MUFG has hired 180 staff in London since April 1 and plans “a few dozen” more hirings in EMEA.
Investment banks have been on an “intensive diet” since 2011.
A long-awaited deal for miner Anglo American (AAL.L) to sell its Australian coal assets to a consortium headed by private equity group Apollo Global Management (APO.N) is off, two sources with knowledge of the matter said on Tuesday. Three sources said in October the deal was expected, although one had… Read more »
Selling assets has taken longer than expected as a strong recovery in coal and other commodities this year has reduced pressure on miners to sell, while increasing pressure from shareholders to achieve the best price.
Founded largely by veterans fleeing bureaucracy and shrinking paychecks at the large banks, these low-profile small firms are proving popular among companies who value their niche expertise and independent advice as opposed to mega-banks who tend to cross-sell other services like financing.
Global fees for services ranging from merger and acquisitions advisory services to capital markets underwriting fell 23 percent to $37.1 billion at the end of June, the slowest first half for fees since 2012.
So big is the state oil company because of its rights to the kingdom’s crude reserves, that selling even 1 percent of it would create the world’s biggest IPO, Prince Mohammed said.
Coalition tracks Bank of America Merrill Lynch, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, Societe Generale and UBS. The downturn comes as banks are having to comply with new regulations forcing them to hold more capital.
Mining companies and private equity firms are circling Anglo American‘s metallurgical coal assets in Australia, which could be valued at around $1.5 billion in a sale, several sources familiar with the matter said on Wednesday. Major mining firms BHP Billiton, Rio Tinto and Glencore, as well as U.S. private equity… Read more »
Global investment banking fees fell 29 per cent in the first quarter of 2016 from a year earlier as market volatility put a brake on deal-making and equity and debt capital markets activity,