representatives on the floor of the major exchanges.

Managing a [high-net worth] client's portfolio is referred to as private wealth management.

Managing a portfolio of investment managers is referred to as asset managment.