Steven H. Nigro On Navigating the Future of Investment Banking in a Rapidly Changing Financial Landscape

The banker who thinks a phone on his desk is still enough has not been paying attention. Over the past 25 years, everything that once differentiated investment bankers in the initial stages of a deal, such as identifying buyers, building models, and knowing what multiples look like, has become table stakes. Clients already have that information. They know how much the firm two floors below in the elevator bank was sold for. They have been approached directly by private equity and strategic investors. The information asymmetry that justified the traditional trusted advisor model has largely evaporated.
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Steven H. Nigro, an investment banker with 25 years of experience specializing in the insurance sector, has watched this shift unfold in real time, and his view of where banker value actually lives now is precise. “Bankers earn their fees in well into the deal,” Nigro states. “It’s when the deal gets complicated, and experience is the only thing that gets it closed.”

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