The Future of Investment Banking in an Era of Automation, Boutiques, and a Fragmenting Europe

Investment banks undoubtedly serve an integral function in our financial markets. They help raise capital for companies through equity or debt offerings, provide corporate finance advice on mergers and acquisitions, aid in restructuring processes, and facilitate our economic activities among many other important tasks. But what is the future for investment banking services as more junior-level number-crunching work is projected to be automated away by tech innovations? Where does the future lie for bulge bracket investment banks like Goldman Sachs and Morgan Stanley, as more boutique advisory firms prove to be more nimble in complex transactions and more knowledgeable in niche verticals? Melville Mummert is the former Head of European Investment Banking at Raymond James. From a base in Munich, he led the strategic expansion of Raymond James into Frankfurt and London, and recruited and retained a team that grew from 22 to 75 professionals. His team provided advisory services on M&A, capital raising, and restructuring in all phases of transactions in five sectors: tech & services, industrials, healthcare, financial services, and consumer & retail. Previously, he founded and managed his own international corporate finance advisory practice, Mummert & Co., which focused on technology-based companies in German-speaking countries and was ultimately acquired by Raymond James in 2016.