在日常生活中，pitch用作名词通常表示“音调”，用作动词通常表示“投掷”。这些都是平常惯用的用法，但是在金融领域有其特殊的含义，下面一起来了解一下。

有关“pitch”的英文解释如下所示：

“A pitch is an investment bank’s sale presentation of its products and services to existing and potential clients. A bank usually bids for a transaction in competition with other financial institutions, so whether or not the bank is commissioned really depends on the pitch and how it is delivered. The final document that results from the pitch process and is ultimately presented to clients is called a pitch book.

Normally, the pitch process starts with a managing director’s pitch idea for a client’s need. Then most of the analysis and compiling of the pitch book is done by the junior members of the team, especially the analysts. The pitch book contains presentation of the investment bank’s rankings and capabilities, analysis of the current market conditions, and analysis of the specific transaction that the client wants to effectuate.”

从上述描述可以看出，“pitch”是指投行就其产品和服务向现有客户和潜在客户进行销售展示。投行通常会与其他金融机构竞标，所以“pitch”对于投行而言至关重要。

在此情境下，“pitch”作名词可以译为“推销用语”“推介”，比如，stock pitch表示“股票推荐”；作动词时可以译为“游说某人”，比如，pitch sb. a stock表示“向某人推荐股票”。

此外，上文还提及了“pitch book”，中文可以译为“项目建议书”“投标书”。具体可以参考下列英文释义：

“The pitch book is indigenous to the investment bank marketing itself to its clients. It represents valuable and detailed marketing material and provides the bank with a chance to show and prove why that investment bank should be considered amongst the wide variety of financing and other sources of capital and considerations in the financial marketplace (and a pitch book will typically go beyond simple comparisons of debt and equity costs and structures).

The pitch book may employ a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats). "Comps", or Comparable Company Analysis may also be presented. In a comp, an investment bank will present industry specific details, trends, macro- and microeconomic and company specific analysis, which will not only support the investment bank’s vision but also support reasoning for a particular future valuation discussion for the potential client.

There are many contributors to an investment bank's pitch book. It starts with the analyst to the associate to the vice-president and senior vice-president (relationship managers) to the lead of the team, the managing director. As an example, a table of contents or outline will open the pitch book for discussion. Name, title, and department present a management description of the deal team and other contributors within the firm’s internal wealth of resources. An "overview", "financing requirements (such as satisfying capital expenditures "CAPEX" and capital budgeting)", and finally as mentioned a description of the company’s universe, the "comparable company analysis" are all essential elements to an investment banking pitch book.”

总结一下上文内容，投行制作“pitch book”的目的就是向客户推介自身，分析师、经理、副总裁和高级副总裁（客户经理）以及董事总经理都会参与其中。“pitch book”通常包括以下几个重要部分：目录或大纲；交易团队和其他撰写人员的姓名、职位和部门；概述；资金需求（比如，资本支出和资本预算）；可比公司分析。“pitch book”可采用SWOT分析法，也可以采用可比公司分析法。

来源：

Wikipedia Foundation；

http://www.financeinstitute.com/investment-banking-pitch-process/#:~:text=A%20pitch%20is%20an%20investment%20bank%E2%80%99s%20sale%20presentation,on%20the%20pitch%20and%20how%20it%20is%20delivered.