Are all of these “middle market” groups at large banks essentially cost centers?
I keep hearing senior bankers say this. The middle market groups are not “true” IB groups, rather they’re “cost centers for the corporate banking business.” What exactly does that mean? My thought is the large BBs are much more corporate banking focused and have a larger MM client base on the corporate side, so they create a MM investment banking group to essentially “check the box” to demonstrate they’ll offer them IB services.
Why do senior bankers call it a cost center, and if it is a cost center and is not bringing in revenue why even have the group at all?
Is this another bank of america egrc group bashing thread in disguise?
Yes but other big banks have it too. JP, GS, Citi, etc
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