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UBS’s dealmaking fees tumble by 60% follow Wall Street declines
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UBS's fees from dealmaking slipped by nearly 60% in the third quarter, kicking off an earnings season for major European investment banks after a slump at Wall Street rivals.
The Swiss bank's dealmaking unit posted revenue of $329m during the three month period, a decline of 57% on the same period last year and below analyst expectations. Its capital markets unit fell by 63% to $193m, while a 49% drop in M&A fees was sharper than most major US banks.
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