The slump included some of the most lucrative segments, with fees from mergers and acquisitions falling 33% to $46m, Freeman reported. Income from syndicated loans plunged 88% to $13m, bond fees shrank 76% to $28m and equities tumbled 24% to $21m.
'The reality is that 2014 is probably already a lost year', Chris Weafer, a partner at Moscow-based Macro Advisory and former chief strategist at Sberbank CIB, said in e-mailed comments. 'The second quarter is likely to be worse than the first quarter as the big international investment funds stay away from Russia until the political risk is a lot clearer'.
To access the complete Bloomberg article hit the link below: