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Investment bankers’ fees down 57 percent in region
Regional investment bankers and financial advisers have…
September 29, 2009 1:37 by kippreport
Regional investment bankers and financial advisers have seen their fees drop 57 percent so far this year, compared to the same period in 2009, according to a research report by Thomson Reuters. “[The] data shows that it has been a tough year so far both regionally and internationally for investment banks and financial advisers,” said Basil Moftah, managing director of Thomson Reuters, Middle East and Africa, in the release.
The report also states that mergers and acquisitions have fallen 70 percent during this year as compared to the same period last year. The value of Middle Eastern targeted mergers and acquisitions was $40 billion in 2007, $21 billion in 2008, and has only reached $5 billion so far this year, it says.