Reuters - M&A work bright spot for European firms

Fees from advising companies on merger and funding deals proved a relative bright spot in an otherwise dismal third quarter for European investment banks, which like their U.S. rivals saw trading revenues plunge.

Reuters reports that UBS was the biggest winner in advisory and underwriting, posting a 42% year-on-year rise in fees, with a strong performance in equity underwriting in particular.

Barclays said its banking fees from such advisory work rose 15% to $2.6bn in the third quarter compared with the same period a year ago, against a 14% decline in income from the bank’s trading division.

Credit Suisse saw advisory, underwriting and financing revenues in its Asian business rise 10% $148m, thanks mainly to bond issuance by Asian companies.

Hit the link below to access the complete Reuters article:

Advisory work a bright spot amid European banks' trading woes

SocGen income hit by trading, raises litigation reserve

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News