What is a "Pitch"?

The pitch is where the banker puts on their Sales hat. A pitch is the presentation that an Investment Banker gives in order to try and win business. The "pitch book" is the presentation (usually in PowerPoint) that the investment banker brings to the pitch in order to try and help him/her convince the Company that they are the BEST Investment Bank for whatever transaction is being contemplated. (Merger, acquisition, debt / equity raise, restructuring, etc).

Oftentimes, there is a negative connotation associated with "pitching" or pitch books because they often involve numerous long, painful, sleepless nights to prepare (at the junior levels)¦and can result in no revenue for the Investment Bank if the engagement is not won.