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Banks fall out of love with emerging markets

Faced with falling fees from fewer deals many of the big names have put the brakes on a decade-long expansion

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Deutsche Bank (above) has shut most of its Latin America offices. EM-focused HSBC says it has benefited from the pullback of rivals. Last year it was the top EM fee earner globally, pulling in US$500 million. It was 10th in 2007.

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Deutsche Bank has shut most of its Latin America offices. EM-focused HSBC (above) says it has benefited from the pullback of rivals. Last year it was the top EM fee earner globally, pulling in US$500 million. It was 10th in 2007.

London

EMERGING markets (EMs) are fast losing their shine for the world's biggest investment banks. Faced with falling fees from fewer deals - and bleak prospects ahead - many have put the brakes on a decade-long expansion, with some cutting jobs and shutting offices.

Subdued deal

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