The purchase of investment banking services is one of the top categories involving CEOs. For companies engaging investment bankers, Chief Executives are heavily involved in each the Early, Middle and Final stages of the Investment Banking firm selection process.
Despite the transactional nature of investment banking engagements, CEOs are frequent, heavy users of such services, and spend significant amounts when they do engage. In 2013, 50.6% of CEOs anticipate spending on Investment Banking services, with an average spend of $1,245,000.
When the CEO is personally involved in procuring Investment Banking services, the likelihood is greatly increased that the organization will forward quickly in the evaluation and adoption process (+92.3%), it will become a priority that others in their organization will give serious consideration to and remove roadblocks in the evaluation process (+91.5%), and ultimately become a reality (+89.4%).
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Robert Lawrence Kuhn, an international investment banker and corporate strategist, is senior adviser at Citigroup where he focuses on China. He is editor in chief of a new book, China’s Banking and Financial Markets: The Internal Report of the Chinese Government. His articles describing and explaining investment banking, which advise business executives on how to optimize investment banking products and services, Can be found by clicking on following links.
- A Philosophy of Investment Banking
- What Investment Banks Do
- How Investment Bankers Think
- How to Use Investment Bankers
- What M&A Banker Would Rather I Not Write
- Inside M&A Banking