One of the most important sub-functions of investment banking is mergers and acquisitions https://imaa-institute.org/operational-due-diligence-investment-management-funds/ . The role of the M&A specialist is critical for investment banks as she assists the bank's high net worth clients in mergers as well as corporate acquisitions.
The decision to merge with another firm or acquire one firm is not easy and requires a lot of work, including pricing and deal structuring.