pitch book process- 2 different pitchbooks?
is there usually an initial pitch (tailored to the client) to sell your bank to the client to convince them to use your services, and then LATER ON there is the actual pitch regarding to the deal at hand (IPO/merger/etc)
or is this all combined into one?
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.
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.
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