Retrenching and cost-cutting European investment banks are on course to lose market share to their bigger US rivals for the 10th straight year in 2015, a startling retreat that leaves the continent in danger of having no global champion. The top dozen European investment banks have taken just 20.7% of global investment banking fees so far this year, down almost a third from a peak of 29% in 2003, according to Thomson Reuters data. Their share has fallen every year since 2005.
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