Investment bankers see highest fee income at USD 968 mn in Jan-Sept
Investment bankers laughed their way to the bank with 41 per cent on-year more fee income at USD 967.5 million during the first nine months of 2023, despite a massive fall in deals, according to an industry analysis. This is the highest fee collection by deal makers since records began in 2000.
According to Refinitiv, which is an LSEG (London Stock Exchange Group) business, completed M&A advisory fee jumped 34 per cent year-on-year during January-September 2023 and totalled USD 362 million, while ECM (equity capital market) underwriting fees rose by a steeper 38 per cent to reach USD 194.3 million.
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Wall Street major Citi's domestic arm took the top position for overall investment banking fees with a total of USD 58.6 million, accounting for 6.1 per cent of the wallet share of the i-banking fee pool.
The fees rose despite 56.6 per cent plunge in India-bound M&As to a three-year low of USD 65.6 billion in the first nine months of 2023, but the number of deals saw a 3 per cent on-year growth.
Similarly India target M&As reached USD 60.5 billion,
