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7/31/2019 Global IB Review Q12012 Updated
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FIRST QUARTER 2012
GLOBAL INVESTMENT BANKING REVIEW
Reuters/Denis Balibouse
7/31/2019 Global IB Review Q12012 Updated
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- 2 - Source: Thomson Reuters Deals Business Intelligence
Financials, Resources and Industrials Account for
64% of Global Investment Banking Fee Pool
Debt Capital Markets Fees Account for One-Third of
Global Fees; M&A Fees Fall 26%
Global Investment Banking Fee Leaders Highlight
Differences across Major Asset Classes
Investment banking activity in the financials, energy & power, industrials and materials sectors accounted for 64% of the global fee poolduring the first quarter of 2012. JP Morgan topped the fee rankings in six sectors during the first quarter, while Bank of America MerrillLynch registered double-digit wallet share in four sectors, including 15.9% of first quarter investment banking fees in the consumer
products sector. Deutsche Bank, bolstered by sovereign debt underwriting, registered a 9.5% share of government and agencyunderwriting activity, which increased 6.7% over first quarter 2011.
M&A advisory fees totaled US$3.9 billion during first quarter 2012, an decrease of 26% over the same period last year, and accounted for22% of the global fee pool. Fees from debt capital markets underwriting totaled US$5.8 billion, an increase of 4% compared to last year'stally while loan fees improved 3% to US$3.8 billion. Equity capital markets underwriting fees totaled US$4.0 billion during first quarter2012, registering a 32.6% decrease over the same time last year.
Morgan Stanley controlled 7.9% of fees from worldwide completed M&A transactions, a decline of .3 percentage points compared to firstquarter 2011, while Credit Suisse moved three spots to rank third for worldwide M&A fees during the first quarter, an increase of 1.2percentage points. JP Morgan retained the top spot for global debt and equity capital markets fees with 8.0% and 7.2% share,respectively. Bank of America Merrill Lynch moved up one spot to take the top ranking for fees from syndicated lending, with 9.2% marketshare during first quarter 2012.
MEDIA CONTACT: CRITERIA SUMMARY:
All data is as of 9:00am EST on April 2, 2012 and sourced via Deals BusinessIntelligence
Volumes based on Thomson Reuters' industry-leading Deals content (M&A, Equity,Bonds and Loans) and Freeman Consulting's algorithm for imputing investment bankingfees
Date periods referred to within based on the effective date for M&A, the issue date forEquity and Bonds and the closing date for Loans
Geographies and sectors are based on the nation of headquarters and macro industry ofthe deal participant's parent
Thomson Reuters Deals Intelligence, a part of Thomson Reuters' Investment Bankingdivision, brings up to the minute market intelligence to our clients and the financial mediathrough a variety of research reports including Daily Deals Insight, weekly InvestmentBanking Scorecard, monthly Deals Snapshots and our industry-leading quarterly reviewshighlighting trends in M&A and Capital Markets.
GLOBAL INVESTMENT BANKING REVIEW
Fees for global Investment Banking services, from M&A advisory to capital markets underwriting, totaled US$17.6 billion during the firstquarter of 2012, a 14% decrease over last year at this time. First quarter investment banking fees in the Americas totaled US$9.9 billion,an 8% decrease from the first quarter of 2011 and accounted for 56% of global investment banking fees. Fees from EMEA companiesfell 22% during the first quarter, while fees in Asia Pacific decreased 24% and fees in Japan fell 12% compared to first quarter 2011.
Global IB Fees Down 14%; Americas Accounts for 56% | JP Morgan Retains Top Spot | Fees from DCM up 4%; M&A Fees Down 26%
FIRST QUARTER 2012
Global Investment Banking Fees Total US$17.6
billion, down 14% from first quarter 2011
JP Morgan Retains Top Global Investment Banking
Fees Ranking, Citi picks up Wallet Share
JP Morgan topped the global investment banking league table for the first quarter of 2012 with US$1.4 billion in fees, or 7.8% of overall"walletshare". Bank of America Merrill Lynch booked US$1.2 billion in investment banking fees during the first quarter, a decrease of22% over last year and a loss of 0.7 wallet share points. Fees for Citi increased 8.5% compared to the first quarter of 2011, resulting in again of 1.1 percentage points, as the firm moved five spots to third place during first quarter 2012.
