Does anyone find a lot of midlevel bankers (VPs/Directors) to be fairly useless? I generally find anyone I deal with at the MD level to be at least fairly competent. When I have a discussion with most of the midlevel folks, they bob and weave to avoid actually answering any questions. I find they also waste a lot of my time reiterating the same information and require me to be very prescriptive on what we want. I don't really have any complaints on the execution side, which I guess is the part of the process they've mastered. I didn't feel this way when I was a banking analyst, but there probably was a subset of midlevel people who lacked sound client management skills.
The above is in reference to coverage bankers. I think product bankers need to get used to actually providing value add earlier in their careers. This is based on my experience with mid-lower tier bulge bracket banks in the U.S. Perhaps other banks select for more impressive junior talent.
What do you all think? I have to say being on the other side of the table from the bankers is pretty sweet, even if sometimes they frustrate me.
Logical result of the job description I believe. Coverage is much more experience and network based, visit tons of clients and repeat what they say. Product bankers are experts, so even mid-level guys have seen a lot of that specific product/topic.
This is interesting commentary. I recently switched firms and was surprised at the lack of M&A understanding that VPs in coverage groups possessed. It goes beyond just process concepts to contemplation of what makes an asset valuable to others in the market.
The positioning done by industry group bankers I've seen (without product bankers) is shockingly poor. Industry landscape provides the context around a business model, but it does not explain the differentiation and uniqueness.
I have a feeling part of the problem is if they don't have a signed EL and the deal is under $500mm they just would rather spend their time on something else.
Quo provident sint aperiam qui qui. Corporis est quisquam quibusdam est ipsa.
Quo quia sint autem sunt aut. Omnis vel distinctio recusandae voluptatum quam suscipit commodi. Distinctio magni delectus doloremque est deserunt. Nesciunt officia et doloribus iusto ut. Occaecati aperiam dolore aut ut.
Quaerat ipsam qui modi non facilis facere ea. Aperiam beatae ratione temporibus aliquam quo. Nulla tempore dicta ex officiis harum. Velit hic omnis commodi eligendi quae dolores. In vel ut molestiae sit sequi dignissimos inventore assumenda. Sapiente dolor et maiores qui at qui. Voluptatibus laudantium dolorem natus est qui dolor officia illum.
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...