An advisor to a firm targeted in a merger or acquisition that simultaneously is involved in financing the bidding part of the deal is referred to as a dual role advisor. Being a dual role advisor can create conflicts of interest through the possible perception that the investment bank's advice...

This paper shows that former investment bankers become important clients for their previous employers and also provide access to profitable business opportunities to their new private equity employers through their previous employment networks. I observe 1,326 individuals directly involved in...