BBs Building Out MM IB Groups
Have an upcomingCMG, their mm group. Trying to understand the general strategy?
Is it to be able to flex downward when
Thus, is there a focus on sponsor-backed clients and sponsor relationships (like most MM firms?)
Therefore not account-driven, like a coverage group?
Haven't tried before, and then they either sell or shutter? Why do they fail
Is there a strong outlook? If done right, with a strong investment, why wouldn't GS CMG eat like's lunch: GS name, can develop relationships over 5-10 years, etc.?