Does anyone know the difference between what a bookrunner, co-ordinator, sponsor, financial adviser is?
I.E (from the FT):
Morgan Stanley, Deutsche Bank are acting as global coordinators, while JPMorgan Chase, UBS are joint bookrunners and Lazard is advising Nets.
My understanding is bookrunner is the lead IB ( so what all the banks are vying for? )
What does the global coordinator mean, are they just co managers so JPM/UBS would be acting lead on the above deal and then work with MS/DB on less important stuff?
Also has anyone heard of 'sponsor banks' in an IPO deal, what is their role?
Even more elitist than everyone thought?