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I was one of those people on Wall Street and it doesn't work like that to the extent you're thinking anymore. In my experience, relationships with consultants a
by _sword 7y ago
I was one of those people on Wall Street and it doesn't work like that to the extent you're thinking anymore. In my experience, relationships with consultants at big name firms could offer better channel checks, but pretty much no one is straight up hearing from a CEO that they had a blow out quarter with X, Y, Z client wins before that info goes public. Too many people have too much to lose.
- codingslave 7y agoYou see the same in in M&A, often times the bank that wins the deal is the one where the managing director knows the people taking the company public. Its about relationships. Same thing with private equity. The equity markets are also miniscule compared to the bond market, where this kind of thing is even more widespread.
- _sword 7y agoThe banking side is a different topic than the post at hand here. No doubt in my mind that banking functions as a relationship driven business - you're right there.
- codingslave 7y agoIts mostly the same type of person. Funds hire investment bankers as their analysts. The industry is really small