Why does Goldman Sachs always top the M&A league tables, when other banks’
ideas are just as good? Why is Jessica (Mrs Jerry) Seinfeld’s new book suffering
from too much
demand, when an almost
identical book by Missy Chase Lapine lags far behind? The Epicurean Dealmaker
the answer:
At the end of the day, a client trying to decide between two bankers for
an M&A assignment is often stumped. As far as the client can tell, the
finalists are completely indistinguishable, equally talented, and equally
plausible—both perfectly acceptable candidates for the final nod. At
that point, the client often makes the decision based on the name on each
banker’s card. No, not that name, silly. The name of his or her investment
bank.
I imagine the firm of Missy, Chase & Lapine lost to Seinfeld LLC for the
very same reason.
Do you think if second-tier investment bankers managed to get onto Oprah, they
would get more dealflow?