Why do Investment Banks have Corporate Development teams? Cant you guys just pull in resources from your IB teams when needed for that? In consulting, they just use staff consultants. For example, at Strategy&, they would just pull consulting resources for strategic planning for PwC

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I would assume that incentives and pay structures make this less economically attractive, you want your highly paid IBD teams focused on bringing in client / advisory revenue vs internal work. Corp Dev is also more than just doing deals, it’s sourcing / pipeline / strategy / and sometimes integration as well.

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