What is the general role of the Managing Director?

As the senior level banker, the role of the Managing Director (“MD”) is mostly one of client development.  The MD will likely be the one with the senior level company relationships (CEO, CFO, head of Corporate Development) and is typically responsible for spearheading marketing efforts.  On a live transaction, the MD often plays only a minor role, getting involved when difficulties arise in the deal and during high level negotiations.