Blog · Data quality and reconciliation · Investment banking
How an investment bank's coverage group manages a banker's departure or move from the coverage file and the contact log: the clients whose last contact was with the departing banker, the days since any other banker touched them, the fee wallet at risk, the handover list ranked by it, and the ninety-day check that says which clients the new officer has actually met.
A coverage banker resigns on a Friday. Their client list is reassigned on Monday. By the following quarter, the clients who only ever dealt with that banker have had one call from the new officer, or none, and the departing banker's new firm has had several. The coverage file and the contact log say which clients those are on the Monday. This guide sets out the single-threaded list, the ranking, and the ninety-day check.
Per client on the departing officer's list:
Last contact date, last contact by Other-banker recency = days since the last contact by anyone other than the departing officer Single-threaded if other-banker recency > a stated number of days, or no other contact ever Fee wallet, estimated
Per transition:
Handover list = single-threaded clients, ranked by fee wallet Ninety-day check = share with a logged meeting by the new officer within 90 days
Client and banker identifiers only.
every client has exactly one coverage officer on any date
A client on two officers' lists after the transition, or on none, fails it and is listed; the second is the commoner failure, and it is a client nobody will call.
Transition date 1 March. Departing officer B-14.
| Client | Fee wallet | Last contact | By | Other-banker recency | Single-threaded | New officer met by 30 May |
|---|---|---|---|---|---|---|
| 2207 | $48m | 21 Feb | B-14 | 410 days | Yes | No |
| 4471 | $62m | 14 Feb | B-14 | 38 days: B-07 | No | Yes |
| 9034 | $21m | 3 Feb | B-14 | never | Yes | Yes |
| 1187 | $35m | 28 Feb | B-14 | 220 days | Yes | No |
Two single-threaded clients with eighty-three million dollars of fee wallet between them have not met the new officer three months on. Client 4471 has a second relationship with banker B-07 and is fine. The group head's list is 2207 and 1187, and it is three months late already.
| Transition | Handover clients | Met within 90 days | Share | Wallet not yet met |
|---|---|---|---|---|
| B-14, 1 March | 11 | 6 | 55% | $121m |
Reassignment treated as handover. The name changed in the file; the client never met anyone.
Contact log without banker attribution. Every contact looks like the departing officer's, or none does.
Ranking by count. Eleven clients; the two that matter are eighth and ninth.
No ninety-day check. The handover is assumed done because it was scheduled.
Mapped once, the coverage file, the contact log and the wallet estimates produce the single-threaded list, the ranking and the ninety-day check for every transition. Covirage builds this from the exports as they are. The investment banking page describes the setup, and the fee wallet guide covers the estimate that ranks the list.
The CRM's contact log, which records the banker on each logged interaction. Where senior contacts are logged by an assistant, the banker field is still populated. A client with contacts logged but no banker attribution is listed as unattributed and treated as single-threaded until confirmed.
As the ranking. A single-threaded client with a large estimated fee wallet is the first handover meeting; one with a small wallet can wait. The wallet estimate is from public deal data with stated assumptions, as elsewhere on this site.
The share of handover clients with a logged meeting by the new officer within ninety days of the transition date, and the list of those without. It is the measure of whether the handover happened, and it is reported to the group head, not filed.