How Have Total M&A Deals Closed By Major European Investment Banks Trended In The Last 5 Quarters?
The largest European investment banks reported a sizable improvement in the volume of M&A deals completed for a second consecutive quarter in Q2 2016, as the strong pipeline of deals they had built up over previous quarters helped mitigate the impact of lukewarm M&A activity over the quarter.
M&A advisory deal volumes for individual banks were taken from Thomson Reuters’ latest investment banking league tables. The table below captures the respective market shares for each of these banks over this period. The green-to-yellow shading for figures in a quarter should help compare the relative standings of these 4 banking giants in a particular quarter.
It should be noted that the largest M&A deals employ many investment banks, so the market size and share figures shown here are not exclusive.
Credit Suisse has had a particularly strong run over this period, with the Swiss bank reporting the largest market share among all European investment banks for each of the last four quarters. In sharp contrast, its Swiss competitor UBS has seen a noticeable slump in M&A deal size over this period. In fact, this trend is evident over a larger time frame too, as Credit Suisse reported an average M&A market share of 14% over 2012-15 compared to a figure of less than 10% for UBS. The reason for this is UBS’s more risk-averse approach to M&A advisory, wherein the bank does not finance the deals on which it advises. [1]
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