LevFin Question
What is the difference between Lead Left and Traditional Bookrunner?
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Lead left runs the transaction. Other bookrunners don't do shit. That's the important difference.
That's accurate, especially in terms of work you will be doing as an analyst. The other bookrunners help underwrite the transaction to reduce the risk among bookrunners. Generally speaking there are usually more then 1 bookrunner and co-managers because corporates wants to spread the fees among all their banks to keep them happy so that they stick around for their next capital raising need. The farther right as a bookrunner you are the lower economics (fees) your firm will usually receive (to an extent).
what do the co-managers do exactly?
@bananawhore nothing. seriously.
what fernando said. also, lead left is literally on the top left of the om, indicating theyre running the transaction
Thanks!
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