Global investment banking fees fall 29 per cent year on year to lowest first quarter since 2009
Global investment banking fees fell 29 per cent year on year in the first quarter of 2016, according to new figures.
Global fees reached $16.2bn (£11.4bn) by the end of March this year – making it the lowest first quarter since 2009, according to Thomson Reuters figures out today.
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Fees in Europe were down 27 per cent to $3.9bn, the Americas total was $8.7bn, down 32 per cent, and the Asia-Pacific value was down 18 per cent to $2.6bn.
Fees in the UK and Ireland were down 23.5 per cent to $1.3bn.
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Equity capital markets fees were down 48 per cent year on year, debt capital markets were down 26 per cent and M&A revenue was down 18 per cent on the same period in 2015.
JP Morgan topped Thomson Reuters' league table for fees, drawing in $1.2bn. But this was down 23 per cent on the first quarter of 2015.