Pro Bono IB ?
Hi I wanted to know is there any Pro Bono Investment Banking ? This is not a troll post. I am just curious.
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awaiting posts of…pay at shop is like working pro-bono. Sounds like Citi in the running this year.
Doesn’t citi do this
This is kind of a niche concept, no? Pro bono legal makes sense. Even the poorest of people need a practicing lawyer sometimes, so you can donate the services.
I’m not sure pro bono investment banking makes that much sense except for the concept of Goldman guys doing business brokerage for free. As in, they make a really polished CIM for a $1.5M porta-potty business in Indiana or something for free. Even then, that doesn’t look as charitable as defending someone against an unlawful eviction or helping them do their taxes (the IRS VITA program).
I don’t know that investment bankers can donate their services in-kind in quite the same way, but I guess they can wipe their tears away with hundred dollar bills.
Thinking a bit more broadly, you could say that it’s about financial modeling and making good strategic decisions, so you provide a financial model and operating suggestions to a non-profit for free, which can increase the financial viability of the non-profit into the future.
Think Restructuring, not M&A…
Makes total sense.
I believe Miller Buckfire handled the mandate for Puerto Rico defaults at one point - don’t recall the fee structure but in these kinds of cases the services are offered not for the return but the broader goodwill doing so provides.
Not exactly pro bono IB, but many firms (not only banks) have Corporate Citizenship programs that basically facilitate senior employees becoming Board Members at NGOs.
You won’t be doing M&A advisory as a Board Member, but you’d likely contribute with your leadership skills and finance knowledge.
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