Ex-lawyers in senior IB positions?

I noticed that a lot of senior MDs/heads are having a prior background as lawyers. Curious to know why is that?

See some examples below:

- Lloyd Blankfein, ex-CEO, Goldman - ex-Prokauser

- Brian Moynihan, CEO BofA 

  • Bruce Wasserstein (RIP), ex-CEO Lazard - ex-Cravath

  • Andrew Bednar, CEO/President Perella - ex-Cravath

  • Kevin Costantino, Co-CEO/President Greenhill - ex-Wachtell

  • Jim Millstein, Co-chairman Guggenheim - ex-Cleary Gottlieb

 

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