Is ECM at all banks easy/lazy
I’mbank with a so I’m curious if the ECM teams are generally lazy / do nothing across all banks, or if i’m missing something.
Seems like all they do is pump out boilerplate market update /, creds, themes, etc that they can use in every book. Whenever something comes up that is technical and/or needs to be mildly tailored to a specific client or ask, they do everything they can to punt it off to coverage bankers.
Some people argue “everything is live” but that’s also the case with M&, and they do their work.
I don’t mean this to be overly accusatory as I’m sure there are very intelligent ECM folks, especially at the top levels. It’s just that every book I do with ECM is excruciatingly painful because they don’t really do anything that requires thought.
Maybe it’s different at banks with stronger ECM franchises.