M&A Fees Lag Volume Surge
The M&A fee pool fails to keep up with a significant increase in transaction volume this year, suggesting some league table-focused banks are doing business at discount prices. In the year to October 21, M&A deal volume booked by advisors reached $205bn from 1,047 deals, up 185% from $72bn (675 deals) in the corresponding period of 2009. M&A revenue, however, has risen just 27% year-on-year, to...
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