Is it wrong or illegal to network off your bank's WGL?
If you work in banking - even as an intern - you obviously have access to everything in the IB share drive including the WGLs for all deals going on. Esp. for capital raising deals where there will be many banks working together. Less so or N.A. for M&A deals.
Networking is how you lateral over if you want to switch banks after 1 year or 2 years.
Is it wrong or illegal to use the contact information from the WGL to reach out to people at other banks to grow your network? Could you get fired? Or is this a good/smart idea?
I didn't know there were restrictions on networking besides directly messaging the CEO. I would do it.
Do no other bankers have thoughts on this? I mean you guys MUST have thought about the same thing right?
Don't be stupid about it and say, "I saw your email on our IB share drive and I want to switch to your bank. drinks?"
If you're going to do this, try to find a point of commonality, whether that be a sector interest, background, school, etc, and treat it as a mentoring thing/wanting to be a better banker thing.
LOL
How about "I saw we worked on the X deal together" two weeks ago. I'm interested in the industry and learning more about X bank?
I feel if you CAN use the WGL it is a HUGE advantage for bankers already in the industry to reaching out to people rather than college kids trying to break in with random e-mails from the bank's website.
How about you look to establish an actual relationship with someone in the context of the deal and then ask them for a favor? If someone wrote me and said "hey, we worked on a deal together" and I didn't know them, it would be very easy not to respond because, in actuality, we didn't work on a deal together if we never interacted.
No one has responded because it's generally a bad idea.
^ ok but if you are an analyst or intern you don't get to call/e-mail other members of the banking team at other banks often apart from sending a random correction on the WGL or something.
It's not like you are exchanging pitchbooks or due diligence information between banks or anything. So how do forge a "real" relationship with people in the course of working on a deal. Not to mention if your bank is almost always a co-manager on the deals with the BBs you don't really do anything on the banking side anyway.
Realistically, let them know you were on the deal, they will probably put your name into their outlook search and see you were on the WGL or cced on a bunch of stuff and then you have a point of commonality. It's better than cold calling but not by that much, especially for underwriting (as opposed to M&A processes where your firms were on opposite sides or even co-advisors).
Funny you posted this. I just started my nyc ib internship a couple weeks ago and have been going crazy with their databases in terms of contacts. Not looked down upon until you say where you got their contact info from of course. Just lie, say you got their info from linked-in, guessed the email address by finding his name, had someone send it to you etc.. I would definitely use it. Utilize your resources.
WGL = working group list?
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