News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Banks question their chances in new world

Independent advisers hold sway over half of all Europe’s IPOs, but there are some who feel the dice are loaded

Investment bankers used to know the rules of engagement when pitching for work on initial public offerings.

They would develop a relationship with a company and its management team, and where relevant the financial sponsor or government looking to float the company. Then they would turn up to the beauty parade with their pristine pitch book and, if they were lucky enough to get on the deal, they would liaise with the management team to complete the deal as they saw fit.

WSJ Logo