Investment Banking: Sales Job, Relationship Job, People Job
"The essential job of an investment banker—the thing she gets paid for—is to convince corporate executives to hire her investment bank to do deals. It is a sales job, a relationship job, a people job. Being smart and hard-working and an expert in financial modeling are tools that are often useful in achieving the main goal, and that are probably essential in sustaining the business in the long term. But if you can do the main thing, then you can skip a lot of the instrumental stuff."
In his article for Bloomberg, Matt Levine details Credit Suisse the role of the investment banker in light of CS's recent $77 million fine for violation U.S. Foreign Corrupt Practices Act. The perpetration: "hiring the relatives of government officials and executives at state-owned enterprises in Asia."
Full article on Bloomberg - HERE