Dear Armchairists (?),

My M&A advisory company has a few sector teams (in Vienna & London).
We also have a network of local offices in all the CEE capital cities.
On a big "Bank" deal, for instance, there will be a local team element, and
a London sector team element.
When we get the mandate, it's partly because our expensive London expert
team is recognized as fine,
but also because our local team (in Bratislava, for instance), is also

Internally we "split" the fees between the two teams -- which is annually
important for bonuses.
We are not satisfied with the internal bickering about fee splits and work
-- on any given mandate, both
teams (local & expert) believe they could basically "do it all alone". 

My top management would like an incentive/accounting system which satisfies
both teams, and gets both
teams to cooperate more fully, and to use the advantages of each more fully.

Is there any micro- / game-theory analysis on such internal business

Recommendations & suggestions welcomed.

Tom Grey
CA IB Securities

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