Europe
Americas
Asia-Pacific
Japan
[email protected] Matsushima
Clare Arber
Lauren Herman
Thomas Lau
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]7/31/2019 Global IB Review Q12012 Updated
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7/31/2019 Global IB Review Q12012 Updated
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FIRST QUARTER 2012
GLOBAL INVESTMENT BANKING REVIEW
Global Investment Banking Fees by Nation: First Quarter 2012 Fees (US$) / Year-over-Year Change (%)
Russia
Finland: $74m / 22.9%
Sweden: $195m / -22.9%
Norway: $98m / -38.3%
Denmark: $59m / -7.3%
Region Fees ($m) Region Fees ($m) Region Fees ($m) Region Fees ($m)
North America 9,439$ -6.7% France & Benelux 1,102$ -25.2% Iberia 312 -44.8% North Asia 1,195$ -31.7% South America 290 -26.2% UK & Ireland 899 -23.2% CIS 123 -51.7% Japan 1,025 -11.6% Caribbean 109 -24.8% Germania 851 7.2% Middle East 103 -15.2% Aust ralasia 516 -8.2%
Central America 77 -42.6% Southern Europe 461 -10.1% CEE 71 -7.6% Southeast Asia 266 -25.7% Americas 9,915$ -8.1% Nordic 445 -18.0% Africa 70 -59.5% South Asia 203 -1.3%
EMEA 4,436 -21.9% AsPac & Japan 3,205$ -20.6%
Americas Europe, Middle East & Africa Asia-Pacific & JapanYOY YOY YOY YOY
United States
$8.16b / -8.9%
Canada
$1.28b / 10.3%
China
$782m / -34.8%
Japan: $1.02b / -11.6%
Aust ralia
$487m / -6.9%
$114m / -51.3%
Brazil$192m / -28.6%
Hong Kong: $207m / -36.6%
S. Korea: $150m / -13.2%
India
$199m / -1.1%
Mexico
$71m / -37.4%
Singapore: $59m / -44.8%
South Africa
$48m / -64.8%
Malaysia: $79m / 29.3%
Germany: $619m / 4.3%Lux: $192m / -38.3%
France: $561m / -18.1%
Spain: $293m / -40.4%
Switzerland: $208m / 48.3%
Italy: $362m / 14.6%
UK: $775m / -26.2%
Neth: $273m / -28.1%
-50% -20% -10% -5% 0% +5% +10% +20% +50%
Global IB Fees
First Quarter 2012
$17.6b
-14.4%
YOY %
- 4 - Source: Thomson Reuters Deals Business Intelligence
7/31/2019 Global IB Review Q12012 Updated
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GLOBAL INVESTMENT BANKING REVIEW
Global Investment Banking: Top Banks - First Quarter 2012 (US$m)
FIRST QUARTER 2012
Product Mix - First Quarter 20122012 Bank Name 2012 2011
1 - = JP Morgan 1,365.0$ -15.3% 7.8% -0.1
2 - = Bank of America Merrill Lynch 1,183.6 -22.1%
6.7% -0.7
3 5 Citi 918.1 8.5% 5.2% 1.1 4 - = Morgan Stanley 903.0 -18.0% 5.1% -0.2
5 -2 Goldman Sachs & Co 859.7 -25.3% 4.9% -0.7
6 - = Deutsche Bank AG 828.3 -19.1% 4.7% -0.3 7 - = Credit Suisse 791.0 -19.9% 4.5% -0.3
YOY YOYYOY
Rank Fees Share
Bonds Equity Loans M&A
- arc ays . - . . - . 9 - = UBS 569.9 -18.3% 3.2% -0.2
10 1 Wells Fargo & Co 490.0 28.1% 2.8% 0.9
11 3 RBC Capital Markets 488.2 58.9% 2.8% 1.3 12 3 HSBC Holdings PLC 366.9 27.6% 2.1% 0.7
13 -1 RBS 362.6 2.7% 2.1% 0.3 14 -4 BNP Paribas SA 287.3 -26.2% 1.6% -0.3
15 1 Mizuho Financial Group 277.4 5.7% 1.6% 0.3
16 -3 Nomura 239.6 -27.5% 1.4% -0.2 17 1 Sumitomo Mitsui Finl Grp Inc 237.9 15.7% 1.4% 0.4
18 8 BMO Capital Markets 230.9 63.9% 1.3% 0.6
19 6 Mitsubishi UFJ Financial Group 206.9 44.3% 1.2% 0.5 20 -3 Jefferies & Co Inc 197.2 -18.4% 1.1% -0.1
21 6 TD Securities Inc 184.5 34.6% 1.1% 0.4 22 - = Lazard 161.5 6.6% 0.9% 0.2
23 -3 Societe Generale 152.8 -16.7% 0.9% 0.0 24 -1 Scotiabank-Bank of Nova Scotia 150.4 -0.3% 0.9% 0.1
25 -6 Credit Agricole CIB 142.6 -23.1% 0.8% -0.1
Global Total 17,556.3$ -14.4%
- 5 - Source: Thomson Reuters Deals Business Intelligence
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