This is what I had always heard about ECM, but it is true -- with virtually no activity IPO activity going on the last month, are layoffs inevitable? And if so, what level gets laid off first?
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ECM doesn't only do IPOs, Blocktrades are still sizeable. Imo, this is where you will see divergence in ECM revenues as more well connected banks and better performing private banks are able to get to the blocktrade opportunities before the others can. So layoffs likely from lower tier banks, likely to be average 2-3rd year analysts that would be meh associates.
Cool, thanks for insight. I know top 3 BBs probably are always busy, but does that hold true with mid-tier BBs, like Citi, Barclays?
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