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I never expected to revisit the topic of bulgebracket banks so quickly because the full list changes slowly, and we updated it a few years ago. But the events of 2023, including the UBS acquisition of Credit Suisse and the rise of firms like Wells Fargo, Jefferies, and RBC, have shaken up the traditional list.
Note that while Leveraged Finance is technically in “capital markets,” it is closer to groups like M&A because most of the work relates to funding for acquisitions and leveraged buyouts. Many firms put capital markets groups within “Investment Banking,” but some include it within Sales & Trading or “Global Markets.”
per share when it was trading above $8.00 First, Credit Suisse is obviously no longer a bulgebracket bank , so I’ll have to update that article. The Macro Impact of UBS and Credit Suisse (and SVB) I expect more bank failures, hurried/forced acquisitions, and “emergency backstops” before this crisis is over. a year ago?
Renewable Energy Investment Banking Definition: In renewable energy investment banking, bankers advise companies in the solar, wind, biofuel, storage, battery, smart grid, electric vehicle, hydrogen, hydroelectric, and carbon capture verticals on equity and debt issuances, asset deals, and mergers and acquisitions.
Sports Investment Banking Definition: In sports IB, bankers advise on equity and debt issuances, mergers, acquisitions, and restructuring deals for sports teams and leagues, sports-adjacent technology and services firms, and facilities such as arenas, stadiums, and racetracks. What is Sports Investment Banking?
Traditionally, banks gave away equity research reports for free to incentivize large clients to trade with the bank. Therefore, equity research generated revenue indirectly via trading commissions , but it was still considered a front-office role due to the compensation, interaction with managers and investors, and exit opportunities.
ATVI) acquisition, gaming M&A will likely jump to the next level. ” Microsoft scored a win on July 11, when a federal court in California denied the Federal Trade Commission’s request for a preliminary injunction — essentially allowing the deal parties to proceed. Bulge-bracket deal expectations may also be a factor. “I
2023’s much-discussed downturn in mergers & acquisitions – with global M&A volume and value down 6% and 17%, respectively, from 2022 – was largely driven by the slowdown in the tech sector, with global tech M&A volumes down 51% year over year, while other sectors saw marked increases. [1] billion leading the pack.
the Hart-Scott-Rodino (HSR) Act requires firms that complete a merger to report the deal to the government, assuming they have revenue or assets above certain thresholds. Information about previous acquisitions , which could affect many PE firms using “roll-up” strategies to complete bolt-on acquisitions. In the U.S.,
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