Division of Labor between Industry Coverage vs Product Groups?

I work as an analyst at a boutique middle market shop that does M&A, private capital markets, and restructuring work, where everyone at the SVP level and below works on all different types of transactions, and where analysts and associates are industry agnostic, so I don't quite know the answer to this one.

I was wondering about how labor is divided between product groups and industry groups at BBs. If say, for example, a healthcare company wanted to do a private debt raise or issue public debt, what would the healthcare coverage group and the DCM group each do in terms of pitching, model building, marketing material preparation, roadshow (if applicable), lender outreach, diligence, and closing? And what about in an M&A deal? And how would the fee splitting be worked out between MDs? I understand that this may vary between banks but I was hoping for a general overview.

Thanks