Hi all,
I was looking around and I couldn't really find a comprehensive post that describes the life of a deal.
E.g. Senior bankers get rumors of the deal or start landing a deal, all the way to getting a staffer to staff associate / analyst to get grunt work done.
Assume the bank is advising on a buy - side deal.
*Feel free to describe how it gets from MD > VP > Associate > Analyst
or through official stages of the deal E.g. Mandate.
Thanks guys!
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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?
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