Q1 fees fall 30%, but Rothschild, Centerview buck gloom

摘要

Rothschild and Centerview partners bucked the awful first quarter seen by almost all investment banks, which saw industry fees for M&A advisory, bond and equity underwriting and corporate loans fall 30% from a year earlier. Investment banking fees through to the end of March were US$15.9bn, down from US$22.7bn in the first quarter of 2015, according to Thomson Reuters data. JP Morgan was the leading bank with a 7.5% market share in the first quarter, up from 6.9% a year earlier. But it was a bigger slice of a far smaller pie. JP Morgan's fees of US$1.2bn were down 24% from the same period in 2015. Fees across the industry have slumped as M&A deals and equity and bond issuance have dried up and trading has been hit by volatile markets amid concerns about a slowdown in China and negative interest rates.