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Bankers warn the $130bn deal fee bonanza is fizzling fast: ‘There could be cuts later this year’

An expected flurry of departures after bonuses this year didn’t happen, which is ‘reflective of how the market has changed’

By Paul Clarke
At a panel of senior dealmakers at Davos, Peter Orszag, chief executive of Lazard’s advisory business, pointed to the ‘emergence of a US-European superbloc’ that would prompt more cross-border activity
At a panel of senior dealmakers at Davos, Peter Orszag, chief executive of Lazard’s advisory business, pointed to the ‘emergence of a US-European superbloc’ that would prompt more cross-border activity Photo: David Paul Morris/Getty Images

The climate, the economy, Ukraine — these topics dominated the agenda at the World Economic Forum in Davos. But for senior bankers trying to drum up business in the Swiss resort town, there’s another concern.

The good times in deals are fizzling out.

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