What is the primary purpose of a pitch book in the context of investment banking?

The primary purpose of a pitch book in investment banking is to serve as a marketing document that presents the services and credentials of the investment bank. It is designed to communicate the bank's capabilities, highlight its past successes, demonstrate expertise in specific industries, and outline potential strategies for prospective clients. This document is typically tailored to the needs of the client and includes important information such as case studies, market analysis, and proposed solutions to their financial needs.

The focus on marketing is crucial, as investment banks often use pitch books during meetings with potential clients to win mandates, showcase their understanding of the client's business, and establish a relationship built on trust and expertise. By effectively illustrating their strengths and the potential benefits of a partnership, investment banks aim to persuade clients to choose their services over competitors.