LONDON Nov 30 Investment banking fees earned in
Europe, the Middle East and Africa (EMEA) account for just 24
percent of the global total so far this year, the lowest
year-to-date share since records began in 2000, Thomson Reuters
Fees for services ranging from merger and acquisitions (M&A)
advisory services to capital markets underwriting in EMEA total
$18 billion so far in 2016, down 12 percent year-on-year.
At its zenith in 2008, the EMEA fee pool accounted for 37
percent of global investment banking fees earned, the data
Britain's vote to leave the European Union in June and the
ensuing uncertainty, a looming referendum on constitutional
reform in Italy as well as a prolonged period of anaemic growth
across Europe have put companies off pulling the trigger on
large scale M&A deals, a big fee earner for banks.
European M&A activity totals $554 billion so far this year,
down 30 percent on the same period in 2015, with M&A in Britain
down 69 percent, lagging a 19 percent fall in worldwide
activity, according to the data.
Britain is the third-highest fee paying country so far this
year, accounting for 6 percent of the global fee pool, behind
the United States and China with 45 percent and 12 percent
European equity capital markets activity is also down 36
percent to total $133 billion, lagging a worldwide drop of 26
percent, while debt capital markets activity is broadly flat in
Europe but up 15 percent worldwide.
Global investment banking fees are down 11 percent so far
this year compared with 2015, totalling $74 billion, with fees
from the Americas falling 17 percent to $38 billion accounting
for 52 percent of the global total, a 5-year low.
Fees in Asia, however, are up 5 percent this year to $17.3
billion, the highest year-to-date total since Thomson Reuters
records began in 2000, and now account for 23 percent of the
global feel pool, up from a low of 10 percent in 2001.
U.S. banks are in the top five positions in the global
investment banking fee rankings with a 28.6 percent share, down
from a high of 44.3 percent in 2001.
(Reporting by Anjuli Davies; Editing by Mark Potter)