Building the next generation of Originators
The Challenge
For many investment banks, growth depends on a relatively small group of senior bankers who have developed deep client relationships, extensive networks and strong origination capability over many years.
While these individuals often generate a disproportionate share of opportunities and revenue, firms increasingly face a common challenge: how to broaden origination capability across the next generation of bankers.
This challenge was recently confronting a global investment banking business. While its mid-level bankers were comfortable executing transactions, managing workstreams and advising clients, fewer were confident identifying opportunities, developing client ideas and creating the revenue-generating events that drive growth both their clients and their own firm.
The organisation recognised that its future growth would depend on developing a larger cohort of bankers capable of contributing to client development and origination activities while maintaining the technical excellence and execution discipline that underpinned its reputation.
A further complication was that, despite a deep pool of institutional experience, there was little consistent understanding or background on how successful originators were best developed.
Our Approach
Through a series of discussions with experienced dealmakers - exploring their pivotal career experiences, client relationships, landmark transactions and observations of emerging talent - we identified what differentiated the most successful originators. These insights enabled us to both define key development needs and understand how any development needed to be structured to match the realities of investment banking.
Working closely with the client, we designed a bespoke development program focused on the mindsets, skill sets and observable behaviours most closely associated with successful deal origination. This framework was refined with senior leaders to ensure it was both practical and relevant to participants' day-to-day role
The Solution
The program we designed centred on five core origination situations, with each being the focus of a short, practical and highly interactive development session. Delivered over six months, they allowed participants to apply new approaches between sessions and build confidence through practical application. Each session included:
• Content built around real client examples, commercial realities and internal dynamics participants would encounter in these situations.
• Practical scenarios that challenged participants to evaluate alternative approaches and explore different styles of origination.
• Co-facilitation by senior bankers who shared first-hand insights into building client relationships, developing opportunities and establishing trusted advisor status. In each case, we worked closely with these leaders on both content development and facilitation approach.
To provide an additional perspective, the program incorporated extensive client feedback and insights. Senior client representatives were invited to address the cohort and share their views on origination activity, what differentiates trusted advisors and how mandate decisions are made.
Mentoring formed a critical component of the development experience. Each participant was paired with an experienced senior banker who provided practical guidance, shared network connections and helped identify opportunities to apply new skills in live client and deal situations.
Mentors, participants and managers met regularly throughout the program to review progress, discuss challenges and focus development efforts on real business opportunities. These conversations became an important mechanism for translating learning into action.
As well as the design, we coordinated and facilitated the program on the client's behalf, ensuring all faculty, guest speakers and support contributors were fully briefed and prepared to maximise participant outcomes.
Impact on the Business
The program has now been delivered across multiple cohorts, expanding from a single Australian pilot to multiple streams delivered globally each year. It has become an important component of the firm's broader growth and talent strategy.
Leaders observed a noticeable shift in participant behaviour, including:
· Greater ownership of opportunity identification and pursuit activities
· Improved capability in developing and refining M&A ideas with clients
· Stronger stakeholder management and influencing skills
· Increased collaboration across product, sector and regional teams on growth opportunities
· Greater visibility of future origination talent across the organisation
Across multiple cohorts, leaders identified mandates and opportunities that were more likely to have been won because of the behaviours, relationships and commercial capability developed through the program.
The program also accelerated participant progression into more senior origination roles. Combined with strong mentor support, it improved retention within a critical talent pool while contributing directly to business growth.
From a business perspective, the benefits extended well beyond individual participants. The program strengthened succession pipelines, reduced reliance on a small number of senior dealmakers and increased the firm's overall origination capacity.
It also created stronger connections between generations of bankers, enabling experienced originators to transfer practical knowledge, relationship insights and commercial judgement that are often difficult to codify but critical to long-term success.
Why It Worked
An early design principle was that origination capability can be learned, but it is difficult to teach. This shaped several elements that distinguished the program from conventional training approaches.
First, the content was designed specifically for investment bankers. Rather than introducing generic sales methodologies, the program focused on helping participants leverage their existing transaction experience, technical expertise and client knowledge more effectively in commercial and strategic conversations.
Second, mentors played a critical role in translating concepts into action. They provided access to practical experience, shared lessons from their own origination journeys, and helped participants apply learning in live business situations. Importantly, the partnership between mentors and managers helped connect development directly to real opportunities.
Third, participants learned directly from successful originators across different products, sectors and geographies. This exposed them to a range of approaches and reinforced that there is no single formula for successful origination.
Fourth, client involvement provided an unfiltered perspective on how advisory relationships are formed, how mandate decisions are made and what clients genuinely value from their banking relationships. These sessions consistently challenged assumptions and deepened participants' understanding of the client perspective.
Finally, the program placed significant emphasis on workplace application. The combination of structured learning, mentoring, manager involvement and practical application helped convert insights into behavioural change and increased the likelihood of sustained capability development.
Key Reflection
Simply investing in standard business development training is unlikely to deliver the origination capability most professional services/ advisory firms seek.
Meaningful results require a broader, systematic approach that combines targeted development, practical application and monitoring for results.