Posted on 06/09/2008 5:52:38 AM PDT by TigerLikesRooster
FIG business drives investment banks
Total global investment banking revenues for the year to last Friday were $25.7bn (€16.3bn), with $10.8bn from the financial institution group business. Over the same period last year FIG accounted for 31% of global investment banking revenues at $12.7bn.
Huw van Steenis, head of banks and financials research in the Europe, Middle East and Africa region at Morgan Stanley in London, said: “Given deleveraging is a multi-year process, we think the opportunities from FIG funding, asset disposals and M&A will provide a very rich seam for at least two years.”
(Excerpt) Read more at efinancialnews.com ...
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