pitch book process- 2 different pitchbooks?

It's all the same book/presentation. After all, likely the reason you're even talking to them is because they're considering a deal.

However, sometimes the senior bankers will have a "catch up" meeting to maintain a relationship with a potential client, even though there is no transaction scheduled. These pitch books (because no senior banker can go anywhere without a book) usually just include an "about our bank" section, and a "market update" section with relevant industry information.

• Capt K

Sometimes it can be two separate meetings/books, though.

For example, we routinely call on C-levels in our target company universe. Of course, if there's no prior relationship, we wouldn't walk in and immediately pitch a sell side transaction or restructuring plan; rather, we have an "introductory" meeting and simply sell the capabilities of a full-service investment bank on a high level.

Once we figure how we can help them, then the actual "pitch" book creation begins.