Q3 investment banking fees at post-crisis low
But year-to-date fees up at US$56.8b; S'pore fees rise 24% to US$373m
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THE world's investment bankers took home less money over the past three months than in any quarter since the start of 2009, amid uncertainties surrounding quantitative easing and Syria.
Data by Thomson Reuters has it that third-quarter investment banking fees fell 24 per cent quarter-on-quarter to US$15.7 billion globally. This marks it as the worst quarter since the global financial crisis, when worldwide investment bankers earned just US$12 billion in fees in the first three months of 2009.
On a year-to-date basis, fees are still up 3 per cent year-on-year at US$56.8 billion, reflecting a strong first half of the year for fund-raising and deal-making.
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