How a deal trickles down to an analyst level?

BUMP

Pretty straightforward really...Note that this is based on my years of experience working with bankers on the other side of the deal

Senior bankers spend most of their day networking with various buyside shops, industry strategics and corporate CEOs in hopes that they will be able to provide their "services" to these groups in the form of acquisition/divestiture advisory, refinancings, etc.

IB operates in a fairly hierarchical structure where information is passed down to subordinates until it gets down to the analyst level. Analysts are generally on a need to know basis but work closesly with the larger group and are generally tied into discussions even early on.

Usually deals will happen on clients that have an existing team, either as the result of an existing pitch or other informal discussions. Rarely will a mandate just drop out of the sky. New staffings on deals will happen as a result of turnover (or occasionally team expansion in the case of a particularly painful project).

My group has a dominant position in a niche industry so in that space we get random deals thrown our way from time to time. In that case the staffer will just dole it out or the senior banker will ask a favored analyst whether he wants in.

a mandate means the deal is "official" correct? However, the client can still withdraw right?