The sales element of MM / IB / CB
What does the sales process look like in the world(s) of MM / IB / Corp Banking?
I ask because I imagine it to be more transactional (fly in, pitch, kill, and eat) as opposed to relationship management (running the marathon / you call the client every month or quarter to ‘check in,’ with the aim of winning more assets and cross-selling over time).
I’m a senior banker (S7 + S66 + CFP) in the retail channel of a major bank and the sales process for me is more relationship management; the products are all personal / family trusts, no business or commercial. The name of the game is to build a book of good clients, make my bank corporate trustee / the primary relationship of the family.
I’m interested in moving to Corp Banking / Middle Market because, quite honestly, wealth management isn’t as interesting to me as it once was and I really get a rush from the lending piece; talking about terms, building the vehicle, signing docs, launching that thing into outer space, then basking in the afterglow.
How do you get long-term clients when the work is transactional? That is to say, I would imagine that your clients aren’t doing major transactions every single year (or are they?). Any insight would be much appreciated – Thanks all!
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