Father Mustier

摘要

ECM issuance in 2016 has been a massive disappointment and the EMEA region has fared the worst, with a drop of more than 40% in funds raised. And while volumes are pallid, fees are even worse. Globally, ECM fees are at their lowest since 2003. Several banks in Europe were forced to cut ECM managing directors or more junior bankers this year as a result. Nomura bailed out of the ECM underwriting business entirely.