How is work split in your bank between sector/product/country team?

Based on the most helpful WSO content, the division of work between sector, product, and country teams can vary significantly depending on the bank and its structure. Here's a breakdown of how these teams typically interact:

1. Sector/Industry Teams: These teams are often responsible for deep expertise in specific industries (e.g., Energy, Healthcare, Consumer). They tend to handle valuation work, industry-specific insights, and client relationships. Some industry teams are highly competent and take on most of the modeling and valuation tasks, while others may focus more on providing strategic views and rely on other teams for execution-heavy tasks.

2. Product Teams (e.g., M&A, ECM, DCM): Product teams specialize in specific types of transactions. For example:

   • M&A: Focuses on mergers, acquisitions, and restructuring. They often handle detailed modeling, deal structuring, and negotiation processes.
   • ECM/DCM: These teams are more market-focused and handle equity or debt issuance processes. They may not do as much modeling but are heavily involved in market analysis, pricing, and coordination with sales and trading desks.

3. Country Teams: These teams often act as a bridge between local clients and the broader bank. They may take on M&A responsibilities in regions where the bank lacks a dedicated M&A team. Their role can vary widely, from managing client relationships to executing deals, depending on the bank's structure and the region's needs.

From your description, it seems your country team operates as a hybrid, taking on M&A responsibilities and collaborating with industry groups and ECM. This setup is not uncommon, especially in regions where the bank's resources are more centralized or where the country team has strong client relationships.

The variability you mentioned—where some industry teams handle all valuation work while others avoid modeling entirely—also aligns with insights from WSO threads. This often depends on the culture and expertise of the specific team or bank. Some banks have a more collaborative approach, while others operate in silos, with clear delineations of responsibilities.

Sources: Investment Banking vs. Capital Markets - How different are they?, Investment Banking vs. Capital Markets - How different are they?, Please Help Me Understand Corp. Finance / M&A at the Big 4, Knowledge Sharing: Corporate Development / M&A, Rothschild (LDN) M&A or Debt Advisory/Restructuring?