Investment Banking

Banks rake in record $60bn in fees in booming start to 2021: ‘Competition has never been fiercer’

The fees surpassed any other start to the year by nearly $14bn as a surge in Spacs, big ticket M&A deals and leveraged finance transactions fuelled a revenue bonanza

In the UK, private equity firm Clayton, Dubilier & Rice offered 5.5bn to acquire supermarket group Morrisons in June
In the UK, private equity firm Clayton, Dubilier & Rice offered 5.5bn to acquire supermarket group Morrisons in June Photo: Getty Images

The world’s largest investment banks have made more than $60bn in fees during the first half of 2021, eclipsing previous records in a frenetic start to the year.

The fees surpassed any other start to the year by nearly $14bn, according to data provider Dealogic, as a surge in blank-cheque companies, big ticket M&A deals and leveraged finance transactions fuelled a revenue bonanza.

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