Investment banking fees survey: The waiting game

Investment banking fees survey: The waiting game

Equity M&A Loans Bonds

By Ben Miller It’s not over till it’s over. But so far, 2012 has proved mildly disappointing for investment banking fees: revenues from equities are down in line with the markets although debt income is holding steady and M&A is on the up. What happens in September, in particular, will spell out the larger picture for fees this year. Bankers are hoping that an uptick in debt issuance, similar to that seen in the first quarter, will boost DCM revenues. So far this year, overall fee income appears largely unchanged, with differences in revenues driven almost entirely by the volumes of transactions in each bank’s different business lines. At $1.03 billion through August 17, the total is

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