Page 2 - Investment Bankers

Investment bankers' fee income grows 28% at record $1.3 billion in 2023

Investment bankers laughed all the way to the bank as their fee income touched a new record of USD 1.3 billion in 2023, growing 28 per cent over the previous year. At USD 1.3 billion in estimated fees during 2023, investment bankers collected 28 per cent more than they did last year, and this is the highest since records began in 2000, according to the data collated by LSEG Deals Intelligence, formerly Refinitiv. The fee income of investment bankers got a boost due to higher equity and debt issuance volumes which offset the massive plunge in deal activities. State Bank of India took the top position in investment banking fees chart with a collection of USD 102.7 million, which is 7.7 per cent of the country's overall investment banking fee pool, according to the agency. The fee income chart was led by M&As (mergers and acquisitions) contributing USD 416.1 million, which was 7 per cent down year-on-year. The deal street saw a massive 51 per cent fall in value over 2022, the agency .

Banking scion Vishal Kampani eyes hiring push to meet dealmaking boom

The Mumbai-listed company is seeking to hire at least seven senior investment bankers in the coming year for sectors such as industrials and digital technology

Morgan Stanley names banking veteran Ted Pick as investment bank's next CEO

Banking veteran Ted Pick will become the next CEO of Morgan Stanley. Pick will succeed long-time CEO James Gorman effective Jan. 1. And Gorman, who announced his plans to step down in May, will remain at the bank as executive chairman of the board. Pick has served as co-president of Morgan Stanley for the past two years. He first joined the investment bank back in 1990, and held several titles throughout his tenure including managing director, head of equity capital markets and global head of sales and trading. In a prepared statement, Pick said Wednesday that he was deeply honored to head the storied institution and was excited for future growth. He also credited Gorman's leadership for making Morgan Stanley well-positioned to succeed across market cycles. Gorman, who first joined the New York bank as chief operating officer of its Global Wealth Management Group in 2006, became CEO in 2010 in the wake of the financial crisis, when the investment bank came dangerously close to ..

Investment bankers' fees to manage IPOs jump as issue size shrink in 2023

Industry experts note that the work required for an IPO remains consistent, regardless of the issue size

Investment bankers see highest fee income at $968 million in Jan-Sept

Investment bankers laughed their way to the bank with 41 per cent on-year more fee income at USD 967.5 million during the first nine months of 2023, despite a massive fall in deals, according to an industry analysis. This is the highest fee collection by deal makers since records began in 2000. According to Refinitiv, which is an LSEG (London Stock Exchange Group) business , completed M&A advisory fee jumped 34 per cent year-on-year during January-September 2023 and totalled USD 362 million, while ECM (equity capital market) underwriting fees rose by a steeper 38 per cent to reach USD 194.3 million. Debt capital market (DCM) underwriting fees totalled USD 181.7 million, a 41 per cent increase from a year ago, while syndicated lending fees grew 56 per cent to USD 229.5 million in the first nine months of 2023, Lucille Jones, an analyst at LSEG said, adding the total fee income for the sector during the period jumped 41 per cent to USD 967.5 million. Wall Street major Citi's ...

Citigroup profit holds steady in Q3 as investment banking fees jump

The bank's trading unit also boosted revenue, while its division providing treasury and securities services to corporations brought in 12% more revenue

NHAI unit to raise around Rs 30 bn via 10-yr bonds soon, say bankers

DME is a special-purpose vehicle created by the NHAI in August 2020 for the construction of the greenfield Delhi-Mumbai Expressway

Jefferies Financial is hiring 10 investment bankers to expand India team

Jefferies has been increasing its presence in Asia Pacific, seeking to leverage its stronger position as an advisory firm in other markets such as the US and Europe

Credit Suisse loses three more investment bankers to Banco Santander

The three are among at least 11 investment bankers reported by Bloomberg News this week to have left the storied Swiss lender for other banks with the completion of its merger with UBS Group AG loomin

China's top investment bank CITIC cuts base salary by up to 15%: Report

The country's top investment bank by market value has also yet to pay bonuses to bankers for work done last year, the two sources close to the matter said

Investment bankers get $261.5 mn in Q1 despite fall in deals: Report

Despite a massive fall in deal making in the March quarter, deal makers laughed their way to the bank with USD 261.5 million in investment banking fees during the same period, according to a report. The amount is 2 per cent higher compared to the year-ago period. In the three months ended March, deal-making activities declined for the third consecutive quarter, making it the slowest start to a year since 2016 amid multiple headwinds. Geopolitical tensions, supply chain disruptions, rising interest hikes and global recession fears continue to dampen boardroom confidence and investor sentiment, Refinitiv, which is an LSEG business unit and among the world's largest providers of financial markets data and infrastructure, said in the report. Equity Capital Market (ECM) underwriting fees rose 15 per cent to USD 50 million -- the highest first quarter fees since 2021 while debt capital market underwriting fees totalled USD 71.4 million. The latter is a 22 per cent increase compared to th

Tech execs race to save startups from 'extinction' after SVB collapse

Altman, who runs one of Silicon Valley's hottest companies, bailed out some entrepreneurs from his own pocket, according to a Twitter message by his brother and one beneficiary

Highest salary offered at IIM Kozhikode touches Rs 67L, average at Rs 31L

An IT-sector company offered the top salary of Rs 67.02 lakh on the campus. This was higher than the top salary of Rs 61.5 lakh last year

The real story behind real interest rate

While the debate will continue about the benchmark rate to calculate real interest rate, both for the lenders and the savers, shouldn't all rates be higher than the rate of inflation?

M&A recovery: Kotak Mahindra Bank plans to hire 20 investment bankers

The firm is looking to fill positions from analyst to director levels across sectors including financial services, health care and technology

I-banking fees dip in nine months to September as smaller deals dominate

Even some big-ticket deals such as the LIC IPO did not generate higher fees

Bank of America posts drop in quarterly profit as dealmaking slumps

Wall Street investment bankers, who were neck-deep in deals last year, have seen activity slump in the first half of 2022 amid volatility in the capital markets, geopolitical tensions

Fee pool shrinks by nearly 33% as equity offerings drop in first half

Overall equity issuances during the first half (H1) dropped 40 per cent to $9.1 billion, lowest first-half tally since 2016, according to Refinitiv, a markets data provider

Ashneer Grover tells VC firms to 'right size' before advising startups

Ashneer Grover, co-founder and former managing director of fintech platform BharatPe, has advised venture capital and investment firms to first think about "right-sizing" themselves in the wake of current economic slowdown before telling their portfolio companies and startups to do so.

Investment bankers ride on record IPOs in FY22 to mint bumper pay

Bonuses in FY22 ranged from 100 to 200% of annual pay