bulge-bracket firm

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Bulge-Bracket Firm

In bracketing, an underwriting firm responsible for placing a certain amount of a new issue with investors. If a bulge bracket firm is the single largest underwriter, it may be responsible for assigning parts of the issuer to other underwriters. Brackets are listed in order of size on an advertisement detailing each new issue, known as the tombstone.

bulge-bracket firm

A large investment banking firm that is considered to have an exceptional reputation and customer base. Investment bankers such as Merrill Lynch, Morgan Stanley, and Goldman Sachs are held to be among the relatively small group of firms that qualify.
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"Bulge bracket firms have pulled way back in their North America-based sales teams," said Mark Decker, founder and CEO of Decker & Co.
This has created opportunities for execution of blocks that both agency brokers and bulge bracket firms are tapping into.
Altman aggressively recruits managing directors from the Wall Street bulge bracket firms, each with a $10 million revenue target and has won many trophy mandates in TMT deals.