A year ago, investment bankers reflected on a record first half and wondered if things could get any better. Now, they are hoping that they wonâÂÂt get any worse.
Investment banking fees generated in Europe, the Middle East and Africa slumped by 35% in the six months to the end of June compared with the same period last year. Banks are steeling themselves for further job cuts, while stressing that in the core areas of advisory, debt and equity underwriting, there is business to be done.
