JPMorgan's Global Chair of Investment Banking & Capital Markets, Liz Myers: IPOs & Equity Capital Markets 201

The Wall Street Skinny · Dec 20, 2025 · 1h 19m

Send us Fan Mail In this episode we sit down with Liz Myers, Global Chair of Investment Banking and Capital Markets at J.P. Morgan for an Equity Capital Markets deep dive. We get into IPOs vs follow-ons, primary vs secondary proceeds (and why sponsor-backed IPOs often use proceeds differently), convertibles and the reality of price discovery. Liz breaks down the modern IPO process — from test-the-waters investor education to the order book build — and explains the newer concepts that didn’t exist until recently like cornerstone investors, why they matter, and how banks think about allocating…