Sun Wei believes that in the competition of investment banks, the importance of interpersonal relationship is getting lower and lower, and professional ability is the most important. "Customers are becoming less and less sensitive to' who is calling' and more and more concerned about finding an investment bank that can really help make a good valuation and send a good price."

"Mobilizing global resources is our greatest advantage. We will use global industry experts to analyze the industries and outstanding enterprises in the China market. " Sun Wei said that these analysis and evaluation processes need to be cumulative and dynamic. For example, she said that Mr. Frank English is a global auto parts expert of Morgan Stanley and the vice chairman of the investment banking department. Very familiar with global automobile manufacturers, and have cooperation with big automobile manufacturers in Europe and America. "If there is such a project in China, we will arrange for him to go on a field trip. In a week or two, he will be able to come to the conclusion that which company has the most development potential and the potential for mergers and acquisitions. If a large American automobile company wants to sell its assets, we will analyze whether these assets or models are suitable for the China market and their development potential in China. These conclusions will have a major impact on possible acquisitions. "

The logic of choosing "big fish"

Looking back on the M&A projects listed by Morgan Stanley in the past two years, they are all leading enterprises in various industries. "We don't want to associate our name with companies that have no development prospects. When evaluating enterprises, we must choose who eats who and who is the big fish and prawn. The key is to see who has the most development and potential to eat others, so that the follow-up business will continue. If the enterprise is eaten, the business will be broken and the road of this industry needs to be reopened. " Sun Wei pointed out the root cause of Morgan Stanley's "close relationship" with excellent enterprises.

Sun Wei is promoting China Construction Bank (0939. Hong Kong) and Bank of America. "CCB is the first large state-owned bank to go public, and there are many creative financing behaviors. The cooperation with Bank of America is one of them. Whether the project can be successful or not depends on the quality of investment bankers. He should not only know the situation of the two banks, but also know the banking industry, investment industry and adequate negotiation skills. The choice of language, instrument and vocabulary is a comprehensive reflection of quality and a true embodiment of the investment banking business level. "