I’m sure automation will impact every job in some way but in regards to finance I really do see DCM and ECM being automated. I mean all they do is reuse the same deck and update the market numbers. Pardon my ignorance as I don’t work in DCM so maybe someone who does can enlighten me.
| +125 | If Tik Tok is forced to sell, what banks do you think would be involved in the deal? | 59 | 1d | |
| +85 | Updated LA Banking Scene (2024) | 61 | 22h | |
| +42 | Ranking banks that went under | 26 | 4h | |
| +39 | Burnt Out M&A ASO | 22 | 15h | |
| +37 | Relevance of A-Levels for U.K. London recruiting | 25 | 20h | |
| +37 | Intern Ettiquette | 9 | 22m | |
| +33 | A strategy for SA applicants late to the game like myself | 17 | 19h | |
| +27 | Series 79 Help / Tips to Pass The First Attempt | 11 | 3d | |
| +26 | 2024 new grads who didnt get return offers update | 12 | 33m | |
| +25 | What are hours like at BBs in London? | 48 | 29m |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Those standard slides can definitely be automated, but that is the least valuable part of a good ECM desk. Non-tangible skills like having a good investor network, placing power, roadshow reach, deal tactics etc. is where, in my opinion, the real value is and that more difficult to automate.
(I’m in not in ECM/DCM)
Alright let’s take DCM for example. Companies will always issue debt (in good times and bad, though in smaller amounts), and bond economics are dependent on the overall relationship, so I don’t see how the DCM desk will survive automation. I mean wtf do DCM MD’s even do?
The value in using DCM services lies in the advice and in particular the placement of the new bond. Technology facilitates this but cannot replace the expertise offered.
To give an example: let's say Tesla is thinking about issuing some debt, for whatever reason. Technology can project what sort of a new issue premium they'd be looking at for a variety of different tenors or product types, based on market data, but it's the colour that DCM provides that will help Elon and his team work out whether they want to go ahead.
God, I hope not.
Hopefully not lmao
Quo a iure ut est voluptas sint tempore suscipit. Sit et odit laboriosam sunt. Ab dolorum molestias autem iste qui. Officia rerum vel quis et. Asperiores architecto voluptas magnam sunt cum.
Unde tempora repudiandae deleniti. Voluptatem aut sit perspiciatis alias. Tempore qui consequatur dignissimos velit qui quasi. In assumenda praesentium rerum est.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...