Tech banking's survivors broaden their sights: With analysts sidelined, bankers must prove their mettle

For investment bankers working in technology, consolidation has been a fact of life for more than two years now. But the mergers that bankers have been wrestling with for the past 24 months are not the long-awaited transactions that will redefine the industries of their technology clients. Instead,...

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Bibliographic Details
Published in:The Investment Dealers' Digest : IDD 2003-09, p.1
Main Author: Keegan, Jeffrey
Format: Magazinearticle
Language:English
Subjects:
Consolidation
High tech industries
Hiring
Industrywide conditions
Institutional investments
Investment bankers
Investment banking
Investment banks
Market segments
Mergers, acquisitions and divestments
Semiconductors
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Summary:For investment bankers working in technology, consolidation has been a fact of life for more than two years now. But the mergers that bankers have been wrestling with for the past 24 months are not the long-awaited transactions that will redefine the industries of their technology clients. Instead, the bankers have endured consolidation within their own firms. Once the tech turnaround happens, the veterans who know the industry will be in high demand, supported by a crew of new hires that will create a two-tiered structure where there is no place for those mid-level bankers who vanished during the bear market. During the boom, technology shifted from being a profitable niche business to being a core element of any investment banking operation. The upshot is that tech bankers now are largely on their own when advising their clients, who are likewise more dependent on bankers for advice.
ISSN:0021-0080