Mid-Market I-Banking Association Takes Shape
The McLean Group chairman Dennis Roberts chairs the new organization
The Middle Market Investment Banking Association (MMIBA) was launched this month, with a mandate to educate and certify mid-market banking executives. The fledgling organization has paired off with the National Association of Certified Valuation Analysts (NACVA), which will provide administrative, back office and infrastructure support as the MMIBA establishes itself.
The McLean Group chairman Dennis Roberts chairs the new organization, while Jones Day partner Andrew Sherman, Enterprise Services founder Scott Miller, and McLean Group senior managing director Andy Smith sit on the board of directors. Parnell Black, who co-founded the NACVA, is also a board member.
Initially, the MMIBA will offer education and training programs through the NACVA's Consulting Training Institute education arm.
Roberts, speaking to Mergers & Acquisitions, notes that he believes the MMIBA fills a hole in the middle market, adding that the formation of the organization had been in the works for about a year.
He also cites that the connection to the NACVA is forward looking, as he expects that there could a demographic change in the mid-market investment banking universe as accountants move into the space. "In the 1980s, CPAs didn't do valuation work either, but when they moved into the segment they literally took it over," Roberts says.
The MMIBA currently offers a Certified Merger and Acquisitions Professional program, providing training and accreditation for financial executives serving the middle market.
The MMIBA differs from similar groups, such as the Alliance of Mergers & Acquisitions Advisors, in that it is focused exclusively on the investment banking community and emphasizes education and training.
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