To spread out such risks as well as increase the reach for the IPO, investment banks organize themselves into syndicates. Each deal has a different syndicate which will not only share in the risk of the deal but also provide the necessary support for the deal, in terms of marketing, provision of research and market making. The structure and the size of the syndicate depends scale and size of the deal. A large IPO would have a rather large syndicate, given that the financial impact of a failed deal would be huge. Large syndicate structures also allow for more marketing and communications effort for the offering, as well as research and increased liquidity post offering. In the US, a typical structure would be led by a Lead Manager followed by Co-Manager and Selling Group. In Asia, it is not to have the deal led by a Lead Manager followed by the Co-Lead Manager and Co-Manager. Selling Group is rarity in Asia. Likewise, in an international offering, be bigger because the offering is to be made several jurisdictions. Such deals are usually headed by a Global Co-ordinator at the apex of the syndicate.