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HSBC’s dealmaking unit jumps 69% despite M&A slump
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HSBC's investment banking unit surged by 69% in the second quarter as the UK lender benefited from a rebound in debt capital markets activity despite a slump in M&A that has hit its rivals.
The UK lender posted revenue of $252m for its capital markets and advisory business, up by nearly 70% compared with the second quarter of last year. Meanwhile, its much larger markets and securities services division dropped 9% to $2.2bn. Overall global banking and markets revenue was up by 6% to $4.1bn for the period.
HSBC's...
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