European banks could be forced to merge as part of a broader surge in M&A activity next year caused by the fallout from the coronavirus crisis.

That's according to Javier Oficialdegui, the co-head of UBS’s investment banking unit, who said in a wide-ranging interview with Financial News that he expects entire industries to be “rethought” in the wake of the pandemic, leading to a rebound from the "dramatic" drop off in global M&A.