Can Wall Street Automate the Robot-Resistant Investment Banker?

Wall Street pours billions of dollars into technology every year, looking for ways to replace many of its money managers, research analysts, and traders with machines. But there’s one job that few believe can be automated—that of the investment banker. Investment bankers weave together complicated mergers and acquisitions, pitch initial public offerings to investors, and serve as confidants and counselors to chief executives. They’re also rainmakers, cultivating relationships that bring in business.

Illustration: Evan Eisel for Bloomberg Businessweek

Wall Street executives have said they don’t believe their rainmakers can be replaced by algorithms because of the importance of negotiation, judgment, and relationship building.

“There are ...