Investment banking: No clouds on tech banking horizon

Facebook’s pending multi-billion dollar IPO is raising the spectre of a new tech bubble. Bankers argue that today’s tech and social media boom is different to that of the late 1990s. But the competition for mandates is more pressing than ever.

A battleground is forming on Wall Street. Much ink has been spilled over Morgan Stanley and Goldman Sachs’s competition to be coveted left lead on the Facebook IPO, and the pressure on Wall Street firms to be the investment bank of choice in the tech sector is plain to see.

The banks’ PR people are on lockdown. Even finding bankers to talk about general trends in the tech sector is a difficult task. As one bank PR says: “We cannot risk even being seen to talk vaguely about tech.

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