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Post Strategy: Intensity of Competition

After appearing on "The Strategy Session" on Tuesday, Dan Cummings, head of global equity capital markets for Bank of America Merrill Lynch, continued his discussion off-camera with Kate Kelly.

"The intensity of the competition is still as fierce as its every been, there's more of an oligopoly [when a market or industry is dominated by a small number of sellers] that's formed, there's more of a critical mass that's in the business," Cummings said.

The competitive landscape has changed with mergers and companies that have come together over the years, he said.

Plus check out the video to see what its like for Cummings to work alongside the government on AIG's secondary offering.

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Watch CNBC's "The Strategy Session" weekdays at Noon ET

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