Sorry for the basic (but genuine) question. BB is clear but what does EB stand for and what are the differences vs MM banks. Also please give me some examples of banks in these categories. Thanks!
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I think EB is elite boutique and MM is middle market.
EB = "elite boutique" which is a term people sound stupid for saying outside of WSO, FYSA. It's a defined universe (typically, but varies) of Lazard, PJT, Evercore, PWP, Moelis, Centerview. Difference between them an BB is that the "EB" 's, and a significant majority of investment banks outside of the BB universe, are non-balance sheet banks which means that they don't directly lend money to clients. They typically offer only advisory work but it could be diversified (ie: sell-side, buy-side, restructuring, hostile takeovers, etc.)
MM = middle market. Captures a big chunk of banks out there, and they focus on "smaller" transactions - typically not larger than a couple billion with a majority being under $1B.
Not an exhaustive answer as I just realized I need to go take a shit but let me know if you have any questions/
Just want I needed. Thanks!
If you dont even know that it seems like you have done next to no industry research. I'm assuming you barely know what IB is?
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