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Reply #38: Banks earn record fees from M&A boom - Dealogic [View All]

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UpInArms Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-11-06 09:02 AM
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38. Banks earn record fees from M&A boom - Dealogic

LONDON, July 11 (Reuters) - Investment banks earned $34.5 billion in fees from advising on M&A and from selling bonds and equities globally in the first half of this year, the highest total for the first six months of any year on record, according to data from finance industry analyst Dealogic on Tuesday.

J.P. Morgan Chase (JPM.N: Quote, Profile, Research) led Dealogic's ranking of investment banking revenue, earning $2.4 billion in fees in the first half of 2006, representing a 7 percent share.

Fees on M&A and other deals are not routinely disclosed by the banks, so Dealogic's data is based on its own financial models.

The banks have enjoyed a bumper first half where a surge in merger and acquisitions activity and financing via the capital markets to pay for deals has boosted revenues and profits.

Goldman Sachs (GS.N: Quote, Profile, Research), Lehman Brothers (LEH.N: Quote, Profile, Research) and Morgan Stanley (MS.N: Quote, Profile, Research), for example, last month reported big increases in profits for the second quarter of the year.

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