Now that strategy work is going more implementation, what stops one of the mbb trying to go into fdd or valuations?

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Because they have way better margins doing what they do. You can’t charge much more for FDD than firms already do

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Not really. It's not their expertise and margin is not high as they want to get.

What do you mean strategy work is going more implementation? What does that even mean?

No they’re not? What are your sources?

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