M&A execution vs sector teams

I am aware there is a big difference in how London vs the US operate investment banks so would appreciate if responses could be focused on London offices.

I was wondering how the M&A execution teams differ from the sector teams? Who drafts the CIM, who builds the financial models, who runs the dataroom etc.. what are the responsibilities for each? 

Thank you.

4 Comments
 

Depends on the deal and bank. If you have specific team maybe we can give more targeted info but generally M&A teams are not as "central" to a franchise in Europe as they are in the US. In practice they end up as support teams unless the deal is more complex (plc takeover / merger work, large carve outs etc). From my experience and what I've seen / heard, most of the times models are with sector guys, big part of the CIM too. So basically M&A runs process - VDR, DD work / sessions, docs etc.

 
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