The ins and outs of mandate hunting
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The ins and outs of mandate hunting

Why the China rainmaker just won’t go away  

Lee Zhang: at the top of the Deutsche tree I Fang Fenglei and Fred Hu: one bank, two rainmakers I Zhang Liping and Janice Hu: quietly getting deals done I Henry Cai: a new breed of dealmaker

Matthew Koder, UBS

Matthew Koder, UBS: understanding pitching process

One of the biggest reasons why people argue that the rainmaker era has run its course is because of the growth in sophistication in Chinese mandate processes, especially in the big state-owned-enterprise mandates. It would be a stretch to say that the decision-making process is transparent. However, many feel that it stands comparison with privatization beauty parades elsewhere in the world. In at least two bake-offs, for ICBC and Bank of Beijing, people who pitched say they heard back from the selection committees with detailed feedback on their performance – in some cases down to their precise rank among the bidding banks, or the score they were given in particular areas of the pitch.

"When you see clients now making a big decision it looks like a real panel, with people sitting there doing the scoring," says a senior banker.

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