Why the China rainmaker just won’t go away
China’s rainmakers just won’t go away, even though most investment banks now hate the term and stress that it is the bank, and not the individual, that wins mandates. But the superstar bankers are still vital to doing deals in China. The old names hold on to key positions, while a new breed of dealmaker rises to the top of the ranks. Which firms have got their strategy right?
Every major investment bank in Asia seeks the answer to the key question: how do you win business in China? For most of the past decade, the answer was to have a rainmaker – an insider with serious connections to the Chinese establishment. Reports of the rainmakers’ death have been greatly exaggerated.
IN THE FLUID and competitive world of China investment banking, new hires come and go, but occasionally one comes along that rattles the market.