Times are tough for European investment banks

Graph And Coins

European investment banks will probably report a drop in third-quarter revenue after turmoil in Asia undermined bond and equity deals, driving down the fee pool to its smallest since 2012, Deutsche Bank said.

'Unfortunately, September was a difficult month, with the lead indicators all pointing toward a tough third-quarter earnings season for investment banks', Matt Spick, an analyst at Deutsche Bank in London, said in a note dated October 1.

'We expect to see particular weakness from Asia-Pacific and from the equities and carry fixed-income, currencies and commodities businesses'.

Bloomberg News reports that global fees probably fell 20% to $12.4bn in the three months through September from a year earlier, making it the weakest period since the second quarter of 2012, Deutsche Bank said. 

To access the complete Bloomberg News article hit the link below:

European Investment Banks Had Tough Quarter, Deutsche Bank Says

Morgan Stanley Promotes Ted Pick, Dan Simkowitz to New Roles

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